Gold Price Surge: Who Wins and Who Loses as Yellow Metal Shines?

• Gold prices are continuously rising, with 24-carat gold reaching ₹1.60-₹1.62 lakh per 10 grams in January 2026.
• Homemakers and rural families benefit as the value of their existing gold stock, exceeding 25,000 tons in Indian households, significantly increases.
• Investors in Gold ETFs, Sovereign Gold Bonds, and Digital Gold see good returns, with gold rising 64% last year (2025) and 18-20% in 2026.
• Jewelers, jewelry shops, and artisans face losses due to increased raw material costs, impacting their business.
• New jewelry buyers and the Indian economy are negatively affected by higher prices, leading to disrupted budgets, postponed purchases, and a widening Current Account Deficit due to increased import bills.

Why It Matters: Rising gold prices create winners among existing owners and investors, but losers among new buyers and businesses.