Gold February futures opened at Rs 1,35,529 per 10 grams on the Multi Commodity Exchange (MCX), rising by over Rs 82, or 0.06%, from the previous close. Silver prices, however, outperformed sharply. The March futures contract surged by Rs 2,032, or 0.86% to open at Rs 2,37,732 per kilogram on the MCX. The rally follows an exceptional performance in the previous year, with silver prices having jumped by more than 150% in 2025.
Market participants are also factoring in the impact of Chinese export restrictions that come into effect from today, which are expected to influence silver prices during the year. According to Manoj Kumar Jain of Prithvifinmart Commodity Research, this development has “fueled a record rally in silver,” along with renewed geopolitical tensions between the United States and Venezuela.
Gold, meanwhile, continues to find support from expectations that real yields may remain constrained even as inflation moderates. Inderbir Singh Jolly of PL Wealth said such an environment has historically been supportive for gold prices. He added that while some consolidation is natural after a sharp run-up, the medium-term outlook remains positive, with gold expected to continue playing a critical stabilising role in diversified portfolios heading into 2026.
International markets were closed on January 1 on account of the New Year
Gold rates in physical markets
Gold Price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 99,032/8 grams while pure gold (24 carat) prices stand at Rs 1,08,024/8 grams.
Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 98,912/8 grams while pure gold (24 carat) prices stand at Rs 1,07,904/8 grams.
Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 99,832/8 grams while pure gold (24 carat) prices stand at Rs 1,08,912/8 grams.
Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 98912/8 grams while pure gold (24 carat) prices stand at Rs 1,07,904/8 grams.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)