The price of gold and silver jumped to record highs today, 19 January 2026. Gold passed Rs. 1,45,000 per 10 grams, and silver reached Rs. 3,00,000 per kilogram. This occurred as a direct consequence of the US imposing 25% tariffs on European imports.
Investors are now nervous about a global trade war and are investing in precious metals to ensure financial safety. This safe-haven buying has made the US dollar weaker and pushed metal prices to levels never seen before.
The price jump is not just a short-term trend. It is happening as the world is shifting its perspective on how it values metals. The US is competing with Europe over trade taxes, while China is making it harder to purchase silver as the country controls most of the world’s silver processing.
China has recently drafted new rules that limit the quantity of silver exports. Silver is now an important mineral used in solar panels, electric cars, and AI computers. This has dramatically increased the usage of silver more than it has been mined during the past five years.
These record highs in gold and silver are hurting small businesses and regular families. Small jewelry shops and electronics makers are in trouble as silver is used to make parts for phones and appliances. Small companies cannot afford these high prices.
In Asia, gold is important for marriages; however, now that gold costs more than Rs. 1.45 lakh, many families cannot afford to purchase it. This has started a new trend of buying 14-carat gold and renting jewelry instead of owning it. In the future, people might stop buying new gold and start recycling old jewelry more often.
Central banks are also buying gold as they are losing trust in the US dollar. This move is positioning gold as the world's safety net again. The next few months will be difficult for the industry. We will likely see more companies recycling old electronics to access silver.