Gold and silver opened strongly today, trading at record highs and maintaining a solid bullish trend. COMEX Gold is near its all-time high around $4,425/oz, with the broader breakout still firmly in place. A sustained daily close above the $4,400 level could open the path toward the $4,500–$4,600 range. According to analyts, the uptrend is supported by geopolitical uncertainty, steady central-bank buying, and ongoing safe-haven demand. On the downside, the $4,350–$4,300 area remains an important support level. Despite some small intraday swings, prices stay high, indicating underlying strength built over recent weeks.

"Gold is easing slightly but remaining well-supported as safe-haven demand stays intact amid ongoing global uncertainty," said Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures. "The mild dip appears more technical than sentiment-driven, with buyers still showing interest at lower levels. Investors seeking stability may continue to view gold as a defensive allocation, especially during periods of market volatility."

Ponmudi R, CEO of Enrich Money said, "A combination of macro and structural factors is driving the recent rally in gold. Heightened geopolitical risks continue to push investors toward defensive assets, while a relatively weaker US dollar, along with sustained central-bank purchases and steady investor inflows, has reinforced gold’s role as a long-term hedge, contributing to one of its strongest annual performances in decades."

In the domestic market, MCX Gold futures are consolidating near lifetime highs around ₹1,36,138 while continuing to respect the rising channel. "Dips are being bought into, highlighting strong underlying demand. A decisive close above ₹1,36,000 could accelerate the up-move toward ₹1,37,000–₹1,40,000, supported by favourable rupee dynamics and continued safe-haven interest. Immediate support is placed in the ₹1,34,000–₹1,33,000 zone," said Ponmudi R.

On the other hand, silver continues to excel within the precious metals market. COMEX Silver recently exceeded $69.3/oz to reach new all-time highs. Although minor pullbacks are visible, the overall upward trend remains strong. Tight supply and high industrial demand continue to support the long-term bullish cycle, with support levels around $66.5–$64.0. On the upside, renewed momentum could drive prices toward the $70–$75 range.

"MCX Silver is also trading near lifetime highs above ₹2,14,583, showing mild consolidation after an extended rally. As long as prices hold above the ₹2,10,000 mark, the long-term bullish structure remains intact. The ₹2,05,000–₹2,02,000 zone acts as a strong demand area, while resistance is placed between ₹2,15,000 and ₹2,20,000. A decisive breakout above this band could trigger fresh highs," said Ponmudi R.

Silver’s strength is driven by rising industrial demand from solar power, electric vehicles, and electronics, combined with ongoing global supply shortages. Ponmudi R says, "Investor participation has increased as silver offers leveraged exposure to the broader precious-metal cycle. Its dual role as both an industrial and precious metal is boosting momentum in the current market environment."

Silver has dipped negligibly but still maintains the ₹2-lakh mark highlighting the strength of the recent rally. "The strong price reflects improving industrial demand expectations alongside broader momentum in precious metals. Given the higher volatility at these levels, investors with a higher risk appetite may prefer silver for growth potential, while conservative investors may lean towards gold for steadier returns," said Kamboj.