New Delhi | January 6, 2026
Gold and silver prices surged across domestic and international markets as escalating geopolitical tensions and economic uncertainty triggered a strong shift toward safe-haven investments.
On the Multi Commodity Exchange (MCX), silver prices witnessed a sharp rally during Tuesday’s trading session, moving close to the crucial psychological level of ₹2.5 lakh per kilogram. The March silver contract jumped 1.52 percent, gaining ₹3,733 to trade at ₹2,49,888 per kg. Trading activity remained robust, with nearly 12,105 lots exchanged as prices stabilized around ₹2,49,870.
Gold prices also advanced, though at a comparatively moderate pace. The February gold futures contract rose by ₹445, or 0.32 percent, to settle at ₹1,38,565 per 10 grams on MCX, supported by rising global prices and a weaker rupee.
International Market Performance
In global markets, precious metals continued their upward momentum. On COMEX, February gold futures climbed $24.9, or 0.56 percent, to reach $4,476.4 per ounce. Silver prices extended gains for a third consecutive session, rising $1.79, or 2.34 percent, to $78.45 per ounce for March delivery.
Geopolitical Risks Boost Bullion Demand
According to Jigar Trivedi, Senior Research Analyst at Reliance Securities, political instability in Venezuela has significantly boosted demand for gold as a safe-haven asset, pushing prices above the $4,450-per-ounce mark for the third straight session.
Commodity expert Ratnam Chandra added that strong statements and threats by US President Donald Trump toward Colombia, Cuba, and Mexico over alleged narcotics shipments have intensified pressure on investor sentiment. Reports of Swiss banks seizing assets linked to Venezuelan President Nicolás Maduro further strengthened bullish sentiment for precious metals.
Meanwhile, the continued weakness in the Indian rupee provided additional support to domestic gold and silver prices. Market participants are now closely watching key US employment data scheduled for release later this week, which could offer fresh cues on the future policy direction of the Federal Reserve.
