Gold, Silver Rates Today (Jan 12, 2026): Prices Hit All-Time Highs Across Cities

Gold and silver began the week with a sharp rally on Monday (January 12), scaling record highs in both domestic and global markets. Rising geopolitical tensions and a weaker rupee pushed investors towards precious metals, traditionally seen as safe havens during uncertain times.

On the Multi-Commodity Exchange (MCX), gold prices jumped 1.5 per cent by 10:20 am, gaining Rs 2,071 to trade at Rs 1,40,890 per 10 grams. The yellow metal touched a fresh lifetime high of Rs 1,41,250 earlier in the session. Silver outshone gold, surging 3.8 per cent or Rs 9,510 to Rs 2,62,235 per kg, after hitting a record Rs 2,63,996 per kg.

Geopolitical worries fuel the rally

Market sentiment remained tense as global political risks escalated. According to Ajay Kedia of Kedia Commodities, gold and silver opened with a strong gap-up amid growing geopolitical concerns. He said, If we talk about gold and silver, due to the geopolitical concerns that have arisen in the market over the past two days, we will see a gap-up opening in gold and silver today."

US President Donald Trump warned that Iran had crossed a “red line” over its handling of protests and hinted at taking strong action. He also cautioned Cuba over its ties with Venezuela, adding to global uncertainty.

Such developments typically benefit precious metals, as investors seek protection from risks like geopolitical conflicts, trade tensions and economic instability.

Weak rupee boosts domestic prices

Domestic prices found further support from a softer rupee, which slipped 5 paise to 90.23 against the US dollar. A weaker currency makes imported commodities like gold costlier in India, pushing local prices higher.

Global markets mirror the surge

International markets echoed the bullish trend. Spot gold rose 1.3 per cent to USD 4,569.14 per ounce, after crossing the USD 4,600 mark for the first time at USD 4,601.17. Spot silver surged over 4 per cent to USD 83.49 per ounce, briefly touching a record USD 84.00.

A crucial week ahead for commodities

Analysts say the coming days could be decisive for the commodity market. Ongoing geopolitical developments, expected court verdicts on tariffs, upcoming CPI data and the Bloomberg Commodity Index rebalancing—linked to a USD 100 billion fund, are all lined up this week. With multiple triggers in play, volatility in gold, silver and broader commodities is likely to stay high.