Gold and silver prices continued to trade near record levels on Monday, December 15, supported by a weaker US dollar and easing bond yields. However, investor sentiment remained cautious ahead of key US labour market data and further clarity on the US Federal Reserve’s policy outlook.
While gold edged higher, silver consolidated after a sharp rally last week that pushed the metal to fresh lifetime highs.
2025 Turns into a Standout Year for Precious Metals
Gold and silver are emerging as two of the most closely watched asset classes heading into 2026. Following a powerful rally this year, gold has gained nearly 60%, while silver has surged close to 100%, making 2025 one of the strongest years for precious metals in more than a decade.
On the Multi Commodity Exchange (MCX), gold was trading around ₹1,35,330 per 10 grams, up 1.22% by early afternoon. Silver was priced at ₹1,97,451 per kg, registering a 2.39% gain during the session.
Despite recent volatility, the broader trend for both metals remains positive.
Fed Rate Cut and Weak Dollar Support Prices
Rahul Kalantri, VP – Commodities at Mehta Equities Ltd, said gold and silver closed higher last week despite sharp intraday swings. Gold hovered near two-month highs, while silver touched record levels in global markets after the US Federal Reserve cut interest rates by 25 basis points.
He added that the dollar index slipping to near two-month lows provided additional support to bullion prices. Silver briefly hit lifetime highs in both domestic and international markets before witnessing some profit booking.
According to Kalantri, while short-term volatility may persist, both metals are likely to find support at key technical levels.
Gold Outlook: Bullish Structure Intact
Market experts remain optimistic about gold’s medium-term outlook. Ponmudi R, CEO of Enrich Money, said bullion markets opened with a strong tone and continue to display relative strength.
“COMEX gold is holding firmly above $4,350, maintaining higher lows within a rising channel. The earlier breakout above $4,303 has now turned into a strong support zone, reinforcing bullish momentum,” he said.
As long as gold stays above these support levels, analysts believe the uptrend remains intact.
Silver Continues to Outperform Gold
Silver has once again outpaced gold, supported by a combination of industrial demand, supply constraints, and a softer dollar. Ponmudi noted that silver is showing strong momentum in both global and domestic markets.
MCX silver remains in a bullish phase as long as prices stay above key support levels. While short-term price swings are expected, the broader structure suggests further upside potential.
Buy Now or Wait? What Should Investors Do
Market participants are now closely watching:
Upcoming US economic data
Dollar index movements
Signals from global central banks
These factors will guide near-term price action.
Investor takeaway:
Long-term investors may consider accumulating gold and silver on dips rather than chasing prices at record highs.
Short-term traders should be cautious, as sharp corrections and profit booking are possible after such strong rallies.
Silver, due to higher volatility, may offer stronger returns—but also carries higher risk.
For now, precious metals continue to enjoy strong fundamental and technical support, keeping investor interest firm as the year draws to a close.
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