The Indian bullion market witnessed a sharp escalation in the prices of precious metals on February 24. According to data released by the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold rose by ₹1,283 to reach ₹1,59,503. This follows a previous closing of ₹1,58,220 per 10 grams. In total, gold prices have surged by approximately ₹5,000 within just two active trading sessions.
Silver prices followed a similar upward trajectory, increasing by ₹2,460 to settle at ₹2,66,535 per kilogram. On the preceding day, silver was priced at ₹2,64,075 per kilogram. Notably, silver had already seen a massive jump of ₹13,000 in the previous session, bringing the cumulative increase over the last two days to more than ₹16,000. This rapid appreciation is being attributed to a combination of global market trends and domestic demand factors.
Significant Price Fluctuations Over Two Trading Days
The volatility observed in the gold and silver markets over the past 48 hours has Notably impacted previous price benchmarks. 59 lakh milestone. The movement in silver has been even more pronounced. The cumulative ₹16,000 rise within two days has brought the supply-demand dynamics of silver into focus at both industrial and retail levels. According to officials, these fluctuations are a direct result of price adjustments in the international market and shifts in currency exchange rates.
Performance and All-Time Highs in 2026
Since the beginning of 2026, gold and silver prices have remained in a state of constant flux. So far this year, gold has become dearer by ₹26,000, while silver has seen an increase of ₹36,000.86 lakh per kilogram. While current prices remain below those record levels, the recent two-day surge indicates a renewed upward momentum in the bullion sector.
Historical Context: The Massive Growth of 2025
Reflecting on the previous year, 2025 was a period of extraordinary gains for precious metals. 33 lakh by December 31, 2025. This represented an annual growth of approximately 75% or ₹57,000. Silver outperformed gold in terms of percentage growth during the same period. 30 lakh per kilogram by the end of 2025, marking a 167% annual increase.
Global Demand and Central Bank Procurement Trends
According to a report by investment banking firm UBS, global demand for gold remains solid. Data indicates that central banks worldwide purchased 863 tons of gold in 2025. Projections for 2026 suggest that this procurement could rise to 950 tons. On top of that, investment in Gold Exchange Traded Funds (ETFs) is expected to grow, with estimates reaching 825 tons. 80 lakh per 10 grams.
Essential Guidelines for Gold and Silver Consumers
Amidst these significant price movements, authorities have emphasized the importance of consumer awareness during purchases. The primary standard for quality assurance is the Bureau of Indian Standards (BIS) hallmark, while , AZ4524) on jewelry, which confirms the purity and caratage of the metal. Also, it's recommended to cross-verify daily rates from official sources like the IBJA website, as prices vary Notably between 24-carat, 22-carat, and 18-carat gold categories.