NEW DELHI, Jan 14, 2026, 13:20 IST
- MCX gold traded around ₹1,43,000 per 10 grams; MCX silver jumped to about ₹2,87,000 per kg
- Spot gold hit a record above $4,639/oz; silver broke $90 after soft U.S. inflation data lifted Fed cut bets
- Analysts see the trend intact but warn sharp swings around U.S. data and policy headlines
Gold price today in India held near record territory on Wednesday, with MCX gold up about 0.5% at 143,000 rupees per 10 grams by 10 a.m. IST after touching a fresh peak of 143,096. MCX silver climbed 4.4% to 287,199 rupees a kg and also hit a record intraday.
The surge has been driven from the top down by global markets. Spot gold rose 1% to $4,633.40 an ounce and hit a record $4,639.42, while silver jumped to $90.59 after breaching $90 for the first time; silver is up nearly 27% so far this year. “Inflation remained relatively contained at 2.6% year-on-year,” said Tim Waterer, chief market analyst at KCM Trade, as traders looked to U.S. producer price index (PPI) data after softer consumer price index (CPI) readings; investors expect two 25-basis-point rate cuts this year (a basis point is 0.01 percentage point), with June seen as the earliest. Platinum and palladium also rose. Reuters
Why this matters in India is straightforward: this is a market where gold is bought for jewellery and as savings, so price spikes show up fast at the counter and in buying decisions. The World Gold Council calls India one of the world’s largest gold markets, with bullion woven into household balance sheets as much as celebrations.
Ponmudi R, CEO of Enrich Money, said MCX gold still sits inside an uptrend despite the sharp run. “A breakout above Rs 1,43,000 could push prices toward Rs 1,45,000–Rs 1,48,000,” he said, while arguing for staggered buying on pullbacks rather than chasing highs. He also flagged silver’s outperformance, pointing to industrial demand from solar and electric vehicles, along with tighter supply, as support for higher levels. India Today
Maneesh Sharma, AVP for commodities and currencies at Anand Rathi Shares and Stock Brokers, said gold and silver could stay on a “positive bias” as geopolitical tension and fresh questions over U.S. policy keep safe-haven demand in play. In a weekly outlook, he put gold at $4,579 an ounce and said silver could reach $90–$95 in 1–2 weeks, with MCX silver futures seen rising toward 295,000–300,000 rupees a kg. The Times of India
The run has been steep even by bullion standards. Gold is up more than 6% in the first 13 days of 2026 after jumping 64% in 2025, and some large banks have started to frame $5,000 an ounce as a 2026 target zone. “Real assets come to the fore,” said independent precious metals analyst Ross Norman, pointing to strong investment appetite and steady central bank buying, including continued purchases by China’s central bank. Reuters
In the physical market, city quotes moved with futures. Angel One data showed 24-carat gold at 143,100 rupees per 10 grams in New Delhi and 143,350 in Mumbai, while silver was quoted at 285,870 rupees per kg in the capital.
But the rally has left the market twitchy. Reliance Securities analyst Jigar Trivedi flagged support for MCX gold near 141,500 rupees and said “resistance is placed at ₹1,44,000,” levels that could be tested quickly if U.S. data runs hot or policymakers try to cool rate-cut expectations; he also put MCX silver support around 282,000 rupees per kg with resistance near 288,000. mint
