India, Feb. 1 -- Gold and silver prices witnessed a surge at the beginning of 2026, with the former's prices peaking above USD 5,500 (AUD 7,900) per ounce for the first time on Thursday this week. In India, 24 karat gold reached record level of Rs.1.8 lakh per 10 gram earlier this week before starting to drop.

Silver, which gained even faster than gold, went more than USD 120 (AUD 172) per ounce last week. This was among its strongest run in decades, The Conversation reported. Track gold, silver prices today here

However, the safe-haven assets' prices crashed on Friday, with gold dropping to around USD 5068 (AUD 7,282), and silver to to USD 98.50.

According to the All India Sarafa Association, silver saw a sharp drop of 18.85 per cent ...