After A Record 2025, Will Gold and Silver Prices Hit New Highs In 2026? Check Predictions

The year 2025 proved to be a remarkable one for precious metals, with both gold and silver recording substantial gains. At the start of the year, gold was priced at around Rs 71,500 per 10 grams. By the final Monday of 2025, it had surged to Rs 1.39 lakh per 10 grams, marking an impressive rise of nearly 80%. Silver performed even better, witnessing a massive rally of over 150%. Beginning the year at Rs 90,500 per kilogram, silver prices crossed Rs 2.32 lakh per kilogram by year-end. 

Going by the trend, analysts maintain a largely bullish outlook for 2026 for both gold and silver, driven by ongoing geopolitical tensions, inflation concerns, and strong industrial demand for the metals. Analysts predict that unless global uncertainties ease significantly, gold and silver could maintain elevated levels well into 2026, though corrections are also likely as markets stabilise.

Gold Outlook 2026:

Gold is projected to continue its upward trajectory, with most major banks forecasting prices to average between $4,500 and $4,700 per ounce, with the potential to reach $5,000 or more under certain conditions.

• Continued Central Bank Demand: Many central banks, especially in emerging markets, are expected to keep accumulating gold as a hedge against dollar volatility and geopolitical risk.
• Economic Uncertainty: If global economic slowdown fears persist or interest rates begin to fall, gold could benefit as a safe-haven asset.
• Inflation Hedge: While inflation has moderated in some economies, persistent price pressures may keep gold demand strong as a long-term store of value.

Silver Outlook 2026:

Silver is widely expected to outperform gold in percentage terms in 2026, driven by its dual role as a precious metal and a critical industrial metal with structural supply deficits.

• Industrial Demand: Silver stands to gain from rising demand in green technologies (solar panels, EVs, and electronics), especially as governments push for clean energy transitions.
• Undervalued Status: Compared to gold, silver is still considered undervalued, making it attractive for investors seeking higher upside potential.
• Investment Demand: Increased interest from ETFs and retail investors could further drive prices.
• Target Price Range: Silver may trade between 35 and 45 per ounce, with bullish scenarios pushing it higher.

Gold and Silver Demand in 2025

In 2025, gold and silver prices witnessed an unprecedented surge, reaching record highs amid global economic uncertainty, geopolitical tensions, and inflationary pressures. Investors turned to precious metals as safe-haven assets, driving demand and pushing prices to new peaks.

Gold prices crossed Rs 70,000 per 10 grams in India and soared past 2,400 per ounce in global markets, marking the highest level ever recorded. Similarly, silver prices also shot up dramatically, touching Rs 90,000 per kg domestically and breaching 30 per ounce globally, fueled by both investment and industrial demand.

Several factors contributed to this rally. Key among them were concerns over slowing global growth, interest rate fluctuations by major central banks, and continued conflicts in Eastern Europe and the Middle East, all of which created an environment of financial caution. Central banks across several countries also increased their gold reserves, adding further momentum to prices.

In India, a traditionally gold-loving nation, the surge affected both investment and jewellery markets. While buyers hesitated due to high prices, investors saw it as a strong hedge against currency volatility and inflation.