Gold, silver steady as investors eye global and domestic cues

Gold and silver prices in India remained largely steady on Thursday (January 8) following earlier losses this week, reflecting a balance between global economic trends and domestic demand.

24K gold is trading at ₹1.38 lakh per 10 grams, while silver is at ₹2.51 lakh per kilogram.

Aateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, said, “Rupee appreciation weighed on local bullion sentiment, even as broader global cues remain mixed. The week ahead is data-heavy for the US, with ADP non-farm employment, non-farm payrolls, and initial jobless claims lined up, which could add volatility and direction to gold prices. For now, gold is expected to trade in a volatile range between ₹1.36 lakh and ₹1.41 lakh per 10 grams in the near term.”

In its Annual Equity Assessment for 2026, Client Associates, a multi-family office managing over $7 billion in assets, highlighted commodities, particularly gold and silver, as key portfolio diversifiers amid global uncertainties.

Nitin Agarwal, Head of Investment Research at Client Associates, said, “Equity markets in 2026 are likely to be driven less by broad-based rallies and more by selective opportunities anchored in fundamentals. Our assessment stresses the importance of asset allocation over market timing, with a focus on balancing growth participation with risk management to protect long-term purchasing power.”

The report noted that precious metals had performed strongly in 2025 due to a weaker US dollar, geopolitical tensions, and shifting monetary policies. Gold demand increased on central bank purchases, while silver saw a sharp rally amid supply constraints and growing industrial use.

Given the recent rally, Client Associates remains cautious on silver, advising against taking fresh positions at current levels due to an unfavorable risk-reward balance.

On the domestic front, India’s economy is expected to grow 6.8% in FY26, supported by strong consumption, robust corporate earnings visibility, and policy measures boosting household incomes. High-frequency indicators, including manufacturing and services PMIs, remain in expansionary territory, while GST collections suggest sustained economic activity.