Gold prices achieved a historic milestone on Monday as the precious metal surged to an unprecedented high of ₹1,44,600 per 10 grams in New Delhi markets. The significant price movement represents a substantial gain from the previous trading session, highlighting the continued strength in both domestic and international gold markets.

Record-Breaking Price Movement

According to data from the All India Sarafa Association, gold of 99.9% purity experienced a remarkable appreciation during Monday's trading session. The precious metal's price performance demonstrates the robust demand and market dynamics currently influencing the gold sector.

Market Performance Analysis

The ₹2,900 increase from Friday's closing price of ₹1,41,700 per 10 grams represents a significant single-day movement in the precious metal's valuation. This 2.05% gain reflects the strong momentum that has been building in gold markets, with the latest price representing an all-time high for the metal in Delhi markets.

Global Market Influence

The record-breaking performance in domestic gold prices mirrors the strength observed in global gold markets. International market dynamics have provided substantial support to local pricing, with global trends translating into positive momentum for Indian gold markets. The alignment between domestic and international price movements indicates the interconnected nature of precious metal trading across different geographical markets.

Trading Session Highlights

Monday's trading session marked a significant milestone for gold investors and market participants. The achievement of the ₹1,44,600 price level represents not only a new record but also demonstrates the continued appeal of gold as an investment option. The price quoted by the All India Sarafa Association includes all applicable taxes, providing transparency for potential buyers and market participants.

Precious metals kicked off the week with remarkable strength as both gold and silver scaled fresh historic peaks, driven by robust safe-haven demand amid escalating geopolitical tensions and market uncertainty surrounding Federal Reserve leadership.

Gold Crosses ₹1.41 Lakh Milestone

February gold futures on MCX demonstrated exceptional momentum, opening higher at ₹1,39,600 per 10 grams compared to the previous close of ₹1,38,819. The metal continued its upward trajectory to establish a new record high of ₹1,42,340, representing a substantial gain of ₹3,521. This milestone marked the first time gold crossed the ₹1.41 lakh threshold on the domestic exchange.

International spot gold prices mirrored the domestic strength, reaching a fresh peak of $4,611.00 per ounce, marking a 2.20% increase from the previous close of $4,509.00.

Silver Rallies to ₹2.68 Lakh Territory

March delivery silver futures on MCX exhibited even more pronounced gains, surging ₹15,532 per kilogram to establish a new record high of ₹2,68,257. This performance built upon the previous week's 7.00% rally and contributed to an impressive 14.00% surge in the first nine trading sessions of 2026.

Globally, spot silver prices strengthened by 7.00% to reach $85.49 per ounce, extending January's remarkable 19.15% surge following a substantial 148.00% gain in 2025.

Market Outlook and Price Targets

Motilal Oswal, in its latest research report, maintains an optimistic outlook for both precious metals in 2026. The brokerage has established ambitious price targets while setting clear risk parameters for investors.

Safe-Haven Demand Drivers

Multiple factors contributed to the precious metals rally, creating a confluence of supportive conditions. Geopolitical tensions surrounding China-Japan trade relations and the US capture of Venezuela's leader heightened market uncertainty. Additionally, reports of a criminal investigation into Federal Reserve Chair Jerome Powell added to investor concerns about monetary policy stability.

Middle East tensions intensified as anti-government protests erupted in Tehran amid an internet shutdown and government crackdown. These developments reinforced the appeal of precious metals as safe-haven assets during periods of global uncertainty.

Dollar Weakness Supports Rally

The US dollar experienced its most significant decline in three weeks following news of the Federal Reserve investigation. The dollar index fell 0.50% to 98.67, ending a five-day winning streak and making dollar-priced commodities more attractive to international buyers.

Traders are closely monitoring the upcoming US consumer price index data for December, which represents one of the final key economic indicators before the Federal Reserve's monetary policy meeting scheduled for the end of January. The mixed signals from recent US jobs data have provided limited clarity regarding the future direction of interest rate policy.