Gold vs silver vs copper: Amid precious and base metals soaring to new highs regularly, investors looking for fresh investments might get confused as to which commodity is better suited for their portfolio in 2026. today reached a new peak when the hit an intraday high of ₹1,38,676 per 10 grams during morning dealings. also scaled to a new peak when the MCX silver rate today hit an intraday high of ₹2,24,300 per kg during the Opening Bell. Likewise, the copper price in India reached a new peak when the MCX copper price hit an intraday high of ₹1,168. As base metals gain momentum following the robust returns of gold and silver in 2025, it’s time to consider base metals as an alternative, as bullion is already in an overbought condition.
According to experts, copper prices are reaching new highs as industrial demand for copper has increased due to rising demand in the EV and AI segments. Similarly, they bet high on the silver demand as it has both industrial and investment value. People who can’t afford to buy gold due to the recent rally are looking at silver as an option. However, gold is likely to remain in demand due to geopolitical tensions and rising uncertainty in the global economy.
Gold price outlook
Expecting the bull run to continue in gold prices, Ponmudi R, CEO of Enrich Money, said, “COMEX gold continues its remarkable bullish run, trading near fresh all-time highs around $4,521/oz on COMEX, with the multi-month breakout structure firmly intact. Despite minor intraday pullbacks, prices remain elevated, supported by persistent safe-haven demand amid geopolitical tensions, strong central bank accumulation, and expectations of further monetary easing. The trend shows no signs of exhaustion, with dips consistently attracting buying interest.”
Ponmudi R of Enrich Money said, “A decisive hold above the $4,500–$4,480 zone strengthens the case for further upside toward $4,550–$4,600 in the coming sessions. Key support is placed at $4,400–$4,450, which has held firm throughout the rally. Gold is on track for its strongest annual performance since 1979, underpinned by structural drivers such as de-dollarisation trends and sustained ETF inflows.”
Ponmudi said that MCX Gold futures are hovering near lifetime highs around ₹1,38,300 to ₹1,38,400, maintaining strong upside momentum marked by a series of higher highs and higher lows. Pullbacks continue to be absorbed swiftly, reflecting solid domestic demand, supportive global cues, and a relatively stable rupee. A clean breakout above ₹1,38,500 could accelerate the move toward ₹1,40,000 to ₹1,45,000, while immediate support is seen at ₹1,36,000 to ₹1,35,000.
Silver price outlook
“COMEX silver has extended its impressive outperformance, trading near record levels around $72.3/oz on COMEX. The rally is being driven by a powerful combination of safe-haven flows, strong industrial demand—particularly from solar, EV, and electronics segments—and tight physical supply conditions. The impulsive bullish structure remains dominant, with prices brushing aside minor pullbacks. A sustained move above the $72–$75 zone could unlock further upside, while firm support continues to hold in the $68–$70 range. From a longer-term perspective, silver is positioning itself for a structural re-rating, with extended targets significantly higher as fundamentals remain favourable. The metal is on course for its best annual performance in decades, clearly outperforming gold amid rising geopolitical risk premiums.”
The Enrich Money expert stated that MCX Silver rates are consolidating near all-time highs, above ₹2,23,300, with the long-term uptrend remaining firmly intact as long as prices sustain above ₹2,13,000. Strong demand zones are visible in the ₹2,15,000 to ₹2,17,000 band. A convincing breakout above ₹2,23,000 could trigger the next leg of the rally toward ₹2,25,000 to ₹2,29,000, opening the door for fresh record highs.
What’s fueling copper prices
“Copper price rising due to the rising buzz in the EV and AI segment. These two segments have driven demand for Copper, which in turn has fueled copper prices across bourses. This trend is expected to continue as EV batteries require copper bars, whereas AI requires copper for semiconductor manufacturing,” said Sandeep Pandey, Co-founder of Basav Capital.
Gold, silver, copper price targets in 2026
On the outlook of gold, silver and copper prices that we can expect by the end of 2026, Anuj Gupta, Director at Ya Wealth, said, “From a fundamentals perspective, COMEX gold is expected to touch $5,000 per ounce levels by the end of 2026, which means gold rates in India would be around ₹1.50 lakh. The COMEX silver price is expected to reach $90 per ounce by the end of 2026, which means silver rates in India would be around ₹2,60,000 per kilogram. Likewise, fundamentals and demand-supply constraints signal that the copper price in India would be around the ₹1,250 to ₹1,300 levels.”
On what AI suggests regarding gold, silver and copper rates in India, Anuj Gupta said, “Gold price in India is expected to touch ₹1.75 lakh on MCX, and COMEX gold price is expected to touch $6,000 per ounce levels by the end of 2026. Similarly, silver price in India may go up to ₹3.50 lakh per kg, whereas copper price in India may touch the ₹1,500 levels by the end of 2026.”
Gold vs silver vs copper: Which is better in 2026?
Asked about the best-suited metal for investors in 2026, Anuj Gupta said, “I would suggest investors bet high on silver as it has both investing and industrial value, whereas gold has only investment value, while copper has only industrial value.”
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.