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Significant Price Increases in Precious Metals

This week, the prices of gold and silver in jewelry markets across India have taken many by surprise. Notably, silver has seen a remarkable increase, soaring nearly ₹20,000 per kilogram within just a week. Gold prices are also on a consistent rise. The ongoing global uncertainties, fluctuations in crude oil prices, and a growing interest among investors in safe-haven assets are contributing to the upward trend in precious metals.

Record Surge in Silver Prices

According to data from the jewelry market, the recent surge in silver prices is considered one of the largest jumps in recent times. A few days ago, silver was trading around ₹2.44 lakh, but it has now surpassed ₹2.61 lakh per kilogram. Since the beginning of this year, silver prices have increased by approximately ₹25,000. The All India Jewelers Association reports that this rise is due to increased international demand for silver and fluctuations in the dollar's value.

Gold Prices Exceed ₹1.53 Lakh

Alongside silver, gold prices are also experiencing a significant upward trend. In the Delhi jewelry market, the price of gold has reached ₹1,53,700 per 10 grams. Notably, gold prices have risen by over ₹18,000 so far in 2026.

Latest Prices as of May 9, 2026

• 24 Carat Gold: ₹1,66,011 per 10 grams


• 22 Carat Gold: ₹1,52,940 per 10 grams


• Silver: ₹2,61,300 per kilogram

Key Factors Behind the Surge in Gold and Silver

Global Tensions: Rising geopolitical tensions in the Middle East have drawn investors towards gold as a safe investment.

Impact of Dollar and Crude Oil: Weakness in the dollar index and a decline in crude oil prices have also supported precious metals.

International Demand: Globally, gold prices have reached a record high of $4,723 per ounce, directly affecting Indian markets.