Silver jumps sharply on MCX, gold also rises as geopolitical tensions intensify

Gold and silver prices saw a strong rise in the futures market on Monday, January 5, 2026. The sharp jump came after rising global tensions, which increased demand for safe investment options like precious metals. Investors across the world turned to gold and silver as uncertainty grew in international politics, pushing prices higher both in India and overseas.

In India, prices on the Multi Commodity Exchange (MCX) moved up sharply. Gold gained strongly in early trade and continued to rise through the session. Silver saw an even bigger jump, recording a steep increase within a short period of time. Market experts said the rise was mainly driven by global events, which made investors cautious and increased buying of gold and silver.

The impact of global developments was also seen in international markets, where gold prices climbed sharply on the COMEX exchange. The rise in global gold prices supported the upward movement in Indian markets as well.

Gold and silver surge on MCX

On the MCX, the February 5 gold contract opened higher at Rs 1,36,300 per 10 grams, compared to its previous closing price of Rs 1,35,761. Soon after opening, gold prices moved further up and touched a high of Rs 1,38,200 per 10 grams. At the time of the last update, gold futures were trading at around Rs 1,37,682 per 10 grams, showing a gain of Rs 1,921 or more than 1.4 per cent.

Another gold contract for April 2026 also recorded strong gains. This contract was trading at Rs 1,41,270 per 10 grams, rising by nearly Rs 1,748. Trading activity remained active, showing strong interest from investors and traders.

Silver prices showed an even sharper movement. The silver futures contract, which will mature on March 5, opened at Rs 2,44,000 per kg on MCX. This was a jump of over Rs 7,000 compared to the previous closing price of Rs 2,36,316.

As the session progressed, silver prices continued to climb and reached a high of Rs 2,49,900 per kg. This marked a massive rise of Rs 13,584 or around 5.7 per cent. Later, prices settled slightly lower but still remained significantly higher at around Rs 2,43,053 per kg, up by nearly Rs 6,737.

Market analysts said silver often reacts sharply during periods of global uncertainty because it is both a precious metal and an industrial metal. Increased buying interest pushed silver prices higher within a short time.

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International prices and city-wise rates

In the international market, gold prices also saw a strong rise. On the COMEX exchange, gold was trading at around USD 4,428.9 per troy ounce, showing a gain of more than 2.2 per cent. Spot gold prices were also higher, trading near USD 4,422.77 per ounce, up by over USD 90. This strong international performance helped support higher prices in Indian markets.

In India’s physical market, gold prices varied slightly from city to city. In Delhi, the price of 24-carat gold was quoted at Rs 1,37,550 per 10 grams. For 22-carat gold, buyers had to pay around Rs 1,26,100 per 10 grams.

In Mumbai, 24-carat gold was available at Rs 1,37,400 per 10 grams, while 22-carat gold was priced at Rs 1,25,950 per 10 grams. Prices in Kolkata were similar, with 24-carat gold selling at Rs 1,37,400 per 10 grams and 22-carat gold at Rs 1,25,950 per 10 grams.

In Chennai, gold prices were slightly higher. The rate for 24-carat gold stood at Rs 1,38,330 per 10 grams, while 22-carat gold was priced at Rs 1,26,800 per 10 grams.

Silver prices in the physical market also remained high across major cities. In Delhi, silver was priced at Rs 2,47,000 per kg. The same rate was seen in Mumbai and Kolkata, where consumers had to pay Rs 2,47,000 per kg to buy silver.

In Chennai, silver prices were higher compared to other cities. The metal was selling at Rs 2,65,000 per kg, reflecting strong local demand.

Experts say that precious metal prices may continue to remain volatile in the coming days. Any new developments in global politics or economic conditions could further influence prices. Investors are advised to keep an eye on international markets and currency movements, as these play a key role in determining gold and silver prices.

In summary, gold and silver saw a strong rally on January 5, 2026, supported by rising global uncertainty and increased demand for safe assets. Both futures and physical market prices moved higher, with silver recording particularly sharp gains.