Gold and silver prices have surged to fresh all-time highs, driven by growing global uncertainty. Renewed fears of a potential trade war between the United States and the European Union have pushed investors toward traditional safe-haven assets, fueling a strong rally in precious metals.
📊 Current Market Prices on MCX
As per the latest data from the Multi Commodity Exchange (MCX), both gold and silver futures witnessed sharp gains:
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🥇 Gold Futures (Feb 5, 2026)
📈 Up 1% (₹1,300) to ₹1,46,988 per 10 grams -
🥈 Silver Futures (March 5, 2026)
📈 Surged 2.5% (₹7,869) to ₹3,19,949 per kg
🔍 What’s Driving the Rally?
The sharp rise in prices follows tariff threats issued by US President Donald Trump. These threats stem from opposition by European nations to his controversial proposal regarding the purchase of Greenland, intensifying geopolitical and economic uncertainty across global markets.
As a result, investors have increased allocations to gold and silver, traditionally viewed as safe stores of value during turbulent times.
🌍 International Market Highlights
Precious metals also posted strong gains in global markets:
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🥈 Silver (COMEX):
Reached a lifetime high of $94.73 per troy ounce during Asian trading hours. -
🥇 Gold (International):
Hovered near record levels at approximately $4,670 per troy ounce.
🧠 Expert Outlook: Strength Likely to Continue
According to Manoj Kumar Jain of Prithvi Finmart, precious metals are expected to remain strong in the near term, although investors should brace for high volatility due to ongoing geopolitical developments.
📈 Support and Resistance Levels (International)
| Metal | Support Levels | Resistance Levels |
|---|---|---|
| Gold | $4,635 – $4,610 | $4,700 – $4,740 |
| Silver | $91.40 – $88.00 | $96.60 – $98.80 |
🏦 MCX Support and Resistance Levels
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🥇 Gold (MCX):
Support: ₹1,44,800 – ₹1,44,100
Resistance: ₹1,46,350 – ₹1,47,000 -
🥈 Silver (MCX):
Support: ₹3,03,000 – ₹2,96,600
Resistance: ₹3,14,000 – ₹3,22,000
🎯 Trading Strategy: Buy on Dips
Market analysts recommend a “buy on dips” strategy, citing strong fundamentals and sustained global uncertainty.
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🎯 Gold Target: ₹1,48,000
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🎯 Silver Target: ₹3,22,000
✅ Final Takeaway
With geopolitical tensions rising and economic uncertainty looming, gold and silver continue to shine as preferred safe-haven investments. While volatility remains high, the overall trend for precious metals appears firmly bullish in the near term.