Gold Breaks All Records, Crosses ₹1.3 Lakh Mark for the First Time; Silver Shines Too

New Delhi (The Uttam Hindu): Ahead of the festive season, the Indian bullion market witnessed a massive surge in gold prices on Monday, with rates skyrocketing to an all-time high. In Delhi’s bullion market, gold prices jumped by ₹9,700 in a single day, reaching an unprecedented ₹1,30,300 per 10 grams — the highest ever recorded in the country.

This historic rise means that customers will now have to pay well over ₹1.25 lakh to buy just 10 grams of gold jewellery, a record-breaking milestone that has stunned traders and consumers alike.

Alongside gold, silver prices also soared sharply. Silver futures surged by ₹2,233, touching a new record of ₹1,47,977 per kilogram.

Why are gold and silver prices skyrocketing?

According to market experts, several domestic and global factors have triggered this unprecedented rally in precious metals. The primary reason is global economic uncertainty — driven by the U.S. government shutdown deadlock, rising geopolitical tensions, and investors shifting from risky assets like equities to safe havens like gold.

Additionally, the decline in the Indian rupee against the U.S. dollar has made gold imports costlier, directly pushing up domestic prices. Strong festive and wedding season demand has also prompted heavy speculative buying in the futures market, further boosting prices.

On the Multi Commodity Exchange (MCX), December gold futures reached ₹1,20,075 per 10 grams, while February 2026 contracts touched ₹1,21,350 per 10 grams — both marking lifetime highs.

Global gold rally continues

Internationally too, gold and silver prices are on fire. December gold futures jumped by 2% to $3,973.60 per ounce, while silver climbed to $48.58 per ounce, both hitting record peaks. Analysts believe that as long as economic and political uncertainties persist worldwide, precious metals like gold and silver will continue to shine brighter as safe-haven assets.