Key Points
- 24‑karat gold in India reached ₹1,40,450 per 10 grams on January 12, 2026, while 22‑karat gold traded at ₹1,28,740 and 18‑karat at ₹1,05,330.
- Silver prices jumped 3.71% to ₹2,59,900 per kg, after closing at ₹2,52,002 per kg last Friday on MCX.
- International spot gold hit $4,589.00 per ounce and spot silver $83.325 per ounce on COMEX, nearing all‑time highs.
- Geopolitical tensions globally are driving investors toward gold and silver as safe‑haven assets, boosting demand and prices.
- Motilal Oswal forecasts silver could reach ₹3.20 lakh per kg by 2026, about 27% higher than current levels, citing supply shortage and rising industrial demand.
- Silver delivered exceptional returns of up to 170% in 2025, rallying from ₹90,000 to ₹2.50 lakh per kg.
Gold and silver prices witnessed a sharp surge on Monday, January 12, 2026, the first trading day of the week, building on last week’s gains and setting the stage for further increases amid global market uncertainties. On the Multi Commodity Exchange of India (MCX), gold closed at ₹1,38,875 per ten grams last Friday, while silver was priced at ₹2,52,002 per kilogram. Today, both metals are on the verge of reaching new all‑time highs, reflecting strong investor appetite for safe‑haven assets.
International Markets Shine
In the international market, gold and silver attracted investors by nearing their all‑time high levels. On Monday, spot gold reached $4,589.00 per ounce and spot silver reached $83.325 per ounce on COMEX. Due to increasing geopolitical tensions globally, investors are now viewing gold and silver as safe‑haven investments, leading to increased demand and prices for these metals. The bullish sentiment is supported by central bank purchases, currency fluctuations, and macroeconomic uncertainties that favor precious metals.
Latest Gold and Silver Prices in India Today
In India, the price of 24‑karat gold has reached ₹1,40,450 per ten grams today. The rate for 22‑karat gold is ₹1,28,740 per ten grams, and the rate for 18‑karat gold is ₹1,05,330 per ten grams. Silver prices have also seen a significant jump. Today, the price of one kilogram of silver has reached ₹2,59,900. A massive increase of 3.71 percent has been observed in silver prices, bringing the price to ₹2,52,362 per kilogram on MCX futures.
City‑Wise Gold Rates
Gold prices vary slightly across major Indian cities due to local taxes and transportation costs. In Delhi, the price of 24‑karat gold is ₹1,40,600 per 10 grams, while the price of 22‑karat gold is ₹1,28,890 per 10 grams. In Mumbai, the price of 24‑karat gold is ₹1,40,450 per 10 grams, the price of 22‑karat gold is ₹1,28,740 per 10 grams, and the price of 18‑karat gold is ₹1,05,330 per 10 grams. In Kolkata, the price of 24‑karat gold has also reached ₹1,40,450 per ten grams. In Hyderabad, the price of 24‑karat gold is ₹1,40,450 per 10 grams, and in Ahmedabad, it is ₹1,40,500 per 10 grams.
Silver to Cross ₹3.20 Lakh, Say Experts
The increase in silver prices is due to a shortage in supply and an increase in demand. The silver market is currently experiencing a significant boom, and its prices are rising to record levels. A recent report by experts on rising silver prices has attracted widespread attention. The report estimates that the price of silver could reach ₹3.20 lakh per kilogram by 2026, which would be approximately 27 percent higher than current prices.
Motilal Oswal, a leading domestic brokerage, has set a 2026 target of ₹3,20,000 for MCX silver, while placing the risk‑negation level at ₹1,40,000. The firm believes silver may be entering the early stages of a multi‑year commodity supercycle, driven by structural changes in demand and supply dynamics. The brokerage expects silver’s strength to remain front‑loaded into the first half of 2026, citing continued policy and currency uncertainty, though volatility may increase in the second half due to evolving macro conditions and profit booking after the sharp 2025 rally.
Silver’s Stellar Performance in 2025
In 2025, silver delivered exceptional returns to investors, with returns of up to 170 percent. This is a remarkable achievement in terms of investment and has raised high expectations among future investors regarding silver. The metal rallied from approximately ₹90,000 per kg to ₹2.50 lakh per kg during the year, outperforming most asset classes and attracting both retail and institutional interest. The surge was fueled by industrial demand from the solar and electronics sectors, supply constraints from mining disruptions, and renewed investor appetite for precious metals as inflation hedges.
Outlook for the Week
Given the prevailing conditions in the global market, further increases in gold and silver prices are expected this week. Traders are monitoring U.S. inflation data, Federal Reserve policy signals, and geopolitical developments in the Middle East and Eastern Europe, all of which could trigger additional safe‑haven flows into bullion. Domestic demand in India, driven by wedding season purchases and festival‑related buying, is also supporting prices at these elevated levels.
Analysts advise investors to adopt a “buy on dips” strategy, given the strong underlying fundamentals for both metals. While short‑term corrections cannot be ruled out after such a sharp rally, the medium‑term trend remains bullish, with silver likely to outperform gold due to its dual role as a precious and industrial metal. Risk management through stop‑loss levels and portfolio diversification is recommended for those entering fresh positions at current highs.
