Gold and silver prices moved higher on the Multi-Commodity Exchange of India (MCX) on Monday, following gains in international bullion markets amid a weak US dollar. Silver led the rally, pushing the gold–silver ratio down to nearly 62, reflecting stronger momentum in the white metal.
MCX gold for April futures opened 0.35% higher at ₹156,000 per 10 grams, compared with the previous close of ₹155,451. Silver for March futures opened sharply higher by ₹9,995, or 4%, at ₹2,59,887 per kilogram, against its last close of ₹2,49,892.
Weak Dollar Lifts Global Bullion Prices
International bullion markets also extended gains as the US dollar slipped to its lowest level since February 4, making dollar-priced metals cheaper for overseas buyers. Spot gold rose 1.4% to $5,029.09 per ounce after a near 4% surge in the previous session, while US gold futures for April delivery gained 1.4% to $5,051.0 per ounce.
Spot silver climbed 2.86% to $80.25 per ounce, following a strong 10% jump in the prior session. Investors are closely watching the upcoming US labor market report for signals on the interest rate outlook, which continues to influence bullion demand.
Gold prices also found support from the landslide election victory of Japanese Prime Minister Sanae Takaichi. The result strengthened expectations of looser fiscal policy and continued pressure on the yen, a combination that typically supports gold.
Gold–Silver Ratio Falls as Silver Outperforms
The gold–silver ratio dropped to 61.87 during the session as silver’s 4% surge outpaced the modest rise in gold. Market analysts note that silver tends to behave more like a risk asset, often outperforming gold when investor risk appetite improves.
At the same time, market participants expect at least two 25-basis-point rate cuts in 2026, with the first anticipated in June. Lower interest rates generally support non-yielding assets such as gold, strengthening overall bullion sentiment.
Market Outlook and Investment Signals
Analysts indicate near-term consolidation in gold prices following recent volatility, with key support seen around ₹1.54 lakh–₹1.55 lakh for gold and ₹2.40 lakh–₹2.45 lakh for silver. Despite short-term fluctuations and profit-booking near intraday highs, the broader sentiment remains cautiously positive amid global macroeconomic uncertainty.
In other precious metals, platinum rose 1.8% to $2,134.18 per ounce, while palladium gained 1.8% to $1,737.75, tracking the overall strength in the bullion segment.
Portfolio Role of Gold Remains Intact
Gold continues to be viewed as a liquid asset with no credit risk and long-term value preservation. Its diversified demand—from investment, reserves, jewelry, and technology—helps strengthen portfolios through long-term returns, diversification, and liquidity.
Meanwhile, growing investor interest in silver has prompted new financial products, including the launch of a Silver ETF and Silver ETF FoF by Angel One Asset Management Company Limited, with subscription windows beginning February 9, 2026.
👉 For more breaking news updates, in-depth reports, and real-time developments from across India, visit the City Buzz Daily homepage.
