Gold and silver hit record highs on MCX amid trade-war tensions. Check latest city-wise rates for Delhi, Mumbai, Kolkata, Chennai (21 Jan 2026).
Gold and silver futures continued their upward surge on the Multi Commodity Exchange (MCX) on Wednesday, January 21, 2026, amid escalating global trade tensions. The spike comes after President Trump announced increased tariffs on select European nations opposing U.S. influence over Greenland, raising proposed duties from 10% in February to 25% by June.
MCX Gold Prices Soar
The February 5 gold contract opened at Rs 1,51,575 per 10 grams, marking a gain of Rs 1,010 from the previous close of Rs 1,50,565. During trading, gold futures hit an all-time high of Rs 1,58,339, representing a jump of Rs 7,774 or 5.16%. By mid-session, the precious metal was trading at Rs 1,57,591, up Rs 7,026 or 4.67%.
The April 2026 gold contract also surged, reaching Rs 1,65,534 per 10 grams, a gain of Rs 7,978 or 5.06%, with a business turnover of 5,896 lots.
Silver Futures Jump
Silver futures for March 5, 2025, started the day in the red but quickly rebounded to touch a new high of Rs 3,34,840 per kilogram, up Rs 11,168 or 3.45%. The latest MCX data shows silver trading at Rs 3,34,116, up Rs 10,444 or 3.23%.
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International Gold Prices
On the COMEX, gold gained 2.13% to trade at approximately USD 4,867.4 per troy ounce. The spot price at 10:40 AM stood at USD 4,865.87 per ounce, a rise of USD 104.74 or 2.20%.
City-Wise Gold Rates (21 January 2026)
Delhi: 24-carat gold at Rs 1,54,950/10g, 22-carat gold at Rs 1,42,050/10g
Mumbai: 24-carat gold at Rs 1,54,800/10g, 22-carat gold at Rs 1,41,900/10g
Kolkata: 24-carat gold at Rs 1,54,800/10g, 22-carat gold at Rs 1,41,900/10g
Chennai: 24-carat gold at Rs 1,55,460/10g, 22-carat gold at Rs 1,42,500/10g
City-Wise Silver Rates (21 January 2026)
Delhi: Rs 3,25,000/kg
Mumbai: Rs 3,25,000/kg
Kolkata: Rs 3,25,000/kg
Chennai: Rs 3,40,000/kg
Market Impact and Outlook
The recent surge in gold and silver is attracting investors seeking safe-haven assets amid global trade uncertainties. While traders and investors are benefiting from strong returns, rising prices may impact retail buyers, particularly during the wedding season, as higher rates could reduce jewelry purchases.
Analysts suggest that both gold and silver will likely continue to experience volatility in the coming weeks, with geopolitical tensions and global market dynamics acting as key price drivers.
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