On Friday, gold and silver prices witnessed a strong upward trend once again. Gold is approaching its all-time high, while silver saw a significant surge.
Gold and Silver Rally Continues
New Delhi: The momentum in precious metals continued on Friday as both gold and silver recorded impressive gains. Gold edged closer to its all-time high, while silver crossed ₹2.42 lakh per kilogram once again. According to the India Bullion & Jewellers Association (IBJA), the price of 24-carat gold rose by ₹1,349 to ₹1,37,122 per 10 grams from Thursday’s ₹1,35,773. The previous all-time high in the spot market for gold was ₹1,37,956 per 10 grams, recorded on December 26, 2025.
Similarly, 22-carat gold rose to ₹1,25,604 per 10 grams from ₹1,24,368, while 18-carat gold moved up from ₹1,01,830 to ₹1,02,842 per 10 grams. Silver also gained sharply, with its price rising ₹6,982 to ₹2,42,808 per kilogram from ₹2,35,826 per kilogram.
MCX Sees Strong Gains
On the Multi Commodity Exchange (MCX), gold and silver also witnessed strong gains. As of Friday night at 10 PM, the February 5, 2026 gold contract was trading at ₹1,39,199 per 10 grams, up ₹1,457. Meanwhile, the March 5, 2026 silver contract surged ₹11,676 to reach ₹2,55,000, once again crossing the ₹2.5 lakh mark.
Global Markets Show Upward Trend
Internationally, gold and silver prices also saw a sharp rise. Gold climbed 0.80% to $4,495 per ounce, while silver surged 4.05% to $78.313 per ounce.
Reasons Behind the Rally
Jatin Trivedi of LKP Securities noted that gold prices gained after a temporary weakness earlier in the week. On COMEX, gold has support at $4,450 per ounce and resistance at $4,475 per ounce. He further added that in the coming days, gold is expected to trade in the ₹1,36,500–₹1,39,000 range, with global economic indicators likely to influence its direction.
Discover more from SD NEWS agency
Subscribe to get the latest posts sent to your email.