The precious metals market is on fire. As we navigate the second week of January 2026, both gold and silver are trading near all-time highs, leaving investors with one burning question: Is this the calm before the storm, or just the beginning of a much larger bull run?
According to Maneesh Sharma, AVP – Commodities & Currencies at Anand Rathi Shares and Stock Brokers, the answer leans heavily towards the latter. He sees the current gold price prediction pointing to a sustained rally, fueled by a potent cocktail of global economic fragility and geopolitical tension .
Table of Contents
- Current Market Snapshot: Gold & Silver Rates in India
- Expert Insight: Maneesh Sharma’s Bullish Outlook
- Key Drivers Behind the Gold Rally in 2026
- Silver: The Dark Horse of Precious Metals
- What This Means for Investors
- Conclusion: Is the Gold Rally Over?
- Sources
Current Market Snapshot: Gold & Silver Rates in India
As of January 14, 2026, the domestic market is reflecting the global surge. In India, the price of 24-karat gold is hovering around ₹14,362 per gram, while 22-karat gold is priced at approximately ₹13,165 per gram . For those looking at the international benchmark, gold has climbed to a staggering $4,636.90 per troy ounce, marking a 1.10% increase from the previous day and a phenomenal 72.06% year-over-year gain .
Silver isn’t far behind. The white metal is trading at about ₹275.10 per gram, which translates to nearly ₹2,75,100 per kilogram in major markets like Delhi . This strong performance across both metals underscores a broad-based flight to safety among investors.
Expert Insight: Maneesh Sharma’s Bullish Outlook
Maneesh Sharma’s analysis is a cornerstone for anyone tracking the gold price prediction for the coming months. His firm, Anand Rathi, is a respected voice in the Indian commodities space, and his recent commentary is unequivocally optimistic.
Sharma points to the confluence of persistent global uncertainties as the primary fuel for the rally. He believes that with central banks worldwide still navigating complex monetary policies and geopolitical flashpoints remaining unresolved, the demand for gold as a safe-haven asset will only intensify . This isn’t just a short-term blip; it’s a structural shift in market sentiment.
Key Drivers Behind the Gold Rally in 2026
Several powerful forces are converging to push gold prices higher:
- Geopolitical Tensions: Unresolved conflicts in the Middle East and the ongoing Russia-Ukraine war continue to create a volatile global environment, driving investors towards stable assets .
- Economic Uncertainty: Concerns over global economic growth, coupled with stubborn inflation in many regions, have eroded confidence in traditional financial instruments .
- Monetary Policy Divergence: While some central banks may be nearing the end of their hiking cycles, the path forward remains unclear, keeping real interest rates—a key opportunity cost for holding non-yielding gold—relatively attractive .
- Strong Central Bank Demand: Global central banks have been consistent net buyers of gold for several years, a trend expected to continue as they seek to diversify reserves away from fiat currencies .
These factors, as noted by the World Gold Council, could even propel gold towards the psychological $5,000 per ounce mark if risks escalate further .
Silver: The Dark Horse of Precious Metals
While gold grabs the headlines, silver is quietly staging an impressive comeback. Often referred to as “poor man’s gold,” silver has a dual identity as both a store of value and an industrial metal. This unique characteristic can lead to explosive moves when investor sentiment shifts.
Maneesh Sharma has also cast a bullish eye on silver, predicting it could reach between INR 3.25 lakh and INR 3.5 lakh per kg this year . Given its current price near ₹2.75 lakh, this represents significant upside potential, possibly even outperforming gold in percentage terms—a scenario that has played out in previous bull markets.
What This Means for Investors
For the average investor, this market presents both opportunity and risk. Here’s a quick breakdown:
- Diversification: Gold and silver remain excellent tools for portfolio diversification, offering a hedge against equity market volatility. Consider allocating a small percentage of your portfolio to these assets.
- Investment Avenues: You can gain exposure through physical bullion, sovereign gold bonds (SGBs), gold ETFs, or MCX futures contracts. Each has its own cost structure and liquidity profile. [INTERNAL_LINK:how-to-invest-in-gold-in-india]
- Long-Term View: Given the macroeconomic backdrop, a long-term investment horizon is advisable. Trying to time the absolute peak of the market is a fool’s errand.
For a deeper understanding of market dynamics, the World Gold Council provides authoritative research and data on gold demand and supply trends.
Conclusion: Is the Gold Rally Over?
All signs point to a resounding ‘no.’ The current gold price prediction from leading analysts like Maneesh Sharma, combined with the powerful fundamental drivers of economic and geopolitical uncertainty, suggests the rally has strong legs. While short-term corrections are always possible, the overarching trend for both gold and silver in 2026 appears firmly bullish. Investors would be wise to pay close attention and consider their strategic allocation to these timeless assets.
Sources
- Times of India: Gold price prediction today: Will gold, silver price rally continue…
- GoodReturns: Gold and silver rates today in India (14 January 2026)
- Investing.com: Gold – Price – Chart – Historical Data – News
- Financial Express: Silver Price Prediction 2026…
- Moneycontrol: Gold prices outlook for 2026: 5 factors that could help…
- World Gold Council: Gold prices in 2026 will be determined by four major factors…