Gold & silver to stay firm as traders brace for tariff verdict, Fed rate decision

New Delhi: Gold and silver prices are expected to stay firm next week as traders brace for the US Supreme Court’s hearing on trade tariffs and the Federal Reserve’s upcoming interest rate decision, analysts said.

The focus will also shift to the Union Budget 2026, to be presented by Finance Minister Nirmala Sitharaman on February 1, which could influence domestic bullion sentiment through changes in import duties and fiscal measures, they added.

On the Multi Commodity Exchange (MCX), gold futures surged Rs 13,520 or 9.5 per cent, over the past week. It hit an all-time high of Rs 1,59,226 per 10 grams on Friday.

Meanwhile, silver registered a steeper rally, soaring by Rs 46,937, or 16.3 per cent, during the week to breach the Rs 3 lakh per kilogram mark for the first time ever.

In the international market, gold futures on Comex gained $384.3, or 8.4 per cent, last week, touching a record of $4,991.40 per ounce on Friday.

Meanwhile, silver prices gained $12.7, or 14.4 per cent, to cross the historic $100 per ounce mark for the first time, before settling at $101.33 per ounce.