Precious Metals Open 2026 on a Strong Note
Gold and silver futures traded higher on Friday, supported by firm global cues and renewed safe-haven buying as investors positioned themselves for the possibility of lower US interest rates in the coming period.Gold Futures Gain on MCX
On the Multi Commodity Exchange, gold futures for February delivery advanced by Rs 948, or 0.7 percent, to Rs 1,36,752 per 10 grams. Trading activity remained healthy, with a business turnover of 15,639 lots during the session.The yellow metal had previously settled at Rs 1,35,804 per 10 grams on Thursday, registering a gain of Rs 357, or 0.3 percent, from Wednesday’s close of Rs 1,35,447 per 10 grams.
The commodities exchange operated only during the day session on Thursday and remained closed for evening trade due to the New Year holiday.
Silver Futures Surge Over 3 Percent
Silver futures also recorded sharp gains on the domestic bourse. The March contract jumped by Rs 7,107, or 3.01 percent, to Rs 2,42,980 per kilogram, with 13,397 lots traded.The white metal had ended Thursday’s session at Rs 2,35,873 per kg, marginally higher than Wednesday’s close of Rs 2,35,701 per kg.
International Markets Provide Strong Support
In overseas trade, gold futures on the COMEX opened the first trading day of the year on a firm footing. February gold futures rose by USD 46.10, or 1.06 percent, to USD 4,387.20 per ounce.This followed a weaker close on Wednesday, the final session of 2025, when gold had settled 1 percent lower at USD 4,341.10 per ounce.
Silver Recovers Sharply in Global Trade
Comex silver futures for the March contract also moved higher, gaining USD 2.4, or 3.4 percent, to trade near USD 73 per ounce. The recovery comes after a sharp fall of USD 7.32, or 9.39 percent, seen in the previous session when prices settled at USD 70.6 per ounce.Global Factors Driving Safe-Haven Buying
Internationally, precious metals benefited from expectations of softer US borrowing costs, geopolitical tensions, and supply-side constraints. Gold continued to build on its strong momentum from 2025, while silver drew support from tight inventories, industrial demand, and developments affecting global supply chains.Together, these factors helped gold and silver begin 2026 on a positive note, reinforcing their appeal as safe-haven assets amid ongoing global uncertainty.
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