Gold price prediction today: Will gold, silver touch new highs in coming days? Here’s the outlook

• In the latest developments, US President Donald Trump threatened to raise tariffs on South Korean goods from 15% to 25%, citing delays by the ally’s legislature in approving a trade deal.
• Investors have also weighed the upcoming US Federal Reserve policy decision, through concerns about the Fed’s independence & speculation that Trump may announce a new Fed chair this week could overshadow the meeting.
• Silver & other precious metals have also benefited from the so-called debasement trade, as investors shift from bonds & currencies into safe haven assets amid growing unease over heavy fiscal spending in major economies. A massive selloff in the Japanese bond market last week is the latest example of investors rejecting heavy fiscal spending.
• Global shortage persists in Silver markets as Bloomberg sources revealed, banks & refineries scramble to meet unprecedented demand from Shanghai, Turkey & South Korean retail markets. This is evident from the fact that retail investors in Turkey are now prepared to pay as much as $9 an ounce above global benchmark prices in London to get their hands on silver, while premiums remain elevated across the Middle East with China markets also trading at a $8 – 9 $ premium to global LBMA benchmark.
• Meanwhile Silver relative outperformance over gold has also compressed the gold–silver ratio from pandemic highs of 127 to around 45 at the start of 2026. S
• Silver witnessing a dual demand surge acting both as a monetary hedge and as a critical industrial metal tied to solar, EVs, and grid infrastructure has been responsible for the compression in ratio since pandemic surge.
• Meanwhile historically such a decline has proved unsustainable with the ratio could tend to revert higher above 50 - 55 levels in short to medium term perspective. This indicates corrections due in Silver over a medium term timeframe of 1 – 2 months while gold continues to adjust higher supported by macroeconomic backdrop.

Gold Price Outlook:

• Upcoming FOMC meeting, Union Budget announcement & Trump policies to create volatility in coming weeks in local markets. MCX Silver is set to test upside towards Rs. 4,00,000 per Kg. before turning volatile in the coming weeks.

• Silver’s wild intraday price swings seen in the last few sessions signals that although it remains “in established uptrends”, the balance of risk shifts toward increased short-term volatility rather than a straight continuation higher.
• Investors now await Trump’s pick for the next Fed chair after the US president stated that he had stopped interviewing candidates and reiterating has someone in mind for the job. A more dovish chair would increase bets on further interest rate cuts this year, which remains a positive for non-yielding bullion — after three successive reductions.
• With MCX markets showing high volatility in prices amid arbitrage trades persisting within futures contracts, market traders also await any announcement of changes in import duty structure which may bring in additional volatility in prices.