Gold, Silver Soar in India: What's Driving the Rally?

• Gold and silver prices rebounded sharply in India on Friday, January 2, driven by firm spot demand and a softer dollar.
• MCX gold futures for Feb 5, 2026, rose ₹795 (0.59%) to ₹1.36 lakh per 10 grams.
• Silver futures for Mar 5, 2026, outperformed, gaining ₹6,133 (2.6%) to ₹2.42 lakh per kg.
• The rally is fueled by global momentum, geopolitical tensions, expectations of lower US interest rates, and central bank buying.
• US Federal Reserve minutes reinforced expectations of potential monetary policy easing if inflation cools.

Why It Matters: Precious metals rally in India on global cues, geopolitical risks, and US interest rate expectations.