Gold and silver experienced significant volatility at the start of 2026, following a strong rally in 2025. Analysts note a constructive fundamental outlook for precious metals, with gold futures seeing moderate declines and 24-carat gold prices rising slightly over the week. Volatility is attributed to profit-taking, increased margin requirements, and anticipation of US economic data. Despite corrections, buying interest persists due to expected Fed rate cuts, geopolitical risks, and demand for real assets. Near-term price ranges are projected between Rs 1,34,000-Rs 1,40,000.