Unlike most global markets, Indian stock exchanges will remain open for trading on Thursday, January 1, 2026, even as international bourses shut for New Year celebrations. Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will operate as usual, allowing trading in equities, equity derivatives, and currency derivatives. Commodity markets to operate with limited hours Commodity trading will also continue on New Year’s Day, though with curtailed timings. The Multi Commodity Exchange (MCX) and the National Commodity & Derivatives Exchange (NCDEX) will be operational during the morning session from 9 am to 5 pm, while the evening session will remain closed, resulting in a shortened trading day, as per the reports. Global bourses shut for New Year Most major international stock markets will remain closed on January 1 due to New Year holidays. Exchanges in China, Hong Kong, Japan, Singapore, France, Germany, the UAE, the UK, and the US will not operate. China and Japan will also observe extended holidays, keeping their markets shut on January 2. Indian market holidays in 2026 Indian exchanges have released the official trading holiday calendar for 2026, under which markets will remain closed for 15 days, one more than in 2025. The first trading holiday of the year will be Republic Day on January 26, followed by closures on Holi, Good Friday, and Christmas, among others. The final holiday of the year falls on December 25. No Diwali closure Notably, there will be no Diwali trading holiday in 2026, as the festival falls on a Sunday, which is already a non-trading day, according to reports. What it means for investors While global markets pause, Indian equity and commodity markets will stay active on January 1, offering investors an opportunity to trade amid limited international participation. With the 2026 holiday calendar now out, traders can plan their investment strategies well in advance, as per reports. Here’s what will be open in Mumbai and India on January 1, 2026: Central government offices: Mostly open, as January 1 is a restricted holiday Banks: Most bank branches in Mumbai and Maharashtra are open Stock markets: BSE and NSE remain open for regular trading Retail shops and malls: Open; many offer New Year sales Restaurants and cafes: Open, often with extended hours Public transport: BEST buses, local trains, metro and taxis operate Emergency services: Hospitals, police and ambulances function normally Private offices: Open, subject to company policy Tourist attractions: Remain open
31 December,2025 03:47 PM IST |Gold prices edged lower in early trade on Wednesday, with the rate of 24-carat gold slipping by Rs 10 to Rs 1,36,190 per 10 grams. Silver prices also witnessed a decline, falling by Rs 100 to Rs 2,39,900 per kilogram. The price of 22-carat gold also eased by Rs 10, with 10 grams trading at Rs 1,24,840. Across major cities, 10 grams of 24-carat gold was priced at Rs 1,36,190 in Mumbai and Kolkata, while the rate stood higher at Rs 1,37,450 in Chennai. In the national capital, Delhi, the same quantity was selling at Rs 1,36,340. For 22-carat gold, prices in Mumbai, Kolkata, Bengaluru and Hyderabad stood at Rs 1,24,840 per 10 grams, while Chennai recorded a higher rate of Rs 1,25,990. In Delhi, 10 grams of 22-carat gold was priced at Rs 1,24,990. Silver prices remained uniform at Rs 2,39,900 per kilogram in Delhi, Kolkata and Mumbai. In Chennai, however, silver was trading at a higher level of Rs 2,57,900 per kilogram. Silver futures drop 4.6 pc after record rally this year Meanwhile, precious metals, especially silver, took a breather on the final trading day of the year on Wednesday, after a run‑up to record high followed by aggressive profit booking. Silver futures for March 2026 on MCX tumbled 4.63 per cent to Rs 2,39,395 per kg and gold futures for February 2026 slipped 0.51 per cent to Rs 1,35,973 per 10 grams in morning trade. Volatility remained elevated amid geopolitical tensions such as US strikes on Venezuela’s dock facilities and Chinese naval exercises that bolstered safe‑haven demand earlier in the week. The retreat came after sharp gains through most of 2025. Silver has gained 24 per cent in December and 135 per cent year-over-year, reflecting tight supply-demand fundamentals and robust safe-haven flows, said analysts. Domestic spot gold prices have surged over 76 per cent year-to-date and international gold prices over 70 per cent in 2025, on track for their strongest annual performance since 1979. Silver has support at Rs 2,45,150-Rs 2,42,780 while resistance at Rs 2,54,810-Rs 2,56,970 zones, he added. Aggressive central bank buying, expectations of US Fed rate cuts, concerns over impact of US tariffs, geopolitical tensions, and robust inflows into gold and silver ETFs drove the gold and silver prices this year. A recent report from Motilal Oswal Financial Services Ltd. said that persistent inventory drawdowns across key global hubs, weakening arbitrage between Shanghai and COMEX, and repeated delivery pressures have exposed the limited availability of deliverable silver. (With inputs from Agencies)
31 December,2025 10:56 AM IST | Mumbai | mid-day online correspondentThe rupee fell 15 paise to 89.90 against the US dollar in early trade on Wednesday, weighed down by foreign fund outflows and a muted opening in the domestic equity markets. Forex traders said foreign portfolio investors continue to offload Indian equities, which has been weighing on the Indian rupee in the last few months. At the interbank foreign exchange, the local unit opened at 89.89 against the dollar, then fell to 89.90, down 15 paise from its previous close. On Tuesday, the rupee rose 23 paise to close at 89.75 against the greenback. " US-India trade uncertainties continue with FPIs pulling out USD 16.5 billion from equities this year, adding to importer demand and exporter caution," said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. "With Inflation on the lower side rupee does not have the interest rate intensive to move up, and only consistent inflows from FPIs could bring it back to an appreciative mode. For the day, importers can buy the dips while exporters can sell at the top, nearing 90.00," Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally up by 0.04 per cent at 98.27. Brent crude, the global oil benchmark, was trading 0.08 per cent lower at USD 61.30 per barrel in futures trade. On the domestic equity market front, the Sensex opened 188.31 points higher at 84,863.39, while the Nifty rose 80.70 points to 26,009.55. Foreign institutional investors offloaded equities worth Rs 3,844.02 crore on Tuesday, according to exchange data. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
31 December,2025 10:43 AM IST | Mumbai (Maharashtra) | PTIGold prices edged lower in early trade on Tuesday, with the rate of 24-carat gold declining by Rs 10 to Rs 1,39,240 per 10 grams, according to market sources. Silver prices also softened, falling by Rs 100 to Rs 2,57,900 per kilogram. The price of 22-carat gold slipped by Rs 10 as well, with 10 grams trading at Rs 1,27,640. Across major cities, 24-carat gold was priced at Rs 1,39,240 per 10 grams in Mumbai and Kolkata, while Chennai recorded a higher rate of Rs 1,42,030. In Delhi, the precious metal was selling at Rs 1,39,390 per 10 grams. For 22-carat gold, prices in Mumbai, Kolkata, Bengaluru and Hyderabad stood at Rs 1,27,640 per 10 grams, while Chennai reported a higher price of Rs 1,30,190. In the national capital, 22-carat gold was trading at Rs 1,27,790 per 10 grams. Silver prices remained uniform at Rs 2,57,900 per kilogram in Delhi, Kolkata and Mumbai, while Chennai continued to quote a premium, with silver priced at Rs 2,80,900 per kilogram. Silver surges Rs 3,650 to hit record Rs 2.4 lakh per kg in Delhi markets Meanwhile, silver prices extended the record-setting rally for the fifth straight day on Monday, jumping Rs 3,650 to Rs 2,40,000 per kg in the national capital due to persistent buying by traders, according to the All India Sarafa Association. The white precious metal had closed at Rs 2,36,350 per kilogram on Friday. So far this year, silver prices have delivered remarkable returns, surging 167.55 per cent, or Rs 1,50,300, from Rs 89,700 per kg recorded on December 31, 2024. Meanwhile, gold of 99.9 per cent purity retreated from its record levels by declining Rs 500 to Rs 1,41,800 per 10 grams (inclusive of all taxes). It had climbed Rs 1,500 to hit a fresh record of Rs 1,42,300 per 10 grams in the previous market session. In the overseas markets, spot gold was trading lower by USD 69.67, or 1.54 per cent, at USD 4,462.96 per ounce. Spot silver retreated from lifetime highs to trade lower by USD 4.06, or 5.13 per cent, to USD 75.09 per ounce, pressured by profit-taking after an end-of-year rally that notched a fresh record of USD 83.97 per ounce. (With inputs from Agencies)
30 December,2025 10:41 AM IST | Mumbai | mid-day online correspondentThe rupee rose 3 paise to 89.95 against US dollar in early trade on Tuesday buoyed by a weaker greenback and strong IIP numbers. However, FII outflows, marginally higher crude oil prices, and a weaker opening in the domestic equity markets capped sharp gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 89.98 against the US dollar before rising to 89.95, up 3 paise from its previous close. The rupee depreciated 8 paise to close at 89.98 against the US dollar on Monday. "The RBI (on Monday) protected the top end of the curve while FPIs who sold equities also were dollar buyers, keeping bids on for the full day and taking it almost to 90 levels," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. Bhansali further cited strong Index of Industrial Production (IIP) data, which was released on Monday. "The IIP came at a 25-month high of 6.7 per cent for November against expectation of 2.5 per cent and last month growth of 0.5 per cent. The growth during the year has been 3.30 per cent against 2.70 per cent in the last month," he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally down by 0.03 per cent at 98.01. Brent crude, the global oil benchmark, was trading 0.03 per cent higher at USD 61.96 per barrel in futures trade, amid thin year-end trading and ongoing concerns about global demand. On the domestic equity market front, the 30-share sensitive index Sensex declined 209.32 points to 84,486.22 in early trade while the Nifty was down 63.25 points to 25,878.85. Foreign institutional investors offloaded equities worth Rs 2,759.89 crore on Monday, according to exchange data. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
30 December,2025 10:31 AM IST | Mumbai | PTIGold prices edged lower in early trade on Monday, with the rate of 24-carat gold slipping by Rs 10 to Rs 1,41,210 per 10 grams. Silver prices also declined, falling by Rs 100 to Rs 2,50,900 per kilogram. Similarly, 22-carat gold witnessed a marginal dip of Rs 10, with prices settling at Rs 1,29,440 per 10 grams. In major cities, the price of 24-carat gold stood at Rs 1,41,210 per 10 grams in Mumbai and Kolkata, while Chennai recorded a slightly higher rate of Rs 1,41,810. In the national capital, Delhi, 24-carat gold was priced at Rs 1,41,360 per 10 grams. For 22-carat gold, Mumbai, Kolkata, Bengaluru and Hyderabad reported uniform prices of Rs 1,29,440 per 10 grams, while Chennai saw rates at Rs 1,29,990. In Delhi, 22-carat gold was priced at Rs 1,29,590 per 10 grams. Silver prices remained unchanged across several metros, with one kilogram priced at Rs 2,50,900 in Delhi, Mumbai and Kolkata. Chennai, however, continued to command a premium, with silver priced at Rs 2,73,900 per kilogram. Silver retreats after record intraday high of over USD 84 per ounce Meanwhile, silver prices in global markets retreated sharply after touching fresh intraday records of USD 84 per ounce in the spot market on Monday. The white metal slipped as much as 8 per cent from its peak due to strong profit booking, snapping what could have been a seventh consecutive day of gains. March silver futures on MCX was trading up 4.22 per cent intraday (as of 10.10 am), at Rs 2,49,282 per kilogram. Globally, the futures had surged to an intraday high of USD 82.67 an ounce in early trade, up 7 per cent on top of the 11 per cent jump on Friday — the strongest single‑day gain since 2008. At those price levels, silver was extending a rally that has eclipsed even the historic supply squeeze seen in October. Analysts said that thin holiday trading amplified the sharp moves as subdued volumes exaggerated price swings. Tighter inventories and liquidity that can evaporate quickly is supporting the rally. Silver doesn't have a reserve like gold as the London gold market is underpinned by around USD 700 billion of bullion that can be lent out in the event of a liquidity squeeze, they reminded. Even as silver is up about 180 per cent so far in 2025, three trading sessions remain, putting it on track for its best annual performance since 1979 when gains exceeded 200 per cent. (With inputs from Agencies)
29 December,2025 10:44 AM IST | Mumbai | mid-day online correspondentThe rupee fell 5 paise to 89.95 against the US dollar in early trade on Monday amid foreign fund outflows and a muted opening in the domestic equity markets. Forex traders said foreign portfolio investors continue to offload Indian equities, which has been weighing on the Indian rupee in the last few months. At the interbank foreign exchange, the local unit opened at 89.95 against the dollar, down 5 paise from its previous close. On Friday, the rupee depreciated 19 paise to close at 89.90 against the US dollar. "FPIs flow into Indian equities, a sustained return of foreign buying would be supportive for the rupee in the coming year, which has been the worst-performing currency in the emerging market and Asian markets," said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent lower at 98.00. Brent crude, the global oil benchmark, was trading 0.92 per cent higher at USD 61.20 per barrel in futures trade. Meanwhile, External Affairs Ministry spokesperson Randhir Jaiswal has said that India and the US remain engaged in concluding a fair, balanced and mutually beneficial bilateral trade agreement. "This ongoing engagement helps anchor market confidence at a time of global uncertainty," CR Forex Advisors MD Amit Pabari said. Pabari further said, "The RBI's presence continues to act as a strong backstop. With spot interventions, liquidity tools and forward market management, the central bank has shown clear intent to prevent disorderly moves in the currency." On the domestic equity market front, the 30-share benchmark index Sensex rose 22.24 points to 85,063.69 in initial trade, while the Nifty was up 18.10 points to 26,060.40. Foreign institutional investors offloaded equities worth Rs 317.56 crore on Friday, according to exchange data. Meanwhile, India's forex reserves jumped by USD 4.368 billion to USD 693.318 billion during the week ended December 19, the Reserve Bank said on Friday. The overall kitty had increased by USD 1.689 billion to USD 688.949 billion in the previous week. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
29 December,2025 10:30 AM IST | Mumbai | PTIDabbing has been seen to be a very popular method of using cannabis concentrates; they see that in its growth in use, which is a result of the fact that it’s very efficient, flavored intensely, and also very quick acting. They see with traditional smoking methods, which depend on combustion, what is done is it is lit on fire with dabbing vaporization, which in turn gives a smoother and more controlled high. At the core of this is the dab rig, which is that specialized glass equipment that is made for the task of vaporizing the concentrates. What is very important for first-time users as well as for safety and enjoyment is to really get to know how to use properly. What Is a Dab Rig? A setup, which is a small-scale version of a bong, is designed for use with concentrates as opposed to dried leaves. Instead of a bowl, it features a heated element, also known as a nail or banger, which vaporizes waxes, shatters, rosin, or budder. The vapor is run through water before you inhale, which also helps to cool and purify it. Since concentrates are so much more potent than traditional flower, dabs are done at higher temps, and the rigs are made to produce vapor very efficiently. If you are a fan of which glass pieces to choose from or how various designs perform, this collection of glass bubblers is a great resource for you on how they are constructed and used. How this rig Works In a vaporizer, which they term a dab rig, control of heat and airflow is key. The nail or banger is brought to a very high temp with a blowtorch or an electric heating element, which is still raised to a point to vaporize the concentrate. Once it is at the right temp, it is allowed to cool a bit to prevent burning the material. At that point a small amount of concentrate is applied, which almost immediately vaporizes. This vapor makes its way through the water chamber, which serves to cool it down before it reaches the mouthpiece. The goal of it is to achieve vaporization, which doesn’t include combustion. If done right, this process also preserves flavor at the same time harshness is minimized. Temperature control is key in how smooth and flavorful profiles come out. Preparing the Rig for Use Before you use the rig, fit it properly first. Add water to it so that the percolation system is covered, but do not overfill, which in turn will cause water to get in the mouthpiece. Proper water levels also cool the vapor better, and they should allow for good airflow. Once the rig is filled with the proper water level, check that the nail or banger is secure and also that it is clean, which may also be affected by residue that can change taste and performance. Also beforehand, prepping the concentrate is a must. A dab tool is your best friend for precise application, which in turn reduces waste. Also for beginners only a little is needed. Heating and Applying the Concentrate Heating the nail or banger is a very important step in the process of learning to use. A torch is also used to evenhandedly heat the surface until it reaches the right temp. Once heated, the surface should be allowed to cool off for a short while. If you apply concentrate to an overheated nail, you will burn the nail, which in turn will produce harsh vapor and reduce flavor. Once the nail has cooled down to the right temp, the concentrate is applied via a dab tool. As the material comes in contact with the heat, it vaporizes almost immediately. Inhaling slowly and at the same time using a carb cap for the nail is to control the air flow, which in turn produces better vapor. Understanding Temperature Control Temperature is a key element in what you get out of your dab. At lower temps they see smoother vapor, which brings out better flavor; at higher temps you get dense vapor but may catch your throat. Many users go for the lower temp hits, which in turn preserve terpenes that are responsible for the smell and taste. Electronic nails, also known as e-nails, provide precise temperature control and go without the use of a torch. Though not required, they do make the process easier for those that value consistency. Safety Considerations When Using a Dab Rig Using a great deal of heat is an element of using the device, which is why safety must be at the forefront. Heated nails and bangers may stay very hot for long periods of time and must never be touched. Torches should be handled with care and used in well-ventilated areas away from flammable materials. Because these are very potent, start out with very small doses. Overconsumption may cause issues in particular for first-time dabbers. For a better experience, stay hydrated and take breaks between sessions. Cleaning and Maintaining a Dab Rig Regular maintenance is key to a dab rig’s performance and taste. Over time residue will affect air flow and flavor. After each use, run the rig in warm water, which helps to prevent the buildup. Also, full in-depth cleanings are done at periodic intervals, which keep the pieces clear and functioning. The nail and banger should also see frequent action. After each use it is recommended to clean out the residue, which in the long run will improve consistent performance and also will put an end to that off flavor. Final Thoughts on Using a Dab Rig Learning which features of the equipment to use correctly will greatly improve your dab experience. From the function of each part of the device to setting the right temp and keeping it clean, each element plays a role in producing smoother vapor and better flavor. With the right technique and care, your dabbing can be very efficient and enjoyable. For first-time users of concentrates as well as for those looking to improve their current setup, a study of the basic elements will put you in a position to make informed decisions and enjoy a more refined experience.
28 December,2025 11:28 AM IST | THANE | mid-day online correspondentGold prices extended their winning streak for the fourth straight session this week, hitting fresh record highs in both domestic and global markets as investors continued to rush towards safe-haven assets amid expectations of US interest rate cuts and rising geopolitical tensions. While the yellow metal continued to incline in the commodity market, the prices of gold in Mumbai also observed a decent hike. The yellow metal in Mumbai on Saturday has been priced at Rs 1,40,170 for 10 grams of 24-carat gold. As reported by news agency IANS, gold on the Multi Commodity Exchange (MCX) in February option chain climbed another 1 per cent to a new all-time high of Rs 1,39,550 per 10 grams, moving closer to the Rs 1.4 lakh mark. This price inclination marked the fourth consecutive day of record highs for gold. Prices have risen about 10 per cent so far this month and are up a massive 81 per cent in 2025. Gold Prices in Mumbai The prices of gold in Mumbai experienced a decent incline during the Christmas and New Year. With prices crossing Rs 1.40 lakh mark, the demand for the yellow metal is still on rise. On Saturday, 24-carat gold in Mumbai was priced at Rs 1,40,170 for 10 grams. Whereas, the price of 22-carat gold was recorded at Rs. 1,28,500. Gold prices in Delhi The national capital also experienced a decent hike in gold prices since last week. The price of 24-carat gold in Delhi was recorded at Rs 1,40,310 for 10 grams. Whereas the 22-carat gold in Delhi was priced at Rs 1,28,640 for 10 grams. Silver prices Along with gold, silver prices also remained on a strong upward path. March silver futures on MCX surged by Rs 11,457 per kilogram, or 5.1 per cent, to touch a historic high of Rs 2,35,247, reported IANS. With this move, silver’s gains for the year have climbed to an impressive 167 per cent. The rally was equally strong in international markets. Spot gold rose to a fresh record high of USD4,530.60 per ounce, while spot silver crossed the USD75 per ounce mark for the first time, hitting USD75.64. Other precious metals joined the rally as well. Spot platinum jumped 9.3 per cent to USD 2,465.20 per ounce after touching an all-time high earlier in the session. All major precious metals are headed for weekly gains, with platinum posting its strongest weekly rise on record. Analysts say platinum and palladium, which are widely used in automotive catalytic converters, have surged due to tight supply conditions, uncertainty around tariffs, and some investment demand shifting away from gold. (With inputs from IANS)
27 December,2025 12:37 PM IST | Mumbai | mid-day online correspondentThe rupee depreciated 23 paise to 89.94 against the US dollar in early trade on Friday, weighed down by foreign fund outflows and recovery in crude oil prices. Forex traders said a negative trend in domestic equities, dollar demand from importers, and trade deal uncertainty further dented investor sentiment. At the interbank foreign exchange, the local unit opened at 89.84 against the dollar but lost ground to trade at 89.94, down 23 paise from its previous close. On Wednesday, the rupee pared initial gains and settled for the day lower by eight paise at 89.71 against the US dollar. Forex and equity markets were closed on Thursday for Christmas. After strengthening to the 89.00 level last week, the rupee has again started to weaken in holiday-thin trade, with FPIs continuing to sell equity and buy dollars after a brief pause, said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.08 per cent lower at 97.89. Brent crude, the global oil benchmark, was trading 0.16 per cent higher at USD 62.34 per barrel in futures trade. On the domestic equity market front, the 30-share benchmark index Sensex declined 183.42 points to 85,225.28 in early trade, while the Nifty dipped 46.45 points to 26,095.65. Foreign institutional investors offloaded equities worth Rs 1,721.26 crore on Wednesday, according to exchange data. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
26 December,2025 11:53 AM IST | Mumbai | PTIGold prices edged up marginally in early trade on Friday, while silver also registered a modest gain across major Indian cities. The price of 24-carat gold rose by Rs 10 to Rs 1,39,260 per 10 grams. Similarly, 22-carat gold witnessed an increase of Rs 10, with prices settling at Rs 1,27,660 per 10 grams. In Mumbai and Kolkata, 24-carat gold was priced at Rs 1,39,260 per 10 grams, while the yellow metal was slightly higher in Chennai at Rs 1,39,870. In the national capital, Delhi, 24-carat gold was trading at Rs 1,39,410 per 10 grams. Prices of 22-carat gold remained uniform at Rs 1,27,660 per 10 grams in Mumbai, Kolkata, Bengaluru, and Hyderabad. In Chennai, the rate stood at Rs 1,28,210, while Delhi recorded a slightly higher price of Rs 1,27,810 per 10 grams. Silver prices also saw an uptick, rising by Rs 100 to Rs 2,34,100 per kilogram in Delhi, Mumbai, and Kolkata. In Chennai, silver was trading higher at Rs 2,45,100 per kilogram. Gold and silver bring cheers for investors, 2026 outlook remains strong In a year marked by heightened global uncertainty, precious metals delivered exceptional returns for investors, with silver emerging as a surprise winner. Silver prices surged by more than 137 per cent -- outperforming gold -- which also posted a strong gain of around 68 per cent this year. With equity markets facing volatility, both metals strengthened their position as preferred safe investment options, but silver clearly outshone all traditional choices. Gold’s strong performance was supported by geopolitical tensions, inflation concerns, and expectations of interest rate cuts by the US Federal Reserve. A major driving force behind gold’s rally was steady buying by global central banks. For three consecutive years -- 2022, 2023 and 2024 -- central banks have purchased more than 1,000 tonnes of gold each year. Alongside this, global investors continued to invest through gold ETFs, using them as a safe place to park funds. Big global banks have turned increasingly bullish on gold’s outlook. Goldman Sachs has raised its 2026 year-end gold price target to USD 4,900 per ounce, citing strong central bank demand and ETF inflows. Deutsche Bank has also upgraded its outlook, projecting gold prices at USD 4,450 per ounce in 2026. Silver’s rally, however, has been driven by more than just safe-haven demand. Strong industrial usage has played a crucial role. Growing demand from sectors such as solar power, electric vehicles, and electronics has significantly increased silver consumption. At the same time, supply constraints have tightened the market, pushing prices sharply higher. This dual role -- as a precious metal and an industrial input -- has helped silver deliver more than double the returns of gold in 2025. Looking ahead, experts believe the positive momentum in silver could continue into 2026. Gold’s outlook also remains positive for 2026. Continued central bank buying, possible US rate cuts, and ongoing geopolitical risks are expected to support prices. Meanwhile, both metal’s prices climbed to new record highs on the MCX on Wednesday morning, helped by a weak US dollar and expectations that the US Federal Reserve may cut interest rates further. Gold futures for February rose 0.42 per cent to touch an all-time high of Rs 1,38,469 per 10 grams. Silver futures for March jumped nearly 2 per cent to hit a fresh record of Rs 2,23,742 per kg. In the global market, gold prices crossed the USD 4,500 per ounce level for the first time. The rise was driven by strong demand for safe-haven assets as investors expect more interest rate cuts by the US Federal Reserve next year. (With inputs from Agencies)
26 December,2025 10:20 AM IST | Mumbai | mid-day online correspondentADVERTISEMENT
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