Overview
- Spot and futures benchmarks hit new highs, with COMEX gold peaking near $4,612.7 an ounce and silver touching about $83.9.
- On India’s MCX, February gold futures reached Rs 1,41,250 per 10 grams and March silver hit Rs 2,63,996 per kg, both lifetime highs.
- Traders cited the Fed’s receipt of DOJ subpoenas, escalating unrest in Iran and softer US jobs data as key drivers of the rush into bullion.
- Retail prices climbed across Indian cities and Dubai, where 24K gold opened at a record Dh550.25 per gram, reflecting broad consumer‑market strength.
- Silver continued to outperform on higher volatility and industrial demand, while Motilal Oswal projected MCX silver could target Rs 3.20 lakh per kg in 2026 as tight inventories and ETF flows support prices.