Gold, Silver Prices Surge Massively: Rupee Weakness, Budget Fears Drive Record Premiums
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News18•21-01-2026, 19:50
Gold, Silver Prices Surge Massively: Rupee Weakness, Budget Fears Drive Record Premiums
- •Indian gold and silver markets saw unprecedented premiums: $112/ounce for gold and over $8/ounce for silver, highest in a decade.
- •The massive surge is attributed to the rupee weakening to an all-time low of 91.74 against the US dollar, increasing import costs.
- •Fears of increased import duties on gold and silver in the upcoming Union Budget to curb trade deficit are driving premiums.
- •Domestic gold hit Rs. 1,58,339 per 10 grams, and silver reached Rs. 3,35,521 per kilogram, both all-time highs.
- •Despite reduced jewelry purchases, investment demand for gold coins, bars, and ETFs has surged, indicating a shift in consumer preference.
Why It Matters: Rupee depreciation and budget fears have caused gold and silver prices to skyrocket with record premiums.
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