Gold, Silver Rates Today Highlights: Silver price hits $100, gold rate near $5,000/oz; experts see more upside

Traders use the gold-silver ratio to gauge market trends and decide when one metal offers better value than the other. Historically, the gold–silver ratio has a long-term average near 70, with the current level of 50 placing it close to its lows. Such levels have historically been unsustainable, with the ratio reverting tohigher over time.

The gold-silver ratio has compressed from pandemic highs ~127 to ~50 at the start of 2026, signalling that a large part of silver’s catch-up trade has already played out.

The sharp 200% surge in silver prices over the past 12 months has not only outpaced gold’s 80% return but has also compressed the gold–silver ratio. This has led domestic brokerage Motilal Oswal Financial Services (MOSFL) to suggest that gold is better positioned for the next leg of the upmove in the precious metals space.

Noted book ‘Rich Dad Poor Dad’ writer Robert Kiyosaki has said that silver prices may touch $200 per ounce in 2026, advising investors to look for a bottom-fishing opportunity on every big dip in the precious white metal.

Gold price in India is trading positive after yesterday’s strong late-evening recovery, once again touching fresh all-time highs. Ongoing U.S.-led geopolitical uncertainty around trade tariffs, Venezuela, Greenland, and rising debt concerns continues to keep safe-haven demand elevated. Gold has found strong support near ₹1,50,000 over the last two sessions; a sustained close below this level could trigger profit booking. However, as long as ₹1,50,000 holds, the momentum remains intact and prices could extend towards ₹1,65,000 in the coming sessions.

— Jateen Trivedi, VP Research Analyst — Commodity & Currency at LKP Securities

Extending the early morning gains, the MCX gold rate today climbed to an intraday high of ₹1,59,226 per 10 gm. However, profit-booking triggered at higher levels and the MCX gold rate is currently quoting ₹1,57,238, around ₹900 up from yesterday's close of ₹1,56,341 per 10 gm.

The COMEX silver price finally hit $100 per ounce and hit a new peak of $101.168/oz. The COMEX gold rate today climbed to a new peak of $4,989.54/oz

For over five decades, silver prices were heavily suppressed despite silver being a monetary metal. During this long phase of mispricing, silver quietly evolved into something far more powerful: a strategic, irreplaceable industrial metal embedded deep inside the architecture of the new economic order.

As silver reclaims its monetary role alongside gold, it is also:

• Extracting the USD reserve-currency premium
• Reflecting a shift towards de-dollarisation & de-globalisation

History is clear: Markets don't stop at fair value — they overshoot. The pendulum is now swinging from one extreme to the other.

The silver market is entering a volatile, asymmetric, and potentially historic phase, said Anindya Banerjee, Head of Currency and Commodity Research, Kotak Securities.

Precious metals have significantly outperformed Indian equities, reinforcing their role as effective portfolio stabilisers during periods of equity consolidation. Gold and silver have benefited from a combination of global factors, including sustained central bank demand, currency volatility and persistent geopolitical uncertainty. Silver has additionally been supported by its dual role as a precious and industrial metal amid constrained supply conditions.

Gold’s surge to record highs on the MCX reflects a powerful convergence of global risk factors and macroeconomic tailwinds. Heightened geopolitical tensions and persistent geoeconomic uncertainty have reignited safe-haven demand, while a softer US dollar has improved bullion’s attractiveness for global investors. Markets are increasingly pricing in the likelihood of future US Federal Reserve rate cuts, which has further reduced the opportunity cost of holding non-yielding assets such as gold. This combination of risk aversion, currency weakness, and shifting monetary policy expectations has driven sustained inflows into precious metals, positioning gold as a preferred hedge against volatility. The current breakout suggests that investors are structurally reallocating toward defensive assets rather than merely reacting to short-term headlines.

– Rahul Gupta, Chief Business Officer – Ashika Group

Gold and silver prices surged to fresh record highs on Friday, January 23, 2026, both in global markets and on India’s MCX, driven by strong safe-haven demand amid geopolitical uncertainty, a weakening U.S. dollar, and expectations of U.S. Federal Reserve rate cuts later this year. Spot gold hit an all-time high near $4,966 per ounce globally, while

MCX February gold futures climbed to around ₹1.59 lakh per 10 grams. Silver outperformed, with global spot prices nearing $99 per ounce and MCX March silver futures touching a lifetime high of ₹3.39 lakh per kg. We remain firmly bullish on the long-term outlook for precious metals, viewing any price corrections as attractive buying opportunities.

— Gaurav Garg, Research Analyst at Lemonn Markets Desk

Gold traded slightly positive with gains of ₹500 at ₹1,56,850 after yesterday’s strong late-evening recovery, once again touching fresh all-time highs. Ongoing U.S.-led geopolitical uncertainty around trade tariffs, Venezuela, Greenland, and rising debt concerns continues to keep safe-haven demand elevated.

Gold has found strong support near ₹1,50,000 over the last two sessions; a sustained close below this level could trigger profit booking. However, as long as ₹1,50,000 holds, the momentum remains intact and prices could extend towards ₹1,65,000 in the coming sessions.

— Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

Gold’s surge to record highs on the MCX reflects a powerful convergence of global risk factors and macroeconomic tailwinds. Heightened geopolitical tensions and persistent geoeconomic uncertainty have reignited safe-haven demand, while a softer US dollar has improved bullion’s attractiveness for global investors. Markets are increasingly pricing in the likelihood of future US Federal Reserve rate cuts, further reducing the opportunity cost of holding non-yielding assets such as gold.

— Rahul Gupta, Chief Business Officer at Ashika Group

MOSL suggests a split between bullion, with 75% allocation to gold and 25% to silver, indicating a preference for gold as a relatively steadier hedge in the current environment.

Despite strong price action, global silver ETFs have seen outflows of over 3 million ounces since the start of 2026, while gold ETFs have witnessed comparatively steadier inflows, reflecting investor preference for more defensive positioning.

— MOSL analyst Navneet Damani

A move back toward 65–70 would imply relative outperformance of gold, supporting a higher allocation to gold as a risk-managed positioning, not a negative view on silver. Furthermore, silver volatility has expanded significantly, with wider daily ranges and faster swings. Gold, on the other hand, continues to show trend stability with controlled pullbacks.

— MOSL analyst Navneet Damani

Traders use the gold-silver ratio to gauge market trends and decide when one metal offers better value than the other. Historically, the gold–silver ratio has a long-term average near 70, and the current level of 50 is close to its lows. Such levels have historically been unsustainable, with the ratio reverting to higher levels over time.

— MOSL analyst Navneet Damani

The gold-silver ratio has compressed from pandemic highs ~127 to ~50 at the start of 2026, signalling that a large part of silver’s catch-up trade has already played out.

— MOSL analyst Navneet Damani

Stressing its positive stance on precious metals, MOSL analyst Navneet Damani said the gold-silver divergence signals the need to rebalance weightings in investor portfolios.

The sharp 200% surge in silver prices over the past 12 months has not only outpaced gold’s 80% return but has also compressed the gold–silver ratio. This has led domestic brokerage Motilal Oswal Financial Services (MOSFL) to suggest that gold is better positioned for the next leg of the upmove in the precious metals space.

Jefferies has predicted gold prices at $6,600 per ounce; Yardeni Group $6,000; UBS at $5,400; JP Morgan and Charles Schwab at $5,050; and BofA and ANZ at $5,000. Targets set by other global brokerages for gold prices in 2026 have already been met in the first three weeks of the year.

The sharp surge in gold and silver ETFs is a clear reflection of how aggressively investors are repositioning toward safe-haven assets amid heightened global uncertainty. Gold prices trading near $4,950–$4,970 per ounce on COMEX, while silver rallies close to $99 per ounce, have pushed both metals firmly into record territory. This strength is being reinforced by a softer US dollar, persistent geopolitical tensions, and growing concerns around currency stability, all of which are driving strong ETF inflows as investors prefer liquid, regulated exposure. The move is equally striking, with gold prices approaching ₹1.6 lakh per 10 grams and silver nearing ₹3.5 lakh per kg, underscoring the global nature of the rally. While the momentum remains intact, such elevated levels also increase the risk of short-term volatility and profit-taking. Still, ETF demand suggests investor conviction in precious metals as a strategic hedge remains robust.

— Justin Khoo, Senior Market Analyst - APAC, VT Market

Higher-risk investors can invest in gold and silver ETFs instead of physical gold and silver, but investors with a low risk appetite are advised to invest in gold and silver mutual funds via SIP.

— Pankaj Mathpal, MD & CEO at Optima Money Managers

If an investor invests in gold and silver mutual funds through the SIP mode, they can minimise their risk while remaining invested in gold and silver.

— Pankaj Mathpal, MD & CEO at Optima Money Managers

Those with a high-risk appetite can consider investing in gold and silver ETFs, as market experts remain bullish on both. Gold and Silver ETFs will deliver returns in sync with the respective precious metals' rally.

— Pankaj Mathpal, MD & CEO at Optima Money Managers

Amid skyrocketing gold and silver prices, today's rates are oscillating around record highs. It would be highly risky to invest in gold and silver ETFs, as they are already trading at very high premiums.

— Pankaj Mathpal, MD & CEO at Optima Money Managers.

If an investor is planning to invest in gold and silver, ETFs can be a good option in comparison to physical gold and silver. ETFs allow even a small investor to start with a few hundred in one's pocket. So, a marginal investor can invest in gold and silver through the ETFs, which seems difficult for them in the retail physical market.

— SEBI-registered investment expert Jitendra Solanki

For a retail marginal investor, physical or spot prices have reached such high levels that their budget could become a hindrance to investment. For small and marginal investors, investing in gold and silver ETFs can be a good option, as they offer sufficient liquidity, ease of buying and selling, no depreciation, and no making charges at the time of selling, etc.

— Pankaj Mathpal, MD & CEO at Optima Money Managers

Gold, Silver Rates Today LIVE: The sharp surge in gold and silver ETFs is a clear reflection of how aggressively investors are repositioning toward safe-haven assets amid heightened global uncertainty. Gold prices trading near $4,950–$4,970 per ounce on COMEX, while silver rallies close to $99 per ounce, have pushed both metals firmly into record territory. This strength is being reinforced by a softer US dollar, persistent geopolitical tensions, and growing concerns around currency stability, all of which are driving strong ETF inflows as investors prefer liquid, regulated exposure, said Justin Khoo, Senior Market Analyst - APAC, VT Market.

The move is equally striking, with gold prices approaching ₹1.6 lakh per 10 grams and silver nearing ₹3.5 lakh per kg, underscoring the global nature of the rally. While the momentum remains intact, such elevated levels also increase the risk of short-term volatility and profit-taking. Still, ETF demand suggests investor conviction in precious metals as a strategic hedge remains robust, he added.

Gold, Silver Rates Today LIVE: MCX silver price continues to exhibit high-beta leadership, absorbing every minor correction with ease. The rising channel remains very steep, with the 20-day EMA near ₹3,24,000 providing strong dynamic support. Sustained trade above ₹3,40,000 keeps the bullish momentum firmly intact. Immediate upside targets are placed at ₹3,50,000 – ₹3,60,000, with further extension possible toward ₹3,70,000 – ₹3,75,000 over the coming months. Any pullback toward ₹3,28,000 – ₹3,20,000 should be viewed as a high-conviction accumulation zone, said Ponmudi R, CEO of Enrich Money.

Gold, Silver Rates Today LIVE: MCX gold price continues to track global strength, aided by a stable USD/INR band between 91.30 and 91.60. The rising channel remains intact, with the ₹1,57,000– ₹1,58,000 zone acting as a strong dynamic support area. Every decline is being absorbed swiftly, highlighting the dominance of buyers. A sustained breakout above ₹1,59,000– ₹1,60,500 is likely to accelerate the rally toward ₹1,63,000– ₹1,65,000. Overall structure remains strongly bullish, with momentum firmly on the upside, said Ponmudi R, CEO of Enrich Money.

Gold, Silver Rates Today LIVE: Silver prcie has surged to fresh all-time highs near $98.92 and is now consolidating around $98.30–$98.70 after mild profit booking. The breakout above the crucial $99–$100 psychological band stands structurally confirmed, with prices well above all key moving averages and inside a steep rising channel. Industrial demand from solar, EVs, AI infrastructure, and electronics remains exceptionally strong, further amplified by safe-haven and inflation-hedge flows, said Ponmudi R, CEO of Enrich Money.

Near-term support lies at $95–$96.50, followed by a stronger base near $92–$93. A decisive breakout beyond $99–$100 can quickly propel prices toward $102–$104 and beyond. The medium-to-long-term outlook for 2026 remains exceptionally bullish, with potential to test $110–$120 amid supply tightness and accelerating industrial consumption, he added.

Gold, Silver Rates Today LIVE: Gold continues to trade near historic highs, holding firm around the $4,951 zone after marking a fresh record at $4,967. The trend structure remains decisively bullish, with prices comfortably sustaining above the rising channel and the 20-day EMA, reflecting strong underlying momentum. The earlier resistance band of $4,900 – $4,940 has now clearly turned into a powerful support zone, reinforcing the strength of the ongoing uptrend. A sustained move above the psychological $5,000 mark can trigger the next impulsive rally toward $5,100–$5,150 in the near term, said Ponmudi R, CEO of Enrich Money.

According to him, any intraday or minor pullbacks continue to invite aggressive buying interest. The broader outlook remains firmly bullish, supported by safe-haven demand, steady central-bank accumulation, geopolitical uncertainty, and expectations of accommodative global liquidity.

Gold, Silver Rates Today LIVE: Ajay Kedia believes the trend for MCX silver price today remains positive. MCX silver rate today may face resistance at ₹3,40,000 level, while support is seen at ₹3,14,000 level.

Gold, Silver Rates Today LIVE: The view on MCX gold price today remains positive, said Ajay Kedia, Director, Kedia Advisory. According to him, MCX gold rate today may face resistance at ₹1,64,760 level, while support is placed at ₹1,53,450 level.

Gold, Silver Rates Today LIVE: MCX silver price opened higher at ₹3,33,333 per kg as against its previous close of ₹3,27,289 level. MCX silver rate hit a record high of ₹3,39,927 level. The white metal prices were trading at ₹3,36,650 per kg, up by ₹9,361, or 2.86%.

Gold, Silver Rates Today LIVE: MCX gold prices opened higher at ₹1,58,889 per 10 grams as against its previous close of ₹1,56,341 level. MCX gold rate hit a record high of ₹1,59,226 level. The prices were trading higher by ₹2,079, or 1.33%, at ₹1,58,420 per 10 grams.

Gold, Silver Rates Today LIVE: Gold prices rose to an all-time high near $5,000 an ounce, and silver rose toward $100 an ounce. Bullion climbed above $4,967 and is on track for a weekly gain of nearly 8%, supported by a weaker dollar. Gold price rose 0.4% to $4,956.08 an ounce and silver price jumped 2.5% to $98.60.

Gold, Silver Rates Today LIVE: Markets still anticipate the US Federal Reserve to deliver two quarter-percentage point rate cuts in the latter half of the year, raising non-yielding gold’s appeal

Gold, Silver Rates Today LIVE: The US dollar was poised for its biggest weekly drop in a year. The dollar index, which measures the US currency against six units, was at 98.329 after dropping 0.58% in the previous session, on course for a 1% slide, its worst performance in a week since January 2025. The euro was steady at $1.1751, while sterling fetched $1.3496. Yen wobbled at 158.50 per US dollar.

Gold, Silver Rates Today LIVE: Gold prices touched another record high, while silver and platinum also extended gains to hit all-time peaks, powered by geopolitical and economic uncertainties, a weaker dollar and bets for US Federal Reserve interest rate cuts.

Spot gold price rose 0.5% to $4,961.57 per ounce, after scaling a record $4,966.59 earlier in the day. US gold futures for February delivery rallied 1.1% to $4,964.60 per ounce. Spot silver price rose 0.9% to $97.01 an ounce, after hitting a record high of $97.44 earlier.

Gold, Silver Rates Today LIVE: In the domestic market, MCX gold prices also scaled peaks on Thursday. MCX gold price jumped nearly 4% to close at ₹1,56,540 per 10 grams level. It touched a fresh record high of ₹1,57,086 level. MCX silver price gained 0.87% to ₹3,26,500 per kg. MCX silver price touched a fresh life-time high of ₹3,35,521 level on Wednesday.

Gold, Silver Rates Today LIVE: Renewed criticism of the Federal Reserve by US President Donald Trump, along with escalating geopolitical risks in Venezuela, Iran and Greenland, has added momentum to the so-called “debasement trade.” This trend reflects a shift by investors away from sovereign bonds and currencies toward alternative safe-haven assets such as gold.

Gold, Silver Rates Today LIVE: Gold and silver prices in the international market touched record highs on Friday, supported by a weak US dollar, geopolitical tensions and threats to the Federal Reserve’s independence. Gold price rose to an all-time above $4,960 in early trading and is on track for a weekly gain of more than 7%, while silver also hit a record high near $97 an ounce. Gold rate rose 0.5% to $4,959.39 an ounce and silver price jumped 0.7% to $96.91, also setting a record high.

Gold, Silver Rates Today LIVE: Gold prices rose to an all-time high, supported by a weaker dollar. Gold price advanced 0.4% to $4,955.14 an ounce, and is on course for a weekly gain of nearly 8%. Silver price jumped 0.6% to $96.80, also setting a record high.

Gold, Silver Rates Today LIVE: Multi-Commodity Exchange (MCX) data showed that gold prices were trading 1.18% or ₹1,797 per 10 grams higher at ₹154,659 per 10 grams as of 11:05 pm (IST), compared to ₹152,862 per 10 grams at the previous commodity market close.

Silver rates were also trading 2.75% or ₹8,752/kg higher at ₹327,244/kg as of 11:05 p.m. (IST), compared to ₹318,492/kg at the previous market close, according to the MCX data.

Gold, Silver Rates Today LIVE: Aamir Makda, Commodity & Currency Analyst at Choice Broking, said that MCX silver prices reversed sharply after hitting the intraday low. The expert recommended that this is not the right time to buy the precious white metal, as this fall may continue.

“MCX Silver March contract has reversed sharply, made a low of 305,753 in today’s session. This correction may continue as price is still far from its immediate crucial support of 20-DEMA level placed at 272,150. Also, Daily SAR is currently placed at 274,300. In previous bull run, we have observed a decline in OI levels which signifies a Long unwinding by traders in Silver,” said the market expert.

Aamir Makda also said that if the silver prices stabilise over its key support levels, then the traders can consider buying the precious metal in the dips.

“We have observed a RSI divergence in Daily chart, which is a classic ‘Red flag’ for building any fresh buying. In our view, this is not a right time to buy Silver at this moment as this fall may continue. If price stables over support levels, then traders may consider it as a ‘Buy-on-dips’,” said Makda.

Gold, Silver Rates Today LIVE: Multi-Commodity Exchange (MCX) data showed that gold prices were trading 0.96% or ₹1,463 per 10 grams higher at ₹154,325 per 10 grams as of 9:24 pm (IST), compared to ₹152,862 per 10 grams at the previous commodity market close.

Silver rates were also trading 1.16% or ₹3,688/kg higher at ₹322,180/kg as of 9:26 p.m. (IST), compared to ₹318,492/kg at the previous market close, according to the MCX data.

Gold, Silver Rates Today LIVE: Aamir Makda, Commodity & Currency Analyst at Choice Broking, explained that profit booking has played its role in the recent decline of precious metal silver.

“Profit booking has played its role in recent decline. Looking at OI levels, we can observe a OI decline to 9650 lots so far. Previously, we have observed a continues Long unwinding in bull run since the beginning of the December,2025. The decline in OI levels signifies there is no interest coming up for Long position with perspective to expiry from traders,” said the commodity market expert.

The gems & jewellery sector is crucial to India’s export ecosystem and global competitiveness, and it seeks a prudent mix of tax rationalisation, adjustments to the duty structure, and greater operational flexibility to navigate current headwinds and sustain growth. There’s a need to boost exports and attract FDI by creating a more predictable, low-tax regime for rough diamond miners selling in India. Furthermore, a stable, transparent tax environment for rough diamonds can significantly enhance supply chain efficiency and support downstream value addition.

— Colin Shah, MD, Kama Jewelry