Gold, Silver Price Today (Jan 01): MCX Gold Slips, Silver Gains in New Year’s First Trade

The new year opened with gold prices in India dipping slightly in Thursday's morning session. On the Multi Commodity Exchange (MCX), February gold futures edged down by 0.13% to approximately ₹1,35,267 per 10 grams. Analysts attributed this minor pullback to traders securing profits and a momentary strengthening of the US dollar.

However, this dip was shallow, cushioned by a widespread market belief that the US Federal Reserve will continue to cut interest rates this year-a scenario that typically boosts the appeal of non-yielding assets like gold.

Silver Shines on Steady Demand

In contrast, silver started 2026 in positive territory, with March futures gaining 0.06% to about ₹2,35,842 per kg. The white metal was supported by robust physical demand in the spot market.

A Look Back at a Record-Shattering Year

The modest moves of the new year's first day follow an absolutely explosive 2025 for precious metals. Last year's performance was nothing short of extraordinary:

Gold: Domestic prices skyrocketed by 75%, adding over ₹56,000 per 10 grams. Globally, gold posted its biggest annual gain since 1979, soaring 66%.

Silver: It far outpaced gold, exploding by a staggering 167%, or over ₹1.43 lakh per kilogram.

What Fueled the Frenzy?

The unprecedented surge was driven by a powerful combination of factors:

Anticipated Fed Rate Cuts: Expectations of easier monetary policy.

Strategic Buying: Sustained acquisitions by central banks worldwide.

Investor Influx: Strong investments into gold-backed ETFs.

Global Tensions: Heightened geopolitical uncertainty driving safe-haven demand.

Silver's Industrial Boom: Exceptional demand from green technology sectors like EVs, solar panels, and data centers, compounded by tight supply.

Remarkable Resilience

Market experts highlighted the consistency of the bull run. "Gold demonstrated exceptional resilience in 2025," noted Sugandha Sachdeva of SS WealthStreet, pointing out that prices fell more than 3% on only two occasions all year and closed higher in 11 out of 12 months.

Current Retail Prices

Reflecting the overall bullish trend, retail gold prices across major Indian cities also moved higher. On Thursday, the price for 24-carat gold rose to approximately ₹13,506 per gram (or ₹1,35,060 for 10 grams), marking a daily increase. Similarly, 22-carat gold reached around ₹12,380 per gram.