New Delhi, January 29, 2026: Gold and silver prices surged sharply on Thursday, reaching record highs on the Multi Commodity Exchange (MCX) amid safe-haven buying, a weaker U.S. dollar, and global economic uncertainty.
Gold futures rose 2.5 % today, reaching around ₹1,77,500 per 10 grams. Silver surged over 7 %, crossing ₹4,00,000 per kilogram, marking a historic high in domestic markets.
Short-Term Price Gains
Investors have witnessed strong returns over the past month:
Silver has risen nearly 60 % since January 1, 2026, up from ₹2,38,000 per kg to ₹3,80,000 per kg.
Gold is up around 12 % in January, climbing from ₹1,58,000 per 10 grams to ₹1,77,500.
Over the past week, silver gained about ₹45,000 per kg, while gold added ₹6,500 per 10 grams.
These sharp increases have drawn significant attention from investors and retail buyers alike.
Why Prices Are Rising
Analysts cite several factors behind the surge:
Safe-haven demand amid global market volatility and geopolitical tensions.
Weaker U.S. dollar, which makes bullion more attractive for international buyers.
Industrial demand for silver, particularly in solar panels, electronics, and electric vehicles.
Domestic factors such as a weaker rupee, boosting import costs and pushing local prices higher.
Impact on Investors and Buyers
Investors: Gold and silver remain reliable hedges, with strong %age gains highlighting attractive returns. However, experts caution that rapid surges may lead to short-term corrections.
Buyers: Jewellery and physical metal are more expensive today. Many suggest staggered purchases or waiting for dips instead of buying at peak prices.
Outlook
Analysts expect prices to stay elevated in the near term due to continued global uncertainty. Nevertheless, high volatility and potential profit booking could trigger short-term corrections. Monitoring currency movements and central bank policy decisions will be essential.