Gold Price at ₹1.6 Lakh in Mumbai, Delhi; Silver Surges 3% to ₹2.69 Lakh/kg
The gold price has been in the spotlight again. In major Indian markets like Mumbai and Delhi, gold is now trading near ₹1.6 lakh per 10 grams for 24‑carat gold. Silver has also caught attention, jumping more than 3% to around ₹2.69 lakh per kilogram. These movements are shaping how consumers, investors, and traders think about precious metals right now.
Gold Price Surge: ₹1.6 Lakh in Mumbai, Delhi
- Current Rates: 22K gold ~₹147,290/10g in Mumbai, ~₹147,033/10g in Delhi. 24K gold ~₹160,680/10g Mumbai, ~₹160,400/10g Delhi.
- Reason for Surge: Global uncertainty and domestic demand push gold higher.
- Domestic Drivers: Festivals, weddings, and traditional buying increase demand.
- Global Drivers: Safe-haven buying amid inflation worries and geopolitical tension.
- Recent Trend: Prices climbed ~7% in February 2026.
- Currency Impact: Weaker rupee makes imports costlier, raising local gold prices.
Silver’s 3% Surge: ₹2.69 Lakh/kg
- Current Rate: Silver at ~₹2.69 lakh/kg, up over 3%.
- Global & Domestic Factors: Investment flows, industrial demand, and macroeconomic signals drive prices.
- Industrial Use: Electronics, solar panels, and medical devices boost demand.
- Volatility: Silver is more volatile than gold due to dual demand (industrial + investment).
- Futures Update: Some futures traded near ₹2.75 lakh/kg on exchanges.
Impact on Consumers and Investors
Consumers:
- Higher Costs: Jewelry and ornaments become more expensive.
- Wedding Impact: 10g of gold purchases now cost significantly more than last year.
- Small Quantities Add Up: Even minor price changes increase overall spending.
Investors:
- Paper Gains: Early buyers see profits as gold rises.
- Hedge: Gold protects against inflation and stock market volatility.
- Profit Booking: Sudden rises may trigger short-term selling.
- Silver Diversification: Offers an alternative investment but with higher risk.
- Portfolio Insurance: Gold acts as a safety net in uncertain markets.
Regional Differences: Mumbai vs. Delhi
- Mumbai (24K): ~₹160,680/10g
- Delhi (24K): ~₹160,400/10g
- Price Gap: Differences due to taxes, transport, and jeweler margins.
- National Trend: Other cities like Chennai and Kolkata show similar highs.
Future Outlook for Gold and Silver
Expert Forecasts:
- Gold: Expected to continue rising in the near term due to global concerns.
- Silver: Volatile but potential upside from industrial demand.
Key Influences:
- Global Data: Inflation and central bank policies affect prices.
- Geopolitics: Conflicts and trade tensions impact markets.
- Festivals/Weddings: Seasonal demand spikes gold and silver buying.
- Currency Movements: USD/INR fluctuations affect import costs.
Market Implications:
- Short-term bumps are likely, but long-term demand remains strong in 2026.
Conclusion
Gold prices in India have crossed the ₹1.6 lakh mark in major cities like Mumbai and Delhi. Silver has also surged, gaining over 3% to around ₹2.69 lakh per kilogram. These moves reflect a mix of global uncertainty and strong domestic demand. Whether you’re a buyer or an investor, understanding these trends helps you make better decisions in today’s volatile market.
For now, gold remains more than just a metal; it’s a key economic barometer.
FAQS
The 24K gold price is around ₹1.6 lakh per 10 grams in both Mumbai and Delhi.
Prices are increasing due to global uncertainty, domestic demand, and a slightly weaker rupee.
Investors see gains as gold acts as a safe-haven asset, while buyers face higher costs for jewelry and gifts.
Gold is expected to trend upward, and silver may remain volatile but with potential for gains due to industrial and investment demand.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.