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Updated Mar 2, 2026 02:17 PM IST
Gold, Silver price outlook 2026: Gold and silver gain amid geopolitical tensions, driven by safe-haven demand, US data, central bank buying, and investment inflows. Analysts predict further upside, with silver near USD 130 and gold up to USD 6,180.
Gold, Silver price outlook 2026: The recent surge in geopolitical conflicts around the world has brought gold and silver back into the spotlight, boosting optimism about the outlook for precious metals due to their safe-haven appeal.
In the international market, as of 13:17 IST, spot gold was up 2.5 per cent, or USD 134, at USD 5,413.42. Prices had earlier touched an intraday high of USD 5,419.32, leaving gold just USD 176 shy of its record high of USD 5,595.46, reached earlier this year.
Silver mirrored this trend, gaining 2.3 per cent, or USD 2.13, to trade near USD 96. However, silver remained significantly below its record high of USD 121.67, hit on January 29.
The domestic market followed a similar pattern, with gold futures on the Multi-Commodity Exchange (MCX) rising 4.5 per cent to Rs 1,69,399. Silver futures also advanced 3.6 per cent, or Rs 10,102, to reach Rs 2,85,010.
Will record highs be reached?
This raises the question: Does the current bull run in precious metals pave the way for gold and silver to reach their record highs?
According to Ajay Kedia, Founder and Director of Kedia Advisory, "There is a very high probability of both metals breaking their recent records in the near term."
Echoing a similar view, Alex Ebkarian, COO at Allegiance Gold, said, "Gold is already trading near record territory, which historically increases the probability of retests and breakouts during prolonged geopolitical cycles."
However, Jigar Trivedi, Senior Research Analyst for Commodity & Currency at IndusInd Securities Ltd, noted, "In rupee terms, we may not see an all-time high; however, the undertone is likely to remain bullish in the bullion segment."
Factors driving the bull run
The record run in precious metals will not only be due to bullion's role as a safe-haven asset but could also be influenced by several underlying factors:
- US Data: Recent mixed inflation data and downward revisions in jobs data have supported bullion. Investors worldwide will continue to watch US economic data, which could further hint at gold’s direction.
- Investment Demand: Rising demand from avenues such as ETFs tends to push gold prices higher, as increased buying interest raises its market value.
- Central Bank Buying: Central banks purchase gold to diversify reserves and strengthen financial stability, as gold holds long-term value and is not tied to any single currency.
- Oil/Crude: Crude oil prices can also impact gold. Crude and gold often move together because rising crude prices boost inflation and uncertainty, increasing gold’s appeal as a safe‑haven asset.
"Here’s what I’m watching: oil, geopolitical response from China, downward revisions in jobs data, stressed earnings from banks, inflows of capital to commodity ETFs from retail and institutional investors, and central banks continuing to accumulate gold. Those aren’t emotional signals; they’re structural ones," said Alex Ebkarian.
Silver Outlook 2026
Gold will not be the only metal to benefit from the ongoing bull run; silver is also expected to perform strongly in the near term, following the significant dip it experienced in late January.
Analysts project silver could reach up to USD 130 soon, representing an upside of nearly 35 per cent from the current price level and about 7 per cent above its record high.
Analyst predictions for silver:
| Analyst | Prediction (USD/oz) |
| Ajay Kedia, Founder & Director | 110 |
| Alex Ebkarian, COO, Allegiance Gold | 100 -130 |
| Jigar Trivedi, Senior Research Analyst, IndusInd Securities Ltd | 100–105 |
| Anuj Gupta, Commodity Market Expert | 100–110 |
Gold Outlook 2026
Similarly, gold is expected to continue its upward trajectory and could reach up to USD 6,180 in the near term. This reflects an upside of nearly 14 per cent from the current price level and over 10 per cent above the record high of USD 5,595.46.
Analyst predictions for gold:
| Analyst | Prediction (USD/oz) |
| Ajay Kedia, Founder & Director | 6,180 |
| Alex Ebkarian, COO, Allegiance Gold | 5,600 -6,000 |
| Jigar Trivedi, Senior Research Analyst, IndusInd Securities Ltd | 5,450–5,500 |
| Anuj Gupta, Commodity Market Expert | 5,500–5,600 |
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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