Gold, Silver Sustain Strong Rally In 2026 On Renewed Safe-Haven And Industrial Demand

New Delhi, Jan 10: Gold and silver continued their structural bull run into the start of 2026 on the back of enhanced safe haven demand and industrial demand, analysts said on Saturday.

Gold prices post weekly gains

Gold futures with February expiry gained significantly during the week, touching Rs 1,38,875 per 10 grams, up from Rs 1,35,752 at last week’s close. The price of 10 grams of 24-carat gold closed the week at Rs 1,37,122, up from Rs 1,34,782 in the prior week, according to data published by the India Bullion and Jewellers Association (IBJA).

Silver sees decisive breakout

MCX silver contracts for March expiry showed a significant surge during the week, rising to Rs 2,52,002 per kg, confirming a decisive breakout from its recent consolidation range and re-entering a strong bullish channel.

Global markets remain firm

“COMEX gold remained firm near $4,500 per ounce, gaining over 1 per cent and consolidating just below record highs after its strong multi-week rally,” said Ponmudi R, CEO of Enrich Money.

Meanwhile, COMEX silver futures jumped over 6 per cent to around $79.79 per ounce, rebounding from $75 as industrial demand revived alongside renewed safe-haven buying, he added.

Investor sentiment remains constructive

Investor sentiment in silver remains firmly constructive, supported by persistent supply deficits, record central bank buying, as well as rising green-energy demand linked to solar, EVs and AI infrastructure.

Outlook and near-term risks

Looking ahead, near-term volatility cannot be ruled out, driven by profit-taking, dollar movements and high-frequency macro data from the US and other major economies, analysts said.

Recent pullbacks in precious metals were largely seen as healthy profit-taking rather than signs of trend fatigue, and the speed of subsequent rebounds has reinforced confidence in the longer-term uptrend.

Strong performance in 2025

Gold surged nearly 66 per cent in CY25, surpassing $4,500 per ounce, while silver outperformed with a 171 per cent rise.

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Analysts said that the ongoing surge in gold and silver is being driven by structural demand rather than short-term speculative activity. Sustained central-bank gold purchases, elevated geopolitical uncertainty, and expectations of global monetary easing continue to reinforce gold’s role as a core portfolio hedge.

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