Gold and silver began 2026 with increased volatility following a strong 2025 rally, though the outlook for precious metals remains positive. Gold futures saw a slight decrease, while the price for 10 grams of 24-carat gold increased. Analysts attribute recent volatility to profit-taking and margin hikes, but note renewed buying interest driven by expectations of US Federal Reserve rate cuts, geopolitical risks, and demand for real assets. Gold is projected to trade between Rs 1,34,000 and Rs 1,40,000 in the near term.