Gold and silver price today: Bullion rallies as gold tops Rs 1.80 lakh, silver jumps past Rs 4 lakh

Gold and silver prices surged sharply on Thursday, extending their strong rally across domestic and international markets, supported by safe-haven demand, global uncertainties and firm investor interest.

On the Multi Commodity Exchange (MCX), gold February 5 futures jumped Rs 14,082, or 8.49 per cent, to trade at Rs 1,79,997 per 10 grams. During the session, prices moved between a low of Rs 1,69,882 and a high of Rs 1,80,779, crossing the Rs 1.80 lakh mark for the first time. The contract also touched its 52-week high in early trade.

Silver March 5 futures also recorded strong gains, rising Rs 18,973, or 4.92 per cent, to Rs 4,04,339 per kg. Prices traded in a range of Rs 3,95,001 to Rs 4,08,487 during the session and hit a fresh 52-week high. With this move, silver prices crossed the Rs 4 lakh mark on the MCX.

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Gold and Silver Price International Markets

In the international market, spot gold continued its rally and hit a record high, supported by safe-haven buying amid geopolitical and economic uncertainties. Spot gold rose 2.7 per cent to $5,542.29 an ounce by 0149 GMT, after touching an all-time high of $5,591.61 earlier in the day. Prices crossed the $5,000 level for the first time on Monday and have gained more than 10 per cent so far this week.

Gold has risen more than 27 per cent so far this year, following a strong rally of about 64 per cent in 2025. Market participants attributed the sharp rise to a combination of factors, including heightened geopolitical tensions, continued central bank purchases, firm investment demand and a weaker US dollar.

Geopolitical developments also supported bullion prices. US President Donald Trump on Wednesday urged Iran to return to negotiations and strike a deal on nuclear weapons, warning that any future US military action would be more severe. Iran responded by warning of retaliation against the US, Israel and their allies, adding to global uncertainty and boosting demand for safe-haven assets.

Why Are Gold and Silver Prices Rising?

On the policy front, the US Federal Reserve kept interest rates unchanged on Wednesday, in line with market expectations. Federal Reserve Chair Jerome Powell said inflation in December was likely still well above the central bank’s 2 per cent target, indicating that policy tightening may remain restrictive. Elevated interest rate uncertainty has supported gold demand as investors seek protection against inflation and market volatility.

Additional support for gold prices came from reports that crypto group Tether plans to allocate 10–15 per cent of its investment portfolio to physical gold. The move is seen as adding to institutional demand for the yellow metal.

Meanwhile, physical demand remained strong in parts of Asia. With gold prices at record levels, customers were seen flocking to jewellery and bullion stores in Shanghai and Hong Kong, with some buyers betting that prices could rise further in the near term.

Spot silver also traded higher, rising 1.1 per cent to $117.87 an ounce, after touching a record high of $119.34 earlier in the session. Silver prices have been supported by investor demand for relatively cheaper alternatives to gold, along with supply constraints and momentum buying. The metal has gained more than 60 per cent so far this year.

In other precious metals, spot platinum rose 1 per cent to $2,723.40 an ounce after hitting a record high of $2,918.80 earlier in the week. Palladium, however, slipped 1.6 per cent to $2,041.20 an ounce.

Anil Singhvi Sees Strong Gains in Gold and Silver

Market expert Anil Singhvi said gold and silver have shown sharp gains in the last two days. Gold has reached around Rs 1,66,500 per 10 grams, while silver is trading near Rs 38,800 per kg in global markets.

“Gold rose by about Rs 10,000 and silver by around Rs 50,000 in just two days,” Singhvi said. He added that both metals are at multi-month highs globally.

Singhvi highlighted that global factors, including geopolitical tensions and crude oil movements, are supporting metals. He advised that investors holding metals are seeing gains, while those who missed buying should monitor prices carefully.