New Delhi | January 21, 2026
Gold–Silver Continue to Surge, Beating Stock Market Returns — Check Today’s Latest Sarafa Market Update
The bullion market witnessed another day of sharp gains on 21 January 2026, as gold and silver prices continued their upward rally, delivering strong returns for investors. However, rising prices have triggered concern among consumers and jewellers, especially ahead of the wedding season.
After delivering stellar returns in 2025, both metals have begun 2026 with even stronger momentum, outperforming several stock market indices and major equity holdings.
Why Are Gold–Silver Prices Rising?
Market experts attribute the latest surge to:
Escalating geopolitical tensions involving Greenland
Global uncertainty
Safe-haven buying from investors
Strong demand in international markets
These factors have pushed both global and domestic bullion prices to fresh highs.
International Gold & Silver Prices
As of late Tuesday night on COMEX:
Gold: $4,748.30 per ounce
Silver: $94.160 per ounce
By Wednesday morning, prices climbed further:
Gold: $4,787.40 per ounce
Silver: $94.890 per ounce
The upward trend reflects rising safe-haven demand amid international instability.
Jewellers Concerned as Prices Move Beyond Consumer Reach
According to Manish Verma, owner of Shri Shyam Jewellers:
“Gold and silver have become too expensive for the average buyer. Many families are postponing their jewellery purchases due to rising prices.”
Jewellers fear that the sharp price rise may hurt demand during the upcoming wedding season, traditionally the busiest period for India’s bullion trade.
Concerns include:
Decline in footfall
Drop in bridal jewellery orders
Reduced inventory purchases by retailers
Latest Delhi Gold–Silver Rates (21 January 2026)
| Category | Price (per 10g) |
|---|---|
| 24K Gold | ₹1,49,920 |
| 22K Gold | ₹1,37,460 |
| 18K Gold | ₹1,12,480 |
| Metal | Price |
|---|---|
| Silver (1kg) | ₹3,20,100 |
Delhi remains one of the costliest bullion hubs due to premium retail demand and refined imports.
Consumer Impact
While investors are celebrating high returns, the soaring prices have:
Pushed jewellery purchases beyond the reach of many middle-class families
Triggered a cautious approach among wedding planners
Reduced discretionary buying in sarafa markets
Industry observers warn that if prices continue to rise, the wedding season demand may drop significantly this year.
