Gold Hits Record High, Touches Rs 1.58 Lakh Per 10 Grams | Kashmir Life

SRINAGAR: Gold prices in India have surged to a fresh historic peak, with 24-carat. In Kashmir, the 24-carat gold per 10-gram MMTC Coin has reached around Rs 1,58,000 on Tuesday. The price of 18-carat gold per gram in Kashmir currently stands at Rs 13,000. The rally, driven by a combination of escalating global trade tensions and a weakening rupee, has set a new benchmark for the precious metal in the domestic market.

In early trading on January 20, 2026, standard 24-carat gold reached a national average of Rs 1,47,270, representing a significant intraday gain of approximately Rs 870. The surge was most pronounced in southern markets, with prices in Chennai and Thiruvananthapuram touching nearly Rs 1,47,500. Market analysts attribute this “bull run” to the sudden escalation in trade hostilities between the United States and the European Union, which has forced institutional investors to seek shelter in safe-haven assets.

The domestic spike follows a remarkable period of growth where gold has outperformed traditional equities, delivering nearly 20 per cent returns compared to the Nifty’s 8.7 per cent over recent months. On the Multi Commodity Exchange (MCX), gold futures for February delivery also witnessed robust buying, trading near Rs 1,45,500 as speculators anticipate further global instability.

Furthermore, “old gold” exchanges have hit a three-year high, with many retailers reporting that over 40 per cent of their current sales are being funded by customers trading in vintage jewellery. Meanwhile, digital gold and Gold ETFs (Exchange-Traded Funds) have seen record inflows, as younger investors look to capitalise on the price momentum without the added cost of “making charges.”

Looking ahead, financial experts warn that volatility is likely to persist.