Gold prices continued their remarkable rally on Monday, 26 January 2026, reaching record highs driven by heightened safe-haven demand amid escalating geopolitical tensions and global economic uncertainties. Internationally, gold surged past $5,000 per ounce, while silver prices climbed above the $100 mark for the first time in recent history.
International Bullion Market Highlights
- Gold: Spot gold increased by 0.85%, trading at $5,024.95 per ounce. US gold futures for February delivery gained 0.91%, settling at $5,024.60 per ounce.
- Silver: Spot silver rose by 1.72%, reaching $104.72 per ounce.
Price Trends and Yearly Performance
Gold has soared by an impressive 64% in 2025, bolstered by persistent safe-haven demand, easing US monetary policies, strong central bank purchases, and record inflows into gold ETFs. This year alone, gold has gained over 16%. Silver, building on its 147% rise last year, continues to benefit from retail investor flows and momentum-driven buying, amid ongoing tightness in physical markets.
Geopolitical Factors Supporting Gold
Escalating tensions between the United States and NATO over Greenland have added further strength to gold prices, as investors anticipate increased geopolitical and financial instability. Additionally, China extended its gold-buying spree into December for the fourteenth consecutive month, according to Reuters.
MCX Gold and Silver Prices
- Gold: On Friday, MCX gold closed lower by ₹378 (0.24%) at ₹1,55,963 per 10 grams.
- Silver: MCX silver rose by ₹7,311 (2.23%) to close at ₹3,34,600 per kg.
Trading Update
Trading in MCX commodities, including gold and silver futures, is currently on hold due to Republic Day 2026 holidays. Markets will resume trading on Tuesday, 27 January 2026.