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In the new year, an increase of more than Rs 4500 has been seen in the prices of silver.Image Credit source: ChatGPT

A tremendous increase in the prices of gold and silver is being seen in the country's capital Delhi. Where silver is moving towards Rs 3.50 lakh per kg. On the other hand, the price of gold is increasing towards Rs 1.75 lakh. The special thing is that in the last 21 days, the price of gold in Delhi has seen an increase of more than Rs 1000 every day. At the same time, the prices of silver have increased by more than Rs 4500. Experts say that as long as Trump's tariffs continue, gold and silver prices will continue to rise.

The trend of rising prices of gold and silver has increased further after the Greenland Tariff. The tariff war between Europe and America is becoming increasingly fierce. The way Trump has threatened to attack European countries over Greenland. Due to this, the trend of investors has increased even more towards safe haven. On the other hand, an increase in the prices of gold and silver is also being seen in foreign markets. Let us also tell you what the prices of gold and silver have become in Delhi bullion market.

Gold made a new record in Delhi

Continuing their record-breaking rally, gold prices hit a new record high of Rs 1.60 lakh per 10 gram in the national capital on Wednesday, while silver touched a new peak of Rs 3.34 lakh per kg amid global demand for safe investment options. According to All India Bullion Association, gold of 99.9 per cent purity rose by Rs 6,500, or 4.24 per cent, to Rs 1,59,700 per 10 grams (including all taxes). On Tuesday, gold crossed the important mark of Rs 1.5 lakh per 10 grams for the first time in the national capital.

The special thing is that in the month of January, an increase of Rs 22,000 has been seen in the prices of gold. If we look at the data, the price of gold in Delhi was Rs 1,37,700 on 31 December 2025, which has reached Rs 1,59,700 on 21 January 2026. This means that in the new year, the price of gold has seen an increase of Rs 1,048 per ten grams every day.

Silver prices continue to rise

On the other hand, silver prices also continued to rise for the ninth consecutive day and created a new record in the local bullion market. On Wednesday, the price of white metal (silver) increased by a huge Rs 11,300 and reached Rs 3,34,300 per kg (including all taxes). In the last trading session, the metal rose by Rs 20,400 and closed at Rs 3,23,000 per kg. The special thing is that in the month of January, the prices of silver have increased by just less than one lakh rupees.

If we look at the data, the price of silver in the country's capital Delhi was Rs 2,39,000 per kg on December 31, 2025. Which has increased to Rs 3,34,300 on January 21. This means that till now an increase of Rs 95,300 has been seen in the prices of silver. If we look at it on a daily basis, the price of silver has increased by Rs 4,538 per kg.

Why did the increase occur?

Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities, said that gold and silver touched new record highs on Wednesday. Due to continued demand as a safe investment and strong investment in gold and silver backed exchange-traded funds, they witnessed a record-breaking surge. He further said that due to shortage in supply, strong investment demand and weak rupee, both the metals are being traded in the domestic market at a much higher premium than the international prices. Gandhi said these factors have kept domestic prices high compared to global benchmarks.

Gold and silver prices in foreign markets

According to trading platform FOREX.com, the price of gold in the international market crossed the level of US $ 4,800 an ounce for the first time, with spot prices rising by US $ 124.97 or 2.62 percent to reach US $ 4,888.46 an ounce. Praveen Singh, Research Analyst, Mirae Asset Sharekhan, said that spot gold prices in global markets have increased by more than 2 percent due to rising tensions between the US and the EU over Greenland and a surge in global yields due to fiscal and inflationary concerns.

Spot silver prices in the foreign market registered an increase of 0.33 percent on Wednesday and reached US $ 94.91 an ounce, whereas in the previous session it had reached a record level of US $ 95.89 an ounce. Analysts say that this surge in bullion prices is due to the current geopolitical differences and economic challenges, which are increasing the demand for silver as a safe investment.

How far can gold and silver prices go?

Renisha Chainani, head of research at Augmont, said investors were closely watching Europe's response to the threat of tariffs being opposed by the eight countries, as well as developments at Davos, where Trump is expected to discuss the issue with global leaders. He said these developments point to a rising wave of “resource nationalism” among major powers, and that America's stance toward NATO allies is destabilizing global markets. Chainani further said that in this environment of increased geopolitical risks and widespread uncertainty, demand for gold has increased rapidly, and as risk aversion persists, prices could potentially rise to US$5,000 an ounce.