Gold and Silver Prices Surge to Record Highs on January 12, 2026
Current Gold and Silver Rates
On January 12, 2026, the prices of gold and silver have reached unprecedented levels, with the market experiencing a significant surge. Both metals have hit new highs on the Multi Commodity Exchange (MCX), and the jewelry market is also witnessing record prices.
Latest Rates (January 12, 2026):
- Gold (24 Carat / 999 Purity): Reports indicate that the price has surpassed ₹1,40,000 for 10 grams. For instance:
- In Mumbai/Delhi, prices range from approximately ₹1,40,215 to ₹1,40,450 per 10 grams (according to IBJA and other sources).
- 22 Carat gold is priced around ₹1,28,000 to ₹1,30,000 per 10 grams.
- Gold is trading above ₹1,40,000 in the February contract on MCX.
- Silver: Today, silver has seen a substantial increase. Prices on MCX have reached between ₹2,52,000 and ₹2,63,000 per kilogram, while the spot market in Delhi/Mumbai recorded prices from ₹2,57,000 to ₹2,59,900 per kilogram. In some areas, prices have surged over ₹9,000, exceeding ₹2.5 lakh.
This upward trend has been ongoing, with silver prices jumping more than ₹9,000 recently.
Reasons Behind the Surge
Factors Contributing to the Price Increase:
Experts attribute this surge to various global factors, including geopolitical tensions (such as the U.S.-Iran situation and Venezuela), trade uncertainties, expectations of U.S. Federal Reserve rate cuts, a weakening dollar, and increased gold purchases by central banks. Additionally, industrial demand for silver (in sectors like solar and electronics) and supply shortages are significant contributors. Silver prices saw a remarkable increase of 170% in 2025, and this trend may continue into 2026.
Future Predictions for Silver Prices
Will Silver Reach ₹3.2 Lakh?
Some experts and reports (including those from Motilal Oswal) predict that silver on MCX could reach ₹3.20 lakh per kilogram in 2026. Internationally, silver prices are forecasted to rise to $95-$100 per ounce, which could further elevate prices in India. However, market fluctuations may persist, and some areas have already experienced slight declines due to profit-taking.