Gold price today: MCX gold rates slipped in the morning trade on Thursday, 1 January, on profit booking amid a rise in the US dollar. However, increased expectations of further rate cuts by the US Fed this year limited the losses for the yellow metal.
Silver, on the other hand, traded with gains on increased spot demand. MCX gold February futures were 0.07% down at ₹1,35,350 per 10 grams around 9:15 am. MCX silver March contracts were 0.17% up at 2,36,108 per kg at that time.
Gold and silver prices clocked stellar gains last year. According to MCX data, domestic spot gold jumped by 56,727, or 75%, per 10 grams in 2025, rising from 75,913 per 10 grams on 31 December 2024 to 1,32,640 per 10 grams on 31 December 2025. On the other hand, silver clocked an even steeper gain of 1,43,601 167%, per kg, rising from 85,851 on 31 December 2024 to 2,29,452 per kg on 31 December 2025.
International gold prices witnessed their largest annual gain since 1979, rising 66% in 2025.
US Federal Reserve rate cuts and expectations of further rate reductions, central bank buying, and strong inflows into exchange-traded funds (ETFs), amid increased geopolitical uncertainties, drove gold and silver prices to unprecedented highs last year. Silver had additional drivers in terms of strong industrial demand from sectors such as electric vehicles, solar, semiconductors, and data centers, amid tight supply.
(This is a developing story. Please check back for fresh updates.)
