Gold and Silver Prices Surge to Record Highs
On Tuesday, January 27, 2026, gold and silver prices experienced a significant surge, reaching new record highs in both domestic and international markets. This rally is attributed to geopolitical tensions, a weak US dollar, and expectations of potential rate cuts by the US Federal Reserve, prompting investors to seek safe-haven assets.
MCX Market Performance
On the Multi Commodity Exchange (MCX), gold and silver prices jumped considerably.
- MCX gold February futures increased by nearly ₹4,000, or more than 2.4%, reaching ₹1,59,820 per 10 grams. The yellow metal price touched a high of ₹1,59,820 level.
- MCX silver March futures surged by more than ₹25,000, or 7.5%, to a record high of ₹3,59,800 per kg. MCX silver rate hit a life-time high of ₹3,64,820 level.
International Market Trends
The upward trend was mirrored in the international markets.
- Spot gold rose 1.1% to $5,068.05 per ounce, after scaling a record $5,110.50 the previous day. Spot gold was at $5,068.05 per ounce, up 1.1% from Monday's all-time high of $5,110.50. US gold futures for February delivery added 0.4% to $5,063.0 per ounce.
- Spot silver jumped 6.3% to $110.39 an ounce, after hitting a record high of $117.69 on Monday. Spot silver climbed 6.3% to $110.39 per ounce, after touching a record $117.69, posting a 55% gain so far in 2026.
Factors Influencing Price Surge
Several factors contributed to the surge in gold and silver prices:
- Geopolitical Tensions: Ongoing geopolitical risks drove investors to safe-haven assets.
- US Dollar Weakness: The US dollar languished near a four-month low, making gold less expensive for overseas buyers. The US Dollar Index fell to 96.92, a four-month low.
- Tariff Announcements: US President Donald Trump's plan for a 25% tariff on South Korean automobiles, lumber, and pharmaceuticals contributed to market volatility.
Market Expert Views
Manoj Kumar Jain of Prithvifinmart Commodity Research noted that precious metal prices have been supported by robust safe haven demand driven by global uncertainty.
Conclusion
On January 27, 2026, gold and silver prices reached record highs due to geopolitical tensions, a weak US dollar, and expectations of Federal Reserve rate cuts. The MCX saw gold February futures reach ₹1,59,820 per 10 grams, and silver March futures hit ₹3,59,800 per kg. International markets also saw significant gains, with spot gold at $5,068.05 per ounce and spot silver at $110.39 per ounce.
