Gold At ₹1.6 Lakh, Silver Soars: Devina Mehra On What 2026 Holds For Precious Metals

Gold and silver have stunned markets, with gold touching ₹1.6 lakh per 10 gm and silver surging to ₹3.75 lakh. But is this rally sustainable? In this conversation, Devina Mehra, Founder & CMD of First Global, brings critical perspective rooted in data and history. She reminds us that gold’s last comparable rally dates back to 1979 - and that every major peak was followed by long periods of underperformance. Challenging the popular belief of gold as a “safe haven,” she explains why gold is actually more volatile than equities in dollar terms. Devina also shares how First Global approaches precious metals - using them strictly as diversification tools with limited allocation - while flagging overlooked risks, including central bank gold holdings. A must-watch reality check for 2026 investors.