New Delhi: Following a historic rally in 2025—when gold surged 62% and silver skyrocketed 144%—the first trading day of 2026 has opened with a mixed trend in precious metals. While gold traded nearly flat, silver plunged by over ₹1,800, signaling caution for investors.
MCX Trading Update:
- Gold (Feb 5 delivery): Closed the previous session at ₹1,35,447 per 10 grams. It opened at ₹1,35,299 and fluctuated between ₹1,35,080 and ₹1,35,559 in early trade. By 12:50 PM, gold traded at ₹1,35,440, down ₹7 from the previous close.
- Silver (Mar 5 delivery): Closed the previous session at ₹2,35,701 per kilogram and opened flat at the same level. Early trading saw silver slide to ₹2,33,850, recovering slightly to ₹2,34,950 by 12:50 PM, down ₹751 (0.32%) from the previous close.
Sarrafa Market Trends:
In the national capital’s Sarrafa market, prices of both metals fell due to weak global cues and a stronger US dollar. The All India Sarrafa Association reported that 99.9% purity gold dropped by ₹1,300 to ₹1,37,700 per 10 grams, marking the third consecutive day of decline. Silver, which had seen a six-day record rally, fell by ₹2,000 to trade at ₹2,39,000 per kilogram.
Investor Takeaway:
After last year’s record highs, analysts advise investors to exercise caution, as market corrections are likely in the early weeks of 2026.
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