Gold and silver prices rose on Tuesday, settling higher in both domestic and international markets amid renewed investor interest driven by macroeconomic developments and geopolitical tensions.In India, the gold futures contract on MCX in February settled at Rs 1,37,885 per 10 gram, up 0.83%, while the silver futures contract in March ended at Rs 2,19,653 per kilogram, up sharply by 3.19%. These gains matched international trends, with both precious metals reaching new lifetime highs.
Silver in particular extended its record-breaking run by crossing the $70 per ounce mark for the first time in European trading on December 23, 2025. The price rose to $72 and continued to rise 35% last month and 139% year-over-year. From a starting price of around $29 earlier this year, silver is up more than 144% so far this year, marking its best annual performance since 1979. The rally pushed the metal past the inflation-adjusted peak of 1980, underscoring the size of this year’s gains.
Gold also showed strength, climbing above the $4,500 per troy ounce mark and now looking towards the $4,890 level. The silver price now appears to be heading towards the $78 per troy ounce zone.
Manoj Kumar Jain of Prithvifinmart Commodity Research attributed the bullish momentum to robust US GDP growth of 4.3% in the third quarter, which has fueled expectations of a Federal Reserve rate cut at its January policy meeting. Moreover, the US president’s intention to replace the Fed chairman in January has further fueled sentiment around precious metals. “The shift in investor focus from riskier assets to safe haven instruments amid global uncertainties continues to support prices,” Jain noted. He expects volatility in gold and silver to continue this week due to swings in the US Dollar Index (DXY), which last hovered around 97.81, up 0.09 points or 0.09%, as well as broader market volatility in the run-up to the Christmas holidays.
Trading strategy
Jain suggests that traders take note of the following key technical levels on MCX:
- Gold: Support at Rs 1,36,660 – Rs 1,35,800 and resistance at Rs 1,38,850 – Rs 1,40,000
- Silver: Support at Rs 2,17,700 – Rs 2,16,000 and resistance at Rs 2,22,000 – Rs 2,25,000
He recommends booking a profit of around Rs 1,40,000 for gold and Rs 2,24,000 for silver ahead of the festive season, while advising investors to look for corrective dips to initiate new long positions.
Gold rates in physical markets
Gold Price Today in Delhi
The standard gold price (22 carat) in Delhi is Rs 1,03,736/8 gram, while the price of pure gold (24 carat) is Rs 1,11,696/8 gram.
Gold Price Today in Mumbai
The standard gold price (22 carat) in Mumbai is Rs 1,02,872/8 gram, while the price of pure gold (24 carat) is Rs 1,10,736/8 gram.
Gold Price Today in Chennai
The standard gold price (22 carat) in Chennai is Rs 1,02,552/8 gram while the price of pure gold (24 carat) is Rs 1,10,416/8 gram.
Gold Price Today in Hyderabad
The standard gold price (22 carat) in Hyderabad is Rs 1,02,728/8 gram while the price of pure gold (24 carat) is Rs 1,10,656/8 gram.
(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times)
#Silver #hits #high #lakhkg #gold #drives #demand #safe #havens