The Indian commodity market witnessed a strong trading day on Wednesday, January 21st. Gold prices reached an all-time high. Silver prices also saw a significant jump...
Gold and Silver Price: The Indian commodity market witnessed a strong trading day on Wednesday, January 21st. Gold prices reached an all-time high, while silver prices also saw a sharp rise. The potential for a US-Europe trade war, a weak dollar, and strong retail demand are being cited as the main reasons behind this surge.
Gold futures for February 5th on the Multi-Commodity Exchange (MCX) have reached ₹158,250 per gram. Let's explore the latest gold and silver prices and the reasons behind the rise in these precious metals...
Global market panic
Escalating tensions between the US and Europe have once again become a cause for concern for investors. There are fears of a trade war between the two sides. According to media reports, the European Parliament may consider halting the process of ratifying the US trade agreement reached in July. Meanwhile, US President Donald Trump has refused to back down from his aggressive policy on Greenland, further fueling uncertainty.
US President Trump announced a 10% tariff on eight European countries starting February 1. Amid these uncertain global conditions, investors are turning to gold and silver as safe investments.
Latest Gold-Silver Price on MCX
On the Multi Commodity Exchange (MCX), gold futures with a February 5, 2026, expiry were trading at ₹1,57,750 per 10 grams at around 10:30 a.m. on Wednesday. On its last trading day, gold had closed at ₹1,50,565 on MCX.
On MCX, gold with a February 5th expiry was trading higher by approximately ₹7,185 from the previous day's closing price. MCX gold reached a high of ₹1,58,339 in early trading.
Silver with March 5, 2026, expiry was trading at ₹332,142 per kg on MCX, representing a gain of approximately ₹8,850 from the previous close. MCX silver had reached a high of ₹334,027 in early trade.
Investors are getting attracted to safe investment options
Growing global uncertainty and the potential for a trade war have shaken investor confidence in riskier assets. Consequently, they are now shifting to safer investment options like gold and silver as safe havens.
