Gold and silver rates are on the backfoot in early Tuesday trade. Gold is holding above $5,000/oz on COMEX, while Silver is around $82 per troy ounce. Silver is now down over 30% from its highs, but up more than 22% from recent lows.
Silver price today
In international markets, spot silver is trading near the $82 per ounce, marking a recovery of nearly 22% from its Thursday intraday record low of $64 an ounce.
Experts remain bullish on the near-term trajectory of the white metal, citing heavy industrial demand for silver. They have added that the prices of silver are expected to remain elevated till March.
The silver prices recovered after a significant selloff that erased almost 40% value from record highs. On MCX, the silver contract with the March expiry was trading at Rs 2.63 lakh per 10 kilogram, trading flat at 0.05%.
“Sentiment also improved following Japan’s weekend elections, where Prime Minister Sanae Takaichi’s ruling coalition secured a sweeping victory, reinforcing expectations of expansionary fiscal support. Elsewhere, cautious optimism followed US–Iran talks in Oman, although Tehran stood firm on nuclear enrichment,” said Ajay Kedia, Founder of Kedia Advisory.
Attention now turns to key US jobs and inflation data, which could shape expectations for future Federal Reserve policy, he added.
Earlier, a slightly stronger dollar and some cooling in global risk appetite prompted investors to cut exposure to volatile assets. Silver, by nature, reacts more sharply than gold. It is a smaller and thinner market, so when selling starts, the fall looks steeper.
The initial rally in January was driven by uncertainties in geopolitics, fears of currency devaluation, and concerns about the independence of the Federal Reserve, along with a continuous structural supply shortage and robust investment inflows.
The sharp reversal began after President Donald Trump nominated Kevin Warsh as the next Fed chair, a move viewed as hawkish by markets, prompting a rapid unwinding of speculative positions.
Gold rate today
Gold prices today were down 0.19% to trade at $5,070 per ounce on COMEX. Despite heightened volatility, gold remained underpinned by strong central bank purchases and ongoing investor interest in physical assets amid rising fiscal risks.
On the macro level, China’s central bank continued adding to its gold reserves in January, marking the 15th consecutive month of purchases. According to the PBOC, total holdings rose slightly to 74.19 million fine troy ounces from 74.15 million a month earlier.
The value of these reserves climbed sharply to $369.58 billion, up from $319.45 billion, reflecting higher global gold prices. Meanwhile, China’s overall gold consumption declined 3.75% in 2025 to 950 metric tons.
The rate for 24-carat gold today is Rs 1.58 lakh per 10 grams. The price of gold has surged by 2.17% from yesterday. The 24 kt gold rate today in Delhi is Rs 1.58 lakh per 10 grams. On the MCX, the precious metal for the April delivery was trading at a price of Rs 2.62 lakh per 10 grams, up 0.21%
What happened earlier?
Earlier, the precious metals plunged significantly, pausing the historic bullion rally in January 2026. The precious metal declined amid pressure from aggressive profit-booking following a sharp rally that had propelled both metals to fresh record highs last month. However, the news of a more Hawkish Fed Chief next led to the unwinding of speculative positions.