MCX Gold Tops Rs 1.43 Lakh/10g, Silver Hits Rs 2.9 Lakh/kg; Nagpur-Maharashtra Rates and Investor Tips
Gold and silver prices in India have soared to unprecedented levels, fueled by global uncertainties keeping the bullish momentum intact. Ahead of Makar Sankranti festivities, demand has propelled MCX gold to over Rs 1,43,200 per 10 grams, while silver touched a lifetime high of Rs 2.90 lakh per kg. Markets across Maharashtra, including Nagpur, reflect this surge, with investors and jewelers staying vigilant.
While this rally impacts everyday buyers, long-term investment appeal grows stronger. Global factors like anticipated US Fed rate cuts, geopolitical tensions, and inflation fears position these metals as safe havens. A weakening rupee against the dollar has spiked import costs, with gold jumping Rs 5,150 in the last five days alone.
Latest Price Snapshot
On January 15, 2026, 24-carat gold trades at Rs 14,320 per gram nationwide, equating to Rs 1,43,200 for 10 grams. Silver stands at Rs 2,90,000 per kg or Rs 290 per gram, marking a 21.85% weekly gain. In Nagpur, 24-carat gold is Rs 14,046 per gram, 22-carat at Rs 12,875, and silver at Rs 3,070 for 10 grams per Goodreturns data.
Prices align in Mumbai, Delhi, Kolkata, with Hyderabad and Chennai seeing silver at Rs 307 per 10 grams. Silver has risen from Rs 2,38,000 to Rs 2,90,000 this January, posting 27.13% growth in December 2025. Gold delivered 5.16% monthly returns, up 81.87% yearly.
Driving Global and Local Factors
Several triggers fuel this record rally. Globally, US Federal Reserve rate cut expectations and inflation control uncertainties boost gold’s allure. Geopolitical strife in the Middle East and US trade policy shifts under the Trump administration add momentum.
In India, rupee depreciation past 90/USD raises import expenses. Festive demand, especially Makar Sankranti jewelry buys, surges alongside central bank gold acquisitions in emerging markets. Silver benefits from industrial demand in solar panels, EVs, electronics, and green energy, amid supply shortages.
Maharashtra and Madhya Pradesh markets feel the heat, with Nagpur jewelers noting cautious bulk buys amid rising investments.
Nagpur and Maharashtra Market Update
In Nagpur today, 24-carat gold is Rs 14,046/gram, 22-carat Rs 12,875/gram, 18-carat Rs 10,534/gram. Silver: Rs 290/gram, Rs 2,900/10 grams, Rs 2,90,000/kg. Pune, Mumbai, Aurangabad mirror this, with Makar Sankranti demand up 20%.
Indore and Bhopal in Madhya Pradesh hit records too, driven by local industries boosting silver needs. Jewelers struggle with inventory amid the spike.
Investment Opportunities and Risks
Buy gold-silver at peaks? Experts advise long-term holds, forecasting gold at Rs 1,60,000-1,65,000/10g and silver Rs 3,25,000-3,50,000/kg in 2026. Opt for gold ETFs or Sovereign Gold Bonds for short-term dips.
Risks include corrections—silver crashed Rs 21,000 in December 2025. Still, uncertainty favors these as hedges. MCX futures or digital gold suit local investors.
Future Trends and Predictions
2026 outlook remains bullish. Institutions like J.P. Morgan predict further gold gains. Wedding season and pre-Diwali demand will amplify. Silver industrial use could rise 167%.
US economic stability or rupee strength may pressure prices, but persistent uncertainty sustains the rally. Track trends on platforms like HappenRecently for timely investments.
