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Silver futures ended their five-day record-breaking rally and declined by ₹4,027 to ₹2,87,550 per kg on Friday (January 16, 2026), while gold prices slipped to ₹1,42,601 per 10 grams as investors booked profits tracking weak global trends and a stronger U.S. dollar.
On the Multi Commodity Exchange (MCX), silver futures for March delivery declined by ₹4,027, or 1.38%, to ₹2,87,550 per kilogram in a business turnover of 9,890 lots. The white metal had touched an all-time high of ₹2,92,960 per kilogram on Thursday (January 15, 2026).
Commodities trading on the MCX remained shut during the morning session on Thursday (January 15) due to civic elections in Maharashtra and later resumed trading in the evening session.
Gold futures also witnessed profit-taking by the traders on the domestic bourse. The yellow precious metal for the February contract fell ₹520, or 0.36%, to ₹1,42,601 per 10 grams in 14,194 lots.
“Gold and silver witnessed sharp volatility on Friday (January 16). Weaker-than-expected U.S. weekly jobless claims strengthened the U.S. dollar, while President Donald Trump’s softer stance on Iran reduced safe-haven demand for precious metals,” Rahul Kalantri, Vice-President of Commodities, Mehta Equities Ltd, said.
In the international market, both silver and gold corrected during Asian trading hours. On the Comex, silver for the March contract slipped $1.93, or 2.10%, to $90.41 per ounce. It had touched a record of $93.56 per ounce on Wednesday (January 14).
Gold futures for February delivery also dropped by $21.9, or 0.47%, to $4,601.8 per ounce. The yellow metal had hit an all-time high of $4,650.50 per ounce on January 14.
“Recent U.S. macroeconomic data has kept expectations of Federal Reserve rate cuts on hold for the first half of the year, pushing the dollar index to multi-week highs and creating near-term headwinds for bullion prices,” Mr. Kalantri added.
Published – January 16, 2026 12:14 pm IST
