Precious metal prices in India — especially in Delhi
Precious metal (Silver & Gold) prices in India — especially in Delhi
On January 29, 2026, silver prices in Delhi officially crossed the ₹4,00,000 per kilogram mark for the first time ever.
According to the All India Sarafa Association, silver futures jumped by about ₹19,500 (≈5%) in a single session to around ₹4,04,500/kg (inclusive of taxes).
This solidified a blistering rally — silver has risen sharply from earlier levels and climbed nearly 70% so far this year.
Gold Also Hitting New Peaks
At the same time, gold prices hit a fresh all-time high, with 99.9% purity gold trading around ₹1,83,000 per 10 grams in Delhi markets.
This marked a strong jump from recent levels, reflecting broad strength in precious metals.
Analysts point to a few major drivers behind this surge:
• Global Safe-Haven Demand
Heightened geopolitical tensions and economic uncertainty have pushed global investors toward safe assets like gold and silver — traditionally seen as hedges against risk.
• Weak US Dollar & Macro Conditions
A softer US dollar and expectations around interest rates are boosting bullion markets worldwide, allowing prices on foreign exchanges to climb — which then ripples into Indian markets.
• Strong Industrial Demand for Silver
Unlike gold, silver also has large industrial uses (electronics, solar panels, etc.). Its demand in those sectors has been rising, adding extra buying interest beyond just investment demand.
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