Gold Market Recap: All-Time Highs Across India on 26 December 2025 Amid Fed Rate Cut Hopes

The Indian gold market witnessed an extraordinary day on December 26, 2025, as both gold and silver prices soared to fresh, unprecedented record highs. This significant rally was mirrored on global exchanges, with the precious metals market buzzing with activity and strong upward momentum. The sharp increase has put gold firmly above the ₹1.39 lakh mark per 10 grams on the Multi Commodity Exchange (MCX), while global spot prices surpassed the $4,500 per ounce threshold, indicating a robust international trend.

On the domestic front, MCX gold futures recorded a new peak of ₹1,39,550 per 10 grams, reflecting the intense buying interest. Silver, not to be outdone, also achieved a lifetime high, with prices climbing past ₹2.32 lakh per kilogram on MCX, and experiencing significant jumps of ₹11,450 per kg or hikes of ₹6,000 in various reports. This synchronized surge meant that 18K, 22K, and 24K gold prices in major Indian cities like Delhi, Mumbai, Bengaluru, and Chennai all saw substantial increases, pushing the cost of acquiring physical gold for jewelry shoppers and investors to new territories. Globally, silver also saw a significant surge, reaching $75.

The primary catalyst behind this powerful rally appears to be the intensifying expectations of interest rate cuts by the US Federal Reserve. Hopes for a more accommodative monetary policy from the Fed have historically boosted the appeal of non-yielding assets like gold and silver, making them more attractive to investors seeking safe havens or hedging against potential economic shifts. This sentiment is driving forecasts for continued price strength, not just for the remainder of this week but potentially well into the next year.

For Indian investors and jewelry shoppers, the current scenario presents a crucial question: "Buy or Wait?" While prices are at all-time highs, market analysts are widely suggesting that the upward trend might persist. Experts are advising investors to maintain their allocation to gold and silver in 2026, viewing these precious metals as essential components of a diversified portfolio amidst ongoing global economic uncertainties. However, some caution is also being sounded, particularly for silver, with discussions around potential profit-taking after its record-breaking bull run, as indicated by the gold-silver ratio. As the year draws to a close, the outlook remains bullish, but careful consideration of market dynamics is prudent for those looking to make moves.