New Delhi, India — February 9, 2026
Gold and silver prices posted a strong rebound on Monday after last week’s sharp volatility, with both precious metals gaining momentum across domestic and international markets.
According to bullion market data, silver prices jumped ₹14,800 per kilogram, taking the metal close to ₹2.65 lakh/kg, while gold climbed by nearly ₹3,000, approaching ₹1.58 lakh per 10 grams in the domestic market.
💰 Domestic Bullion Market Update
Data from bullion websites showed:
Silver: Up ₹14,800 to around ₹2.65 lakh per kg
Gold: Up ₹3,050 to approximately ₹1.58 lakh per 10 grams
In early trade on Multi Commodity Exchange (MCX):
Silver rose ₹5,185 to ₹2.49 lakh per kg
Gold gained ₹3,428 to ₹1.55 lakh per 10 grams
🌍 International Gold and Silver Prices
In Asian trading hours, precious metals also moved higher:
Spot gold climbed about 1.18% to $5,040 per ounce
Spot silver surged 3.39% to trade near $79.89 per ounce
Despite Monday’s rally, both metals remain below their all-time highs. Gold is still about 11.27% below its record peak of $5,608.35, while silver has fallen roughly 52.29% from its January 29 high of $121.67 per ounce.
📌 What’s Driving the Rally?
Market analysts attribute the surge primarily to political developments in Japan, where the ruling prime minister Sane Takaichi secured a decisive election victory.
The outcome has strengthened expectations of a more accommodative fiscal policy, putting pressure on the Japanese yen — a combination traditionally viewed as supportive for gold prices. According to Bloomberg, these factors are currently boosting demand for precious metals.
🇺🇸 Focus Shifts to US Economic Data
Investor attention is now turning toward key US macroeconomic indicators that could influence the policy outlook of the Federal Reserve.
January employment data is expected on Wednesday
Inflation data is scheduled for release on Friday
These reports may offer fresh clues about interest rate direction and overall economic stability.
📉 Why Did Prices Fall Last Week?
Gold and silver witnessed a sharp sell-off last week due to:
Profit booking
Strengthening US dollar
Rising real bond yields
These factors temporarily reduced the appeal of precious metals as safe-haven assets.
🔎 Market Outlook
Analysts say short-term movements in gold and silver will likely remain sensitive to global political developments and US economic data. While volatility may persist, safe-haven demand could continue to provide support if uncertainty rises further.
