Gold and Silver Prices Rise Again: Silver Crosses ₹2.5 Lakh, Gold Also Gains on MCX
New Delhi | February 3, 2026 | DeccanLive.com
After a steep fall over the past few days, gold and silver prices have started rising again. On Tuesday, silver prices jumped sharply in the futures market, crossing the ₹2.5 lakh per kg mark once again.
On the Multi Commodity Exchange (MCX), silver prices rose by more than 6% to reach ₹2,50,436 per kg. Gold prices also showed strength. MCX gold gained around 3% and moved up to ₹1,48,310 per unit.
It may be noted that silver prices had earlier fallen nearly 46% from their recent peak, making this rebound significant for investors.
Rise Seen in International Markets Too
The positive trend was not limited to India. International markets also witnessed a strong recovery.
- Spot gold prices rose by 4.2% to reach $4,855 per ounce
- Earlier on Friday, spot gold had fallen by 4.8%
- Spot platinum prices also increased by around 3%
Trump’s Tariff Relief Boosts Market Sentiment
Market sentiment improved after US President Donald Trump announced a major relief on tariffs. On Monday, he reduced tariffs on Indian goods from 50% to 18%.
This sudden development boosted confidence in the commodity market. Talks between India and the US regarding a trade deal have been going on for several months, and this move has raised hopes of better trade relations.
Will the Price Rise Continue?
According to Harish V, Head of Commodity Research at Geojit Investments, gold and silver prices may continue to remain strong due to global uncertainty and buying by central banks.
He explained that the earlier fall came after heavy buying. Over the past one month, silver prices had jumped nearly 60%, while gold prices rose about 20%, which led to profit booking.
Disclaimer: This is not investment advice. Gold and silver prices keep changing due to many factors. The views shared by experts are their personal opinions.
