Gold and Silver Prices in 2026: Should You Buy Now or Wait?

New Delhi: Gold and silver have posted strong gains in 2025, and market watchers now expect the metals to stay in focus next year too. After hitting fresh highs this year, analysts say global demand and economic uncertainty could keep prices elevated in 2026.

A recent market outlook says both gold and silver are likely to maintain a positive trend into the coming year. Strong demand from investors and central banks is a key reason for this expectation. 

International gold prices have reached record levels in December 2025, pushing above US$4,300 per ounce. Experts point to several drivers behind this rally, including safe-haven buying, geopolitical tensions, season-linked demand in India, and currency shifts.

How strong could gold be next year?

Analysts from major financial firms have offered mixed but generally upbeat forecasts. Some top banks and commodity researchers see gold rising further in 2026, with forecasts ranging up to around US$4,800 - $5,000 per ounce by year-end. 

Morgan Stanley, for example, expects slower but steady gains, driven by anticipated interest-rate cuts and central bank purchases. Meanwhile, other institutions say continued strong demand could lift prices higher than many expect. 

Market watchers also warn that prices can swing. Corrections aren’t ruled out, especially if demand eases or global economic conditions change.

What about silver?

Silver has been one of the standout performers this year, with prices surging sharply. Recent reports show the metal hitting record levels as industrial demand and supply constraints tighten the market. 

Silver prices have reached a record high of two lakh rupees per kilogram in India.

While silver doesn’t always move in lockstep with gold, its strong performance has drawn fresh investment interest. Some analysts believe it will continue riding this momentum into 2026. 

Is now a good time to buy?

Investors asking whether to buy now or wait face differing views. Some forecasting models suggest holding off for potential dips, while others point to current momentum as a reason to invest sooner. Factors like central bank policies, global growth concerns, and currency moves will play a role in shaping prices.

For everyday buyers and savers in India, these global trends could translate into fluctuating local rates. Jewellery demand, festival seasons, and rupee movements still influence prices a lot at the retail level.