Gold prices edged lower while silver registered modest gains in early trade on Friday, according to market data. The price of 24-carat gold declined by Rs 10 to Rs 1,43,610 per 10 grams. Similarly, 22-carat gold slipped by Rs 10, with 10 grams trading at Rs 1,31,640. Across major cities, 24-carat gold was priced at Rs 1,43,610 per 10 grams in Mumbai and Kolkata, while Chennai recorded a higher rate of Rs 1,44,990. In Delhi, the price stood at Rs 1,43,760 per 10 grams. For 22-carat gold, rates in Mumbai, Kolkata, Bengaluru, and Hyderabad were uniform at Rs 1,31,640 per 10 grams. Chennai saw the metal trading at Rs 1,32,910, while Delhi recorded a price of Rs 1,31,790 per 10 grams. Silver prices, meanwhile, moved higher. The price of one kilogram of silver rose by Rs 100 to Rs 2,95,100 in Delhi, Kolkata, and Mumbai. In Chennai, silver was trading at a higher level of Rs 3,10,100 per kilogram. Gold, silver prices ease moderately as US dollar gains Gold and silver prices fell on MCX and global markets on Friday as the US dollar strengthened, following weaker than expected weekly jobless claims. Further, a softer tone from US President Donald Trump on Iran reduced safe‑haven demand for the precious metals. MCX gold February futures dipped 0.26 per cent to Rs 1,42,743 per 10 grams in morning trade, while MCX silver March futures eased 0.94 per cent to Rs 2,88,824 per kg. Spot gold eased about 0.29 per cent to $4,602.43 an ounce, though it remained around 2 per cent higher for the week. Spot silver fell roughly 0.8 per cent to $91.69 an ounce after earlier touching an all‑time high of about $93.57–$93.70 during the session. Analysts said the pullback came as the dollar index climbed toward 99.49, its strongest level since early December. Market watchers said that rising geopolitical risks stemming from unrest in Iran and tensions involving Venezuela and Greenland continue to provide demand for precious metals. Gold and silver prices are expected to remain volatile this week amid volatility in the dollar index, ahead of the US Supreme Court decision on tariffs, they added. The Augmont Bullion report said that silver retreated sharply from its record high of USD 93 after Trump refrained from announcing new tariffs on critical mineral imports. Instead, he said the US keeps negotiations open with foreign countries to secure supplies and swiftly cut supply-chain risks, while considering import curbs only if talks fail to yield timely results. The report predicted that traders can witness some profitbooking and retracement, before prices move higher again. Investors are looking for cues from the US Federal Reserve for a potential easing amid global uncertainty. Softer-than-expected November producer inflation, both headline and core, alongside mild December consumer inflation data, has increased hopes of the US Fed implementing multiple rate cuts later this year. (With inputs from Agencies)
16 January,2026 11:46 AM IST | Mumbai | mid-day online correspondentThe domestic equity benchmarks opened marginally higher on Thursday but are expected to remain cautious and range-bound through the session, weighed down by persistent foreign portfolio investor (FPI) selling, mixed global cues and limited expectations from the upcoming Union Budget. The Nifty 50 opened at 25,696.05, gaining 30.45 points or 0.12 per cent, while the BSE Sensex began the day at 83,670.79, up 288.08 points or 0.35 per cent. Ajay Bagga, Market expert told ANI that Indian markets are currently in a "wait and watch" mode. He said "There are not very high expectations from the Union Budget 2026 so far has been like 2025, with IPOs seeing a "lottery investment for listing gains" mentality while FPI selling in the secondary markets stays elevated. Indian markets will benefit from a sentiment boost following the top Indian bureaucrat in the Commerce Ministry holding out hopes for an India EU trade deal to be signed by 26th January and saying that an India US trade deal is progressing well. The wait is for a positive news on the trade deal front. An EU deal will be a morale booster as the EU represents a huge potential market for Indian goods". In the broader market, indices opened in green. The Nifty 100 rose 0.12 per cent, the Nifty Midcap 100 gained 0.13 per cent and the Nifty Smallcap 100 was up 0.10 per cent in early trade. Sectorally, trends were mixed. On the NSE, Nifty FMCG gained 0.48 per cent, Nifty IT surged 1.61 per cent, Nifty PSU Bank rose 0.18 per cent and Nifty Metal added 0.30 per cent. On the downside, Nifty Auto slipped 0.3 per cent, Nifty Pharma fell 0.22 per cent and Nifty Media also declined. Several major companies are set to announce their Q3 results today, including Reliance Industries, Wipro, Tech Mahindra, Polycab India, L&T Finance, Federal Bank, JSW Infrastructure, Poonawalla Fincorp, Central Bank of India, JB Chemicals and Pharmaceuticals and Tata Technologies. Ponmudi R, CEO of Enrich Money, said "Indian equity markets are set to begin the session on a cautious and range-bound note as multiple global headwinds continue to cap risk appetite. Ongoing geopolitical developments and tariff-related uncertainties are clouding near-term visibility. Sentiment also remains restrained due to persistent FII outflows and mixed reactions to Q3 earnings, which have made participants more selective and defensive in their approach". On the fund flow front for January 14, FIIs sold equities worth Rs 4,781.2 crore, while DIIs were net buyers to the tune of Rs 5,217.3 crore. Globally, US markets received support from easing Iran-related tensions, strong results from TSMC boosting AI and semiconductor stocks, and gains in financials led by Goldman Sachs and Morgan Stanley. Asian markets, however, showed a mixed trend in early trade, adding to the cautious tone for Indian equities. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
16 January,2026 10:39 AM IST | New Delhi | ANIThe rupee extended its weakening momentum for the third straight session, losing 10 paise to 90.44 against the US dollar in early trade on Friday, weighed down by relentless outflow of foreign funds and a firm greenback. Lower crude oil prices and positive equity market sentiment prevented a steep fall in the domestic currency, forex traders said. At the interbank foreign exchange, the rupee opened at 90.37 and slipped further to trade at 90.44 against the greenback, 10 paise lower than the closing level of the previous session. The rupee declined 11 paise to close at 90.34 against the US dollar on Wednesday, a day after falling 6 paise. The foreign exchange markets were closed on Thursday due to a holiday for the Mumbai municipal corporation elections. Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was trading 0.02 per cent lower at 99.10. Analysts said the American currency was impacted by the December US inflation numbers, which have reduced hopes for an immediate interest rate cut by the Federal Reserve. Also, they said that the rupee faced pressure after data released on Thursday showed India's trade deficit widened slightly to USD 25.04 billion in December 2025, compared to USD 24.53 billion in November and USD 22 billion in December 2024. Brent crude, the global oil benchmark, was trading 0.34 per cent lower at USD 63.54 per barrel in futures trade. On the domestic equity market front, the Sensex climbed 210.04 points to 83,592.75, while the Nifty rose 34.65 points to 25,700.25. Foreign institutional investors offloaded equities worth Rs 4,781.24 crore on Wednesday, according to exchange data. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
16 January,2026 10:36 AM IST | Mumbai | PTIGold hovered near a fresh record high on Thursday, while silver also touched a new peak on Wednesday, as softer US inflation data and elevated geopolitical tensions boosted safe haven demand among investors. Considering the commodity market, MCX gold February futures rose 0.53 per cent to Rs 1,42,995 per 10 grams around 10:05 am on Wednesday, while the gold price in Mumbai was recorded at Rs 1,42,680 for 10 grams. While the reason for the sudden spike in gold prices is still not clear, analysts said the softer inflation print, coupled with mixed US jobs data, will lead the Fed to hold in January but likely undertake two to three cuts through the year, supporting gold prices, as reported by news agency IANS. Gold prices in Mumbai The global turmoil and tariffs imposed by the US are a few of the reasons speculated by the experts for the sudden surge in gold prices. While the demand for the metal continues to be stagnant, the price of gold in Mumbai for 24-carat gold was recorded at Rs 1,42,680 for 10 grams, while the price of 22-carat gold was recorded at Rs 1,30,800 Gold prices in Delhi Apart from the financial capital of India, prices of gold in the national capital on Thursday also experienced an all-time high, with prices crossing the Rs 1.4 lakh mark. The price of 24-carat gold in Delhi was recorded at Rs 1,42,820. Whereas, the price of 22-carat gold in Delhi was recorded at Rs 1,30,940 for 10 grams. While commenting on the global uncertainties, Rahul Kalantri from Mehta Equities said, "Ongoing geopolitical and economic uncertainties continued to fuel safe-haven demand. Civil unrest in Iran and rising geopolitical tensions further supported buying interest in precious metals. Core CPI was below expectations of 0.3 per cent and remained steady on a year-on-year basis, reinforcing the view that underlying inflation pressures are easing." Market watchers also pointed to rising geopolitical risks stemming from unrest in Iran and tensions involving Venezuela and Greenland as additional drivers of demand, as per IANS. Experts further added that “gold and silver prices are expected to remain volatile this week amid volatility in the dollar index, ahead of the US Supreme Court decision on tariffs,” as per IANS. (With inputs from IANS)
15 January,2026 10:17 AM IST | Mumbai | mid-day online correspondentGold prices edged higher in early trade on Wednesday, with the rate of 24-carat gold rising by Rs 10 to Rs 1,42,540 per 10 grams, according to official data. Silver prices also firmed up, gaining Rs 100 to trade at Rs 2,75,100 per kilogram. The price of 22-carat gold increased by Rs 10 to Rs 1,30,660 per 10 grams. In major cities, 24-carat gold was priced at Rs 1,42,540 per 10 grams in Mumbai and Kolkata, while the rate stood at Rs 1,43,690 in Chennai. In Delhi, 10 grams of 24-carat gold was trading at Rs 1,42,690. For 22-carat gold, prices in Mumbai, Kolkata, Bengaluru and Hyderabad stood at Rs 1,30,660 per 10 grams, while Chennai recorded a higher rate of Rs 1,31,710. In Delhi, 10 grams of 22-carat gold was priced at Rs 1,30,810. Silver prices were steady across most markets, with one kilogram trading at Rs 2,75,100 in Delhi, Kolkata and Mumbai. In Chennai, silver was priced higher at Rs 2,92,100 per kilogram. Stock markets trade flat amid volatile trends Meanwhile, equity benchmark indices Sensex and Nifty encountered heavy volatility in early trade on Wednesday, with investors staying on the sidelines amid persistent foreign fund outflows and global tariff-related uncertainties. The 30-share BSE Sensex declined 53.88 points to 83,573.11 in early trade. The 50-share NSE Nifty dipped 16.55 points to 25,719.25. From the 30-Sensex firms, Asian Paints, Tata Consultancy Services, Bajaj Finserv, InterGlobe Aviation, Sun Pharma and UltraTech Cement were among the biggest laggards. However, Tata Steel, Bharat Electronics, NTPC and Axis Bank were among the gainers. Foreign institutional investors offloaded equities worth Rs 1,499.81 crore on Tuesday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 1,181.78 crore, according to exchange data. In Asian markets, South Korea's Kospi index, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index traded higher. US markets ended lower on Tuesday. Brent crude, the global oil benchmark, dipped 0.49 per cent to USD 65.15 per barrel. On Tuesday, the Sensex dropped 250.48 points or 0.30 per cent to settle at 83,627.69. The Nifty edged lower by 57.95 points or 0.22 per cent to 25,732.30.
14 January,2026 10:17 AM IST | Mumbai | mid-day online correspondentGold prices inched higher in early trade on Tuesday, with the rate of 24-carat gold rising by Rs 10 to Rs 1,42,160 per 10 grams. Silver prices also moved up, gaining Rs 100 to trade at Rs 2,70,100 per kilogram, according to market data. The price of 22-carat gold increased by Rs 10 as well, with 10 grams selling at Rs 1,30,310. Across major cities, the price of 24-carat gold remained uniform at Rs 1,42,160 per 10 grams in Mumbai and Kolkata, while it was higher in Chennai at Rs 1,43,140. In the national capital, Delhi, 24-carat gold was priced at Rs 1,42,310 per 10 grams. For 22-carat gold, Mumbai, Kolkata, Bengaluru and Hyderabad recorded a rate of Rs 1,30,310 per 10 grams, while Chennai saw a higher price of Rs 1,31,210. In Delhi, the yellow metal was quoted at Rs 1,30,460 per 10 grams. Silver prices stood at Rs 2,70,100 per kilogram in Delhi, Kolkata and Mumbai, while Chennai recorded a higher rate of Rs 2,87,100 per kilogram. Gold, silver prices hit fresh highs amid global uncertainties Meanwhile, gold and silver prices touched record highs on Monday as markets reacted to the US Justice Department's escalation of tensions with the Federal Reserve and intensifying protests in Iran that heightened geopolitical risks. MCX gold February futures surged 1.46 per cent to Rs 1,40,838 per 10 grams, while MCX silver March futures rose 3.66 per cent to Rs 2,61,977 per kg. Spot gold price surged 1.45 per cent at USD 4,575.82 an ounce, after hitting a fresh record high of USD 4,601.17 level. Silver prices gained 4.85 per cent to touch USD 83.19, after hitting a record high of USD 83.88. Gold gained over 4 per cent last week, while silver rallied more than 7 per cent. Russia's war in Ukraine, the US capture of Venezuela's President Nicolas Maduro, and Washington's renewed signals over taking control of Greenland also act as tailwinds for rally of precious metals. In the international market, spot gold surged past the USD 4,600 per ounce level for the first time. The yellow metal gained USD 90.72, or 2 per cent, to touch a record USD 4,601.69 per ounce.
13 January,2026 10:51 AM IST | Mumbai | mid-day online correspondentThe price of 24-carat gold fell Rs 10 in early trade on Monday, with ten grams of the precious metal trading at Rs 1,40,450. The price of silver also dropped by Rs 100, with one kilogram of the precious metal selling at Rs 2,59,900. The price of 22-carat gold declined by Rs 10, with ten grams of the yellow metal selling at Rs 1,28,740. The price of ten grams of 24-carat gold stood at Rs 1,40,450 in Mumbai and Kolkata, and Rs 1,39,640 in Chennai. In Delhi, the price of ten grams of 24-carat gold stood at Rs 1,40,600. In Mumbai, the price of ten grams of 22-carat gold was Rs 1,28,740, the same as in Kolkata, Bengaluru, Hyderabad, and Rs 1,28,990 in Chennai. In Delhi, the price of ten grams of 22-carat gold stood at Rs 1,28,890. The price of one kilogram of silver in Delhi, Kolkata, and Mumbai stood at Rs 2,59,900. The price of one kilogram of silver in Chennai stood at Rs 2,74,900. MCX silver may hit Rs 3.2 lakh in 2026: Report Meanwhile, after a sharp 170 per cent rally in MCX silver prices last year, domestic brokerage firm Motilal Oswal believes the white metal still has enough strength to continue its record-breaking run in 2026. Silver emerged as the best-performing precious metal in 2025, beating not just gold but also most major asset classes. In its latest report, Motilal Oswal said the strong rise in silver and gold prices was driven by a mix of global factors such as rising geopolitical tensions, trade uncertainties, easier monetary policies, strong inflows into exchange-traded funds, supply constraints and growing demand for safe-haven assets. Motilal Oswal has pegged its 2026 target for MCX silver at Rs 3.20 lakh per kilogram, with a risk-negation level set at Rs 1.40 lakh. Based on the current price of around Rs 2.52 lakh, this suggests a potential upside of nearly 27 per cent. A steady decline in exchange inventories also added fuel to the rally. The brokerage noted that its earlier price targets were achieved much faster than expected. At the beginning of 2025, it had projected gold to reach Rs 84,000 and silver to hit Rs 1,10,000 by the end of the year. However, gold touched Rs 84,000 in the first quarter itself and later surged to a record high of Rs 1,40,465. Silver crossed Rs 88,000 by the second quarter and went on to hit an all-time high of Rs 2,54,000, more than doubling the brokerage’s initial estimate. Motilal Oswal said silver clearly outperformed gold due to its unique dual role as both a precious metal and an industrial metal. While global uncertainty boosted its safe-haven appeal, rising industrial usage gave silver an additional push. The brokerage pointed out that industrial demand for silver reached its second-highest level on record in 2025, supported by rapid growth in solar power installations, electric vehicles, electrification and higher investments in power grid infrastructure. This strong demand kept the silver market in a structural deficit for the fifth straight year, with consumption consistently exceeding supply. According to the report, this imbalance led to brief periods of backwardation in prices, a rare situation that signals tight physical availability in the market. (With inputs from Agencies)
12 January,2026 12:18 PM IST | Mumbai | mid-day online correspondentThe rupee depreciated 5 paise to 90.23 against the US dollar in early trade on Monday, driven by rising crude oil prices and an unabated outflow of foreign funds. According to forex traders, a volatile geopolitical situation and concerns over further US tariffs on Indian exports fueled the selling of Indian stocks by foreign institutional investors, even as traders awaited cues from macroeconomic data to be released this week. At the interbank foreign exchange, the rupee opened at 90.23 and stayed weaker by 5 paise from its previous closing level. On Friday, the rupee fell 28 paise to close at 90.18 against the US dollar. Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, was trading 0.14 per cent lower at 98.75. Brent crude, the global oil benchmark, was trading 0.13 per cent higher at USD 63.44 per barrel in futures trade. On the domestic equity market front, the 30-share benchmark index Sensex declined 356.49 points or 0.43 per cent to 83,219.75, while the Nifty dipped 94.90 points or 0.37 per cent to 25,588.40. Analysts said several factors like the development related to Venezuela, Iran and US President Donald Trump's possible move towards Greenland are influencing the sentiment worldwide. Foreign institutional investors offloaded equities worth Rs 3,769.31 crore on Friday, according to exchange data. The latest weekly data released by the Reserve Bank of India (RBI) on Friday showed India's forex reserves dropped by USD 9.809 billion to USD 686.801 billion in the week to January 2. In the previous reporting week, the forex reserves had jumped by USD 3.293 billion to USD 696.61 billion. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
12 January,2026 10:35 AM IST | Mumbai | PTIAhead of Budget 2026-27, business leader and former Infosys board member TV Mohandas Pai said the Indian economy is in good shape, with growth expected at 7.5 per cent or higher in the current financial year, and jobs being created at a fast pace, news agency IANS reported. He emphasised that the government must maintain a strong focus on job creation in the upcoming budget. While speaking to the media on Friday, Pai highlighted that 1.2–1.4 crore new members are joining EPFO and contributing through Aadhaar. Pai also remarked, "Don't believe all these leftist JNU people who say there are no jobs. The jobs are happening." "However, the tragedy of India is that we are in the midst of a youth bulge. Between 1990 and 2010, about 50 crore children were born. Now, they're all growing up and coming into the workforce. Every year, two and a half crore young people come into the workforce, and a majority of them want jobs," added Pai. 80 per cent of jobs in India pay less than Rs 20,000 The former Infosys board member said that maybe 1.82 crore people want jobs every year, but 80 per cent of jobs pay less than Rs 20,000, so it is important to create high-paying jobs, especially in urban areas. While coming out strongly in favour of expanding the Kaushal scheme launched by the Centre, Pai thinks that the 2026-27 budget should majorly focus on job creation and more schemes that could provide incentives to the private sector for creating more employment. "First, declare 350 poor districts as employment, special employment zones (SEZs), and say anybody creating a job there, paying ESI and PF, will get Rs 2,000 a month as an incentive for 24 months for that employee," Pai said. He contended that this would defray the cost of hiring and training in that particular place. Because when you go to the rural areas and hire people, you've got to train them up, he said. Pai further stated, "They say their skill is there, but you don't get it. And also, the government must pay the ESI and PF contribution for that employee for two years, which is already there in the Kaushal scheme. And that will create a lot of jobs in the 350 poorest districts." Pai emphasised that there was a need to invest in developing infrastructure in the 5,000 smaller towns all over India. "In the smaller cities, there will be job creation. And because we don't get excess labour supply in the bigger cities, wages will go up everywhere," he said, adding that the country’s banking sector is in great shape. He also said that investment is going up in the economy, with next year’s GDP growth expected at 6.5 to 7 per cent despite the global uncertainties. The investment would be about Rs 95 lakh crore, which is more than a trillion dollars, believes Pai. (With inputs from IANS)
09 January,2026 09:01 PM IST | New Delhi | mid-day online correspondentBMW Group India has called on the Centre to maintain the 5 per cent goods and service tax (GST) on electric vehicles (EVs) in the upcoming Union Budget 2026, stressing that any increase could hamper adoption and affect the automotive industry. Hardeep Singh Brar, president and CEO of BMW Group India, told PTI that while the government has managed the economy well, the GST rate on EVs should remain unchanged. “I think the government has done a fantastic job in terms of managing the overall economy and making sure that we don't drop below the 7 per cent mark, which is very crucial for the country. I don't think we have more expectations from them,” Brar said. He added, “The only request would be not to touch the GST slab of EVs because it keeps coming back that the GST on these vehicles will be increased. If it happens, I think it will be very detrimental because EV penetration is still about 4 per cent in India, compared to more than 10 per cent in developed countries, and 40 per cent in China. Until adoption reaches a higher level, increasing GST could hurt the industry.” VIDEO | Union Budget 2026: BMW pitches for retaining 5 per cent GST on EVs in forthcoming BudgetHardeep Singh Brar, President and CEO at BMW Group India, told PTI, "I think the government has done a fantastic job in terms of managing the overall economy and making sure that we… pic.twitter.com/lBbghnTFK8 — Press Trust of India (@PTI_News) January 9, 2026 Brar also highlighted that the higher manufacturing costs of EVs, which are 40–50 per cent higher than internal combustion engine (ICE) vehicles, and said the current GST rate helps bridge this gap. BMW India records strong sales growth BMW India reported a 14 per cent growth in 2025, outperforming the overall market, which grew at about 5–6 per cent, PTI reported. The company sold 18,001 vehicles last year, with 6,000 units in Q4 alone. Brar outlined BMW’s ongoing strategy of product refreshes, network expansion, and electrification. “We are now present in 40 cities with nearly 100 touchpoints and plan to add 10 more next year. Two major pillars of our strategy are electrification and long-wheelbase models,” he said. The company has significantly increased its EV penetration, from 8 per cent in 2024 to 21 per cent in 2025, with Q4 seeing a jump to 23 per cent due to better supply. BMW plans to launch three new electric vehicles in 2026, aiming to reach 25 per cent EV penetration in its portfolio. BMW’s MINI brand, which had limited new models last year, launched the MINI Convertible, which sold out in its first month. Brar told PTI that 10 new MINI models and special editions will be launched this year, with plans to double MINI volumes in 2026. BMW India is investing Rs 400 crore in upgrading customer experience through lounges and enhanced dealership spaces. “People are spending more time here, which increases brand engagement and loyalty,” Brar noted. (With PTI inputs)
09 January,2026 02:46 PM IST | MumbaiGold prices edged lower in early trade on Friday, while silver also witnessed a marginal decline across major Indian cities. The price of 24-carat gold slipped by Rs 10 to Rs 1,37,990 per 10 grams. Similarly, 22-carat gold eased by Rs 10, with 10 grams trading at Rs 1,26,490. In Mumbai and Kolkata, 10 grams of 24-carat gold was priced at Rs 1,37,990, while the rate in Chennai stood slightly higher at Rs 1,39,080. In the national capital, Delhi, 10 grams of 24-carat gold was selling at Rs 1,38,140. For 22-carat gold, prices in Mumbai, Kolkata, Bengaluru, and Hyderabad were steady at Rs 1,26,490 per 10 grams. Chennai recorded a higher rate of Rs 1,27,490, while Delhi saw 22-carat gold trading at Rs 1,26,640 per 10 grams. Silver prices also declined by Rs 100 in early trade. One kilogram of silver was priced at Rs 2,51,900 in Delhi, Mumbai, and Kolkata. In Chennai, however, silver was trading at a higher rate of Rs 2,71,900 per kilogram. Silver slides nearly 3.5 pc on MCX Meanwhile, silver prices fell sharply on Thursday as selling pressure increased ahead of the annual rebalancing of global commodity indexes and the release of key US economic data. On the Multi Commodity Exchange (MCX), silver dropped nearly 3.5 per cent to trade below Rs 2,42,000 per kilogram during the session. The decline came after passive investment funds were expected to reduce their holdings in precious metals futures to match new index weightings. The selling is seen as heavier than usual following the strong rally in gold and silver in recent months. While writing the article, silver moved between an intra-day low of Rs 2,48,163 and a high of Rs 2,51,889, compared with the previous close of Rs 2,50,605. In the previous trading session, MCX silver had already fallen sharply, slipping by as much as Rs 11,700 per kilogram to touch a low of Rs 2,47,100. The key accumulation zone remains Rs 2,45,000–Rs 2,48,000 -- highlighting silver’s role as a high-beta outperformer within the precious metals complex, as per market watchers. In international markets, COMEX silver showed limited recovery. Prices erased early gains and were trading slightly higher at USD 77.780 per ounce. Earlier in the session, silver had risen to an intra-day high of $78.875 per ounce, gaining around 1.5 per cent after Wednesday’s selloff. Market participants remain cautious as index rebalancing-related flows and upcoming US economic data are likely to keep silver prices volatile in the near term. (With inputs from Agencies)
09 January,2026 10:09 AM IST | Mumbai | mid-day online correspondentADVERTISEMENT
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