New Delhi | February 24
Gold prices continued their upward momentum on Monday, extending gains for the second consecutive trading session, while silver witnessed a mild correction. According to data released by the India Bullion and Jewellers Association (IBJA), 24-carat gold rose by ₹1,021 to settle at ₹1,59,241 per 10 grams.
With this increase, gold prices have climbed nearly ₹4,000 in just two trading days, reflecting sustained demand amid global economic uncertainty. In contrast, silver prices declined by ₹1,163, with one kilogram of silver trading at ₹2,62,912, compared to ₹2,64,075 per kg in the previous session.
Gold and Silver Rally in 2026 So Far
The precious metals market has seen significant volatility this year. Since the beginning of 2026, gold prices have surged by approximately ₹26,000 per 10 grams, while silver has gained nearly ₹33,000 per kg.
Earlier this year, on January 29, gold touched an all-time high of ₹1.76 lakh per 10 grams, while silver reached a record ₹3.86 lakh per kg, driven by global geopolitical tensions, currency fluctuations, and strong investment demand.
Strong Performance in 2025
The rally in precious metals has been particularly pronounced over the past year. In 2025 alone, gold prices jumped by nearly ₹57,000, marking a growth of around 75 percent. On December 31, 2024, gold was priced at about ₹76,000 per 10 grams, which rose to ₹1.33 lakh by the end of 2025.
Silver outperformed gold in percentage terms, rising by nearly 167 percent in 2025. Prices climbed from ₹86,000 per kg at the end of 2024 to around ₹2.30 lakh per kg by December 2025.
Gold May Touch ₹1.80 Lakh: UBS
Global investment bank UBS remains bullish on gold prices. According to the bank, strong demand from central banks and investors is likely to support prices in the coming months.
UBS noted that global central banks purchased around 863 tonnes of gold in 2025, and this figure could rise to 950 tonnes in 2026. Additionally, gold ETF investments are expected to increase to 825 tonnes, further strengthening demand.
The bank projects that gold prices could touch $6,200 per ounce by mid-2026. In Indian currency terms, this translates to a potential price level of ₹1.80 lakh per 10 grams, if current trends persist.
What Buyers Should Keep in Mind
Experts advise consumers and investors to exercise caution while purchasing gold:
- Always buy BIS hallmarked certified gold to ensure purity.
- Cross-check daily prices from reliable sources such as IBJA, as rates vary by purity (24K, 22K, and 18K) and location.
With global uncertainties, inflation concerns, and strong institutional demand, gold continues to strengthen its position as a preferred safe-haven asset, while silver remains volatile due to industrial demand fluctuations.
