Gold and silver prices continued their upward momentum for the fourth straight session on Tuesday, January 6, with both precious metals inching closer to their record highs last seen in the final week of 2025. While the pace of gains was slower compared to the previous session, the overall trend remained firm.
Gold futures for February delivery on the MCX rose 0.50%, or ₹656, to hit an intraday high of ₹1,38,776 per 10 grams, moving closer to the psychological ₹1.4 lakh mark. The yellow metal had surged sharply in the previous session, and the ongoing four-day rally has pushed cumulative gains to around 2.3%.
Silver prices also extended their strong run. After a sharp jump in the previous session, MCX silver climbed another ₹6,025 to touch an intraday high of ₹2,52,180 per kilogram. This brings silver closer to its all-time high of ₹2,54,174, with prices gaining nearly 7% over the past four sessions.
In the broader precious metals space, platinum and palladium also traded higher, supported by tight supply conditions and strong industrial demand, particularly from the automotive sector.
Why prices are rising:
The rally in gold and silver has been supported by heightened geopolitical tensions, which have boosted demand for safe-haven assets. In addition, expectations of continued accommodative monetary policy by the US Federal Reserve have strengthened after recent economic data, keeping interest-rate-cut hopes alive.
Market participants are currently factoring in multiple US rate cuts in 2026, a scenario that typically supports non-yielding assets such as gold and silver in a low interest rate environment.
