Jewellers Step Up Buying as Spot Gold Crosses Rs. 1.37 Lakh and Global Prices Near $4,350

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Gold prices moved higher on Friday morning as buying demand remained strong and the US dollar stayed weak. Gold price today showed a clear rise in both futures and spot markets. The increase reflected fresh buying from investors and jewellers at the start of the new year. Market sentiment stayed positive as global prices also supported the trend.

In the futures market, MCX gold price for February delivery rose by nearly 0.7%. It traded around Rs. 1,36,742 per 10 grams during morning trade. Silver prices also showed a strong jump. MCX silver March futures climbed by almost 1.7% and reached around Rs. 2,39,967 per kilogram. These gains followed strong activity in the physical market and positive global signals.

Strong Rise in Spot Market Prices


Gold prices in the spot market also increased across major Indian cities. Gold of 24 carat purity traded above Rs. 1,37,000 per 10 grams, rising by more than Rs. 1,000 in a single session. Silver prices jumped sharply by over Rs. 4,500 per kg and moved close to Rs. 2,40,500. Strong buying from jewellers and investors helped push prices higher. Spot market trends usually guide futures prices, and Friday’s rise followed the same pattern.

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Global markets added support to domestic prices. International spot gold rose by about one percent and traded near $4,351 per troy ounce. Spot silver gained nearly two percent and moved above $72 per troy ounce. These gains improved market confidence and supported higher prices in India.

Weak Dollar and Rate Cut Hopes Boost Gold


The main reason behind the rise remained dollar weakness. The US dollar traded near its lowest level in two weeks against other major currencies. A weak dollar makes gold cheaper for buyers in other countries. This increases global demand for gold. Gold also remains a popular choice during uncertain times, as it is seen as a safe investment.

Market attention also stayed on expectations of interest rate cuts by the US Federal Reserve. Lower interest rates reduce the cost of holding gold. This supports higher prices. Investors now watch upcoming US economic data closely. The US central bank will hold its policy meeting later this month. Any signal on future rates may affect gold and silver prices.

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Strong Performance & Outlook for 2026


Gold and silver saw strong gains in 2025. Domestic gold prices rose by around 75% during the year. Silver prices were even more favorable and jumped almost 167%. Gold prices got their support from central bank purchases, international conflicts, anticipation of rate cuts, and uninterrupted investments into gold funds. 

Silver prices were lifted by strong demand from the areas of electric vehicles, solar power, chips, and data centres. Moreover, limited supply also played a supportive role for silver prices.

Market experts believe prices may stay firm in the near term. Analysts stated that MCX gold price may face resistance near Rs. 1,37,000 per 10 grams, while support lies slightly lower. Silver prices may also remain strong due to steady industrial demand and global support.

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Prices may move up and down due to global factors like currency changes and policy decisions. Gold price today remains well supported by strong spot demand and a weak dollar, keeping gold and silver in focus at the start of 2026.