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Gold, silver rates today live updates: Precious metals crash to hit lower circuit on MCX; silver drops 12%, gold down 9%

Gold silver prices have crashed and how! Prices of precious metals have fallen sharply as a combination of market and macroeconomi...

The Times of India | Feb 02, 2026, 22:25:24 IST

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22:25 (IST), Feb, 02

Gold and silver languished after the US dollar surged amidst President Donald Trump's tariff negotiations, and de-escalation between US and Iran with US shutdown fears also being delayed once again with a liquidity push

 

- Manav Modi, Analyst, Commodities at Motilal Oswal Financial services Ltd

20:51 (IST), Feb, 02

Gold, silver rates today live updates: Silver drops to Rs 2.6 lakh, gold to Rs 1.52 lakh

Silver continued its sharp downward slide for a third consecutive session on Monday, plunging by Rs 52,000 to Rs 2.60 lakh per kilogram in the national capital, while gold also weakened to Rs 1.52 lakh per 10 grams amid adverse global cues and a stronger US dollar.

Data from the All India Sarafa Association showed that the white metal slumped nearly 17 percent, or Rs 52,000, to Rs 2,60,000 per kilogram, inclusive of all taxes. The previous session on Saturday had already seen silver crash by 19 percent, or Rs 72,500, to Rs 3.12 lakh per kilogram.

Cumulatively, silver has shed Rs 1,44,500 over the past three trading sessions, translating into a fall of almost 36 percent from its record peak of Rs 4,04,500 per kilogram touched on January 29.

Gold of 99.9 percent purity was not spared in the sell-off. Prices tumbled by Rs 12,800, or 7.73 percent, to Rs 1,52,700 per 10 grams, inclusive of taxes, on Monday. The yellow metal had closed at Rs 1,65,500 per 10 grams in the previous session.

19:07 (IST), Feb, 02

Gold, silver rates today live updates: Gold, silver well below record highs

Gold and silver prices extended their sharp decline on Monday after a renewed surge in the US dollar rattled precious metal markets, following reports that US President Donald Trump has selected Kevin Warsh as the next head of the US Federal Reserve.

Gold fell 4.3 percent to $4,682 an ounce, while silver slid nearly five percent to around $81 an ounce, adding to the steep losses recorded at the end of last week.

The sell-off began on Friday, when bullion prices started retreating after the dollar strengthened on expectations that Warsh’s appointment could signal a more hawkish stance on monetary policy.

As a result of the sustained correction, both metals are now trading well below their recent record peaks. Gold had crossed $5,500 an ounce last week, while silver had surged past $120, before momentum reversed sharply.

19:06 (IST), Feb, 02

Gold, silver rates today live updates: Closing bullion rates on Monday

1 Gm Gold 22 Kt - Rs 14,305 1 Gm Gold 24 Kt - Rs 15,605 Silver Per Kg: - Rs 2,70,900.

16:56 (IST), Feb, 02

Gold, silver rates today live updates: International prices down

Gold and silver prices saw sharp swings early Monday after a dramatic selloff ended a historic rally in precious metals. Gold slipped 1.9%, while silver recovered marginally, rising 0.2%, following steep losses at the end of last week.

The pullback came after both metals tumbled on Friday, when the long-running surge in prices abruptly lost steam. Gold fell 11.4% in a single session, snapping a powerful rally that had seen prices nearly double over the past year.

Gold had crossed the $5,000 mark for the first time on January 26 and climbed to around $5,600 at its peak on Thursday before reversing course.

Silver witnessed an even steeper correction. After a similarly rapid run-up, prices plunged 31.4% on Friday, underscoring the intensity of profit-taking as the record-setting momentum faded.

16:52 (IST), Feb, 02

Gold, silver rates today live updates: Gold begins the week on a weak note

“Precious metals continue to reel under intense selling pressure on nomination of Kevin as the Fee Chair. Gold is currently trading with a loss of over 5% as the US Dollar is a bit firmer.

Traders will focus on key US data like ISM services and manufacturing along with monthly job report to be released this week.

Deleveraging of momentum buyers and easing Iran tensions add to the downside pressure.

The yellow metal may decline to $4300 in near future. Resistance is at $4900,” says Praveen Singh, Research Analyst, Mirae Asset Sharekhan.

13:20 (IST), Feb, 02

Gold, silver rates today live updates: What's the outlook?

According to Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd, Gold and silver closed the week sharply lower after a steep pullback from record highs, as a strengthening US dollar and changes in expectations around US monetary leadership sparked aggressive profit booking. Market sentiment was further affected by reports that the Trump administration is set to nominate Kevin Warsh, prompting a reassessment of interest rate cut assumptions, alongside selling by ETFs and speculative investors.

Although underlying factors such as fiscal pressures, geopolitical risks and accommodative long-term policy continue to support precious metals, the intensity of the recent surge made prices susceptible to a sharp correction. In the domestic market, the Union Budget offered no major triggers for bullion, keeping the policy environment largely neutral. Focus has now shifted to the Reserve Bank of India’s policy decision, US employment data and PMI readings, which will be crucial in assessing whether the ongoing correction stabilises or deepens.

From a technical perspective, the broader trend remains positive, but margin-related selling and profit taking have altered price behaviour and chart structure. Prices have moved far beyond the Bollinger Bands and slipped below key support levels. Momentum indicators such as the RSI are hovering near previous lows, suggesting the possibility of a technical rebound.

The major support zone is seen around Rs 1,25,000, with near-term support at Rs 1,32,000. On the upside, Rs 1,55,000 and Rs 1,60,000 are expected to act as immediate resistance levels. Given the risk of further panic-led selling, a cautious approach is advised, with prices likely to remain range bound in the coming week.

12:30 (IST), Feb, 02

Gold, silver rates today live updates: Gold crashes, drops 6% on MCX

Gold prices continued to crash on Monday, dropping 6% on MCX to hit the lower circuit,, down nearly Rs 9,700 per 10 grams

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12:29 (IST), Feb, 02

Gold, silver rates today live updates: Silver crashes, drops 12% on MCX

Silver prices continued to crash on Monday, dropping 12% on MCX to hit the lower circuit,, down nearly Rs 32,000/-

11:59 (IST), Feb, 02

Gold, silver rates today live updates: Why are gold, silver under pressure?

“Yesterday, MCX gold and silver traded as per import duty expectations from the budget and were under pressure due to heavy selloff on January 30. The exchange had put a nine percent circuit limit in both the metals. Gold was highly volatile while silver remained at the lower circuit limit only. Contrary to general expectations, there was no change in the import duty, so silver had to fall further as it was discounting nearly 7% duty hike.

Today, the precious metals are facing huge downside pressure due to continuing selloff in the international markets as the Dollar Index is extending its gains. US President Trump nominating Kevin Warsh as the next Fed Chair continues to support the US Dollar,” Praveen Singh, Head of commodities, Mirae Asset ShareKhan tells TOI.

11:14 (IST), Feb, 02

Gold, silver rates today live updates: Gold, silver ETFs see some recovery

Gold and silver ETFs, after seeing a double digit plunge, have staged a partial recovery on Monday.

11:12 (IST), Feb, 02

Gold, silver rates today live updates: Gold is expected to remain volatile?

“The Union Budget FY27 kept markets on edge as the fiscal deficit target was pegged at 4.3%, while STT on futures was raised to 0.05% and on options to 0.15%, a move that is likely to dent participation in F&O and reduce speculative volumes in commodities as well.

There was no update on import duty for bullion, and with sharp weakness already seen in CME on Friday, domestic gold and silver reacted negatively. Gold has corrected nearly 20% from its peak of ₹1,82,500 to around ₹1,47,800, while silver has seen a much sharper 36% decline from ₹4,20,000 to near ₹2,65,650.

Going ahead, gold is expected to remain volatile but relatively more stable compared to silver, which may continue to witness exaggerated swings. In the current phase, caution is advisable — a watch-and-learn approach is better until volatility subsides and price structures stabilize,” says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

10:12 (IST), Feb, 02

Gold, silver rates today live updates: Gold price crash good news for markets?

“The Union Budget of FY27 managed a fine balancing act of maintaining capex growth at 12% despite revenue pressures, with a surge in short-term borrowings the only negative. The Nifty corrected 2% on Budget Day and we now see limited downside (1-2%) from current levels. A reversal of the recent correction, however, is heavily dependent on the arrest of the weakness in the rupee. The recent gold price crash, to that extent, is good news – as would be an early conclusion of the India-US trade deal,” says Emkay Global Financial services,

10:08 (IST), Feb, 02

Gold, silver rates today live updates: Gold, silver price crash continues

Gold and silver futures continued to slide for a third consecutive session on February 2, as investors locked in profits following a sharp rally that had driven both metals to record highs last month.

On the Multi Commodity Exchange, silver futures maturing on March 5, 2026, fell Rs 10,000, or 3.7 percent, to Rs 2,55,652 per kilogram. Gold futures for April 2, 2026 delivery also moved lower, declining Rs 4,252, or 3 percent, to Rs 1,43,501 per 10 grams.

The weakness followed steep losses in the previous session, when MCX silver futures had dropped Rs 26,273, or 9 percent, to settle at Rs 2,65,652 per kilogram. Gold April contracts had also eased, slipping 3 percent, or Rs 4,592, to close at Rs 1,47,753 per 10 grams.

In overseas markets, spot gold was trading 3.3 percent lower at $4,703.27 an ounce as of 0259 GMT. Prices had earlier fallen more than 5 percent during the session, touching their lowest level in over two weeks. Gold had reached an all-time high of $5,594.82 per ounce on Thursday.

22:10 (IST), Feb, 01

Gold, silver rates today live updates: Centre, RBI closely monitoring Rupee, gold, silver price movements, says DEA Secretary

The Centre and the Reserve Bank of India (RBI) are closely monitoring movements in the rupee and fluctuations in gold and silver prices, and will take steps as required to protect macroeconomic stability, Anuradha Thakur, secretary in the department of economic affairs (DEA), said on Sunday.

“As far as the rupee or the increase in prices of silver and gold is concerned, our job as a government and with the RBI as the main regulator is to monitor these developments and, from time to time, use the instruments available under rules, regulations and laws,” Thakur said, as cited by ANI. She added that maintaining the rupee within a certain range is a delicate exercise.

20:54 (IST), Feb, 01

Gold, silver rates today live updates: Silver slumps 9% to Rs 2.65 lakh per kg in futures trade, extends sharp weekly losses

Falling for the second consecutive day, silver slumped by Rs 26,273 per kg or 9 per cent to Rs 2.65 lakh per kg in futures trade on Sunday. On the Multi Commodity Exchange (MCX), silver for March delivery tanked Rs 26,273, or 9 per cent, to close at its lower circuit limit of Rs 2,65,652 per kg.

In the previous session, the white metal had slumped Rs 1,07,968, or 27 per cent, to close at Rs 2,91,925 per kg, also touching its lower circuit level.

In two trading sessions, silver has plummeted by Rs 1,34,241, or 33.6 per cent, while on a weekly basis, the metal cracked Rs 69,047, or nearly 21 per cent, from Rs 3,34,699 per kg recorded on January 23.

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19:41 (IST), Feb, 01

Gold, silver rates today live updates: Gold slides 3% amid volatility, silver slumps 9% in futures trade


Gold prices fell sharply on Sunday as investors continued to book profits at elevated levels, with futures trading marked by extreme volatility. Gold slipped 3 per cent to Rs 1.47 lakh per 10 grams, while the April futures contract plunged 9 per cent to Rs 1,38,634 per 10 grams in early trade, hitting the lower circuit on the MCX.

The contract later recovered part of its losses to settle at Rs 1,48,104 per 10 grams, down 3 per cent or Rs 4,241. On Friday, gold had slumped by Rs 31,617, or 17.2 per cent, to Rs 1,52,345 per 10 grams, after touching a record high of Rs 1,93,096 per 10 grams on Thursday.

Silver also extended its decline for the second consecutive day, sliding by Rs 26,273 per kg, or 9 per cent, to Rs 2.65 lakh per kg in futures trade.

18:58 (IST), Feb, 01

Gold, silver rates today live updates: Gems and jewellery trade welcomes budget, cites stability and MSME support

GJC vice chairman Avinash Gupta said the gems and jewellery trade welcomes the Union Budget 2026–27.

“The absence of any increase in customs duty, combined with strong MSME support, improved access to finance, simplified income-tax compliance, and enhanced ease-of-doing-business measures, will enable jewellers across the value chain to plan confidently and focus on sustainable growth amid global uncertainties,” he added, as cited by PTI.

18:14 (IST), Feb, 01

Gold, silver rates today live updates: SEZ reforms, stable gold import duties to boost jewellery sector, says industry expert

Colin Shah, founder and managing director of Kama Jewelry, said the proposed SEZ reforms, particularly the introduction of a special one-time facility allowing SEZ units to supply to the domestic tariff area (DTA) at a concessional duty, are a welcome step.

He noted that the move will help improve capacity utilisation and support the government’s vision of positioning India as a global diamond trading and manufacturing hub.

Shah also said that keeping import duties on gold and silver unchanged would provide much-needed stability to the sector and help drive sustainable growth, as cited by PTI.

17:30 (IST), Feb, 01

Gold, silver rates today live updates: Gems and jewellery sector welcomes growth-focused budget

The gems and jewellery sector on Sunday welcomed the Union Budget, describing it as positive and growth-oriented, and said it addresses key bottlenecks while providing fresh momentum to the industry.

“We thank the government for a positive, growth-focused Budget that addresses key bottlenecks and gives fresh momentum to India’s gems and jewellery sector. It improves liquidity, supports manufacturing and strengthens exports across the value chain,” GJEPC Chairman Kirit Bhansali said, as cited by PTI.

16:50 (IST), Feb, 01

Gold, silver rates today live updates: Gold prices plunge nearly 20% in 2 days amid extreme market volatility

Gold prices plunged nearly 20 per cent over the last two days amid extreme volatility in commodity markets, according to data from the Multi-Commodity Exchange (MCX).

On Sunday, the day of the Union Budget, 24-carat gold on the MCX fell to Rs 1,36,185 per 10 grams, down from the session’s opening of Rs 1,46,800 per 10 grams, reflecting sustained selling pressure and sharp intraday swings.

The decline follows heavy losses on Saturday, when 24-carat gold closed around 5.4 per cent lower at Rs 1,69,470 per 10 grams in the domestic market. Weakness was also seen in global markets, with international gold prices dropping over 9 per cent to USD 4,887 per ounce, adding further pressure on domestic rates.

15:12 (IST), Feb, 01

Gold, silver rates today live updates: Analyst remains bullish on gold, silver despite near-term correction

Maneesh Sharma of Anand Rathi Shares and Stock Brokers remains bullish on gold and silver, and expects fresh highs in the coming quarters. However, he noted that the sharp rally seen this month was due for a correction.

“Sharp run up in prices seen in the current month was due for correction, but that does not mean that the bull run is over. We expect prices to stabilize in next 2–3 weeks perspective. Meanwhile in the medium term prices are expected to consolidate in the second half of the current quarter,” he says.

13:54 (IST), Feb, 01

Gold, silver rates today live updates: Forecast for 2026, where is the yellow metal headed?

Abhilash Koikkara, head of forex & commodities at Nuvama Professional Client Groups, shared the forecast about 2026, saying that the yellow metal is relatively undervalued compared to silver. He added that gold has greater potential to outperform in the coming period and that a possible reversal in the gold–silver ratio from around the 50 level could further strengthen the gold rally.

Globally, gold is projected to rise to around $6,500 an ounce, while silver could touch $145 by the end of the year. On the MCX, gold is expected to target Rs 2.15 lakh, with silver seen climbing to Rs 5.25 lakh. However, he cautioned that both metals are likely to witness heightened volatility in 2026.

13:44 (IST), Feb, 01

Gold, silver rates today live updates: Why are gold prices falling after consistent rise?

Several factors contributed to the sharp fall in precious metal prices. After a steep rally, some amount of profit booking was widely expected. Analysts also pointed to heavy liquidation of long positions as a key reason behind the decline. Adding to the pressure, a strong rise in the US dollar further weighed on gold prices.

13:20 (IST), Feb, 01

Gold, silver rates today live updates: How much 24K gold costs in Delhi today?

Here's how much 24 carat gold costs today:

Rs 18,156 for 1 gram
Rs 1,45,251 for 8 gram
Rs 1,81,564 for 10 gram
Rs 18,15,640 for 100 gram

12:56 (IST), Feb, 01

Gold, silver rates today live updates: How much 22K gold costs in Delhi today?

Here's how much 22 carat gold costs in Delhi today:

1 gram: Rs 16,631
8 gram: Rs 1,33,049
10 gram: Rs 1,66,312
100 gram: Rs 16,63,120

12:45 (IST), Feb, 01

Gold, silver rates today live updates: Fed signals, strong dollar add pressure to bullion prices

Market experts said the sharp fall in gold and silver prices was driven by profit-booking, heavy liquidation of long positions and a strengthening US dollar, with added pressure from speculation around leadership changes at the US Federal Reserve.

Markets were caught off guard after US President Donald Trump nominated Kevin Warsh, known as an inflation hawk, intensifying concerns over the future rate path.

Maneesh Sharma, AVP – commodities & currencies at Anand Rathi Shares and Stock Brokers, told TOI that the US Fed had maintained status quo on Wednesday, keeping rates unchanged after noting an improvement in the labour market, while acknowledging that inflation remains elevated and reiterating a data-dependent, meeting-by-meeting approach.

Sharma added that the sharp moves in precious metals on Friday reflected speculation that Warsh may be less inclined to cut rates, given his inflation concerns and calls to reduce the Fed’s balance sheet, leading to a rise in the dollar and bond yields that weighed on bullion sentiment.

12:40 (IST), Feb, 01

Gold, silver rates today live updates: $5 trillion wiped off metal market cap after sharp sell-off

According to data from Mirae Asset ShareKhan, the recent plunge in precious metals erased nearly $5 trillion in market value, with gold losing almost $3.5 trillion and silver shedding about $1.5 trillion.

Despite the sharp correction, gains so far this year remain significant, with gold up $3 trillion and silver rising $2 trillion.

Over a longer horizon, international prices have seen a strong rally, with gold climbing 150% over the past two years and silver surging 326%, highlighting the scale of the earlier run-up before the latest sell-off.

12:33 (IST), Feb, 01

Gold, silver rates today live updates: Precious metals retreat sharply after record-breaking rally

The sharp fall in gold and silver prices came after months of record-breaking gains in both metals.

Gold had surged to around Rs 1,83,000 per 10 grams, while silver climbed to about Rs 4,04,500 per kg on Thursday.

By Friday, gold futures for February delivery slipped to around Rs 1.5 lakh per 10 grams, while silver for March delivery dropped to nearly Rs 3 lakh per kg, marking a decline of over Rs 1 lakh.

The sudden reversal reflects heavy profit booking after the strong rally and heightened caution among investors.

12:28 (IST), Feb, 01

Gold, silver rates today live updates: Experts urge calm, measured strategy amid price volatility

Amid speculation that large institutional activity may have triggered the recent fall in gold and silver prices, market experts cautioned that such claims remain unverified.

Investors were advised to stay measured in their approach, remain considerate towards those facing losses, and reassess their overall asset allocation.

Ajay Bagga said investors with a 10–15 per cent allocation to gold and silver may continue to hold, while those uneasy with volatility could consider exiting.

He added that commodity market downturns can last longer than expected, but holding investments over a reasonable period can still yield satisfactory returns, and short-term market noise should not distract from long-term financial goals.

12:23 (IST), Feb, 01

Gold, silver rates today live updates: Gold futures hit lower circuit on MCX as sell-off deepens

The sell-off in precious metals extended for a second straight session, with gold futures witnessing a sharp decline on the Multi-Commodity Exchange (MCX).

The April gold contract fell Rs 13,711, or 9 per cent, to Rs 1,38,634 per 10 grams, touching its lower circuit level during futures trade.

In the previous session, gold had plunged Rs 31,617, or 17.2 per cent, to settle at Rs 1,52,345 per 10 grams, after hitting a record high of Rs 1,93,096 per 10 grams on Thursday, reflecting heavy profit booking and heightened market volatility.

12:18 (IST), Feb, 01

Gold, silver rates today live updates: Silver futures crash to lower circuit on MCX amid profit booking

Silver futures on the Multi-Commodity Exchange (MCX) witnessed a sharp sell-off as traders booked profits at elevated levels. The March silver contract plunged Rs 26,273, or 9 per cent, to hit its lower circuit at Rs 2,65,652 per kilogram.

This followed a massive fall on Friday, when silver slumped Rs 1,07,968, or 27 per cent, to settle at Rs 2,91,925 per kg, also touching the lower circuit. The sharp correction came after silver had surged to a record peak of Rs 4,20,048 per kg on Thursday.

Traders said the steep fall was driven by aggressive unwinding of long positions amid global market volatility and cautious investor sentiment ahead of the Union Budget.

12:13 (IST), Feb, 01

Gold, silver rates today live updates: Experts flag leveraged bets after sharp rally, caution on short-term moves

Market experts said a large number of investors entered gold and silver trades over the past two months, drawn by sharp and steady price gains, many of which were fuelled by leveraged positions.

However, the recent sell-off wiped out nearly two months of gains in just two days, an outcome few had anticipated.

Ajay Bagga, banking and market expert, was quoted by news agency ANI as saying that the January 29–30 market meltdown hurt leveraged positions, while long-term investors, particularly Indian households, are likely to continue holding. He urged caution against leverage and warned against dismissive reactions towards investors facing losses.

Bagga added that while short-term price movements are unpredictable, long-term drivers such as central bank buying, currency debasement, fiscal deficits and rising silver demand from EVs, AI and renewable energy sectors remain intact.

11:58 (IST), Feb, 01

Gold, silver rates today live updates: Silver records 9% fall on Budget day, falls below Rs 2,66,000

Silver came under heavy selling pressure on Sunday, tumbling nearly 9% in a single-day session to Rs 2,65,900 per kg. The sharp decline followed a period of strong weekly gains over the past two months.

Market experts noted that a large number of investors had entered gold and silver trades during this rally, drawn by consistent price rises. A significant portion of the gains had been driven by leveraged positions, which amplified profits as bullion prices increased week after week. The recent correction reflects profit-booking and the unwinding of these leveraged trades, rather than a shift in the long-term fundamentals supporting precious metals.

11:46 (IST), Feb, 01

Gold, silver rates today live updates: Growing participation in past two months

Market experts said a surge in investor participation in gold and silver over the past two months was driven by strong and steady price gains. A significant portion of these returns was fuelled by leveraged positions, which amplified profits as bullion prices rose week after week.

They added that despite the recent sharp correction, the long-term fundamentals supporting precious metals remain unchanged. Continued central bank purchases, concerns over the debasement of fiat currencies, widening government fiscal deficits, and growing industrial demand for silver from electric vehicles, artificial intelligence and renewable energy sectors are still expected to underpin prices over the longer term.

11:44 (IST), Feb, 01

Gold, silver rates today live updates: Why are the precious metals falling?

Over the past two days, gold prices have recorded a steep fall of nearly 20%, as rising commodity markets were rattled by ongoing volatility, data from the Multi Commodity Exchange (MCX) showed. Commenting on the sharp correction, banking and market expert Ajay Bagga told ANI that the sharp selloff on January 29 and 30 would have significantly impacted leveraged positions. He noted that long-term investors, particularly Indian households, are likely to continue holding their gold investments, while cautioning against excessive leverage. Bagga also urged a measured approach to the situation, saying the focus should remain on risk management rather than assigning blame to investors who were caught in leveraged trades and are now facing heavy losses.

11:42 (IST), Feb, 01

Gold, silver rates today live updates: Why are gold and silver falling?

Traders attributed the sharp fall in bullion prices to profit booking amid heightened global market volatility and cautious sentiment ahead of the Union Budget presentation. Global futures markets remained shut on Sunday due to a holiday.

11:41 (IST), Feb, 01

Gold, silver rates today live updates: Gold and silver continue to fall

The sell-off deepened for a second consecutive session, with April gold futures sliding Rs 13,711, or 9%, to Rs 1,38,634 per 10 grams, hitting the lower circuit in MCX futures trade. In the previous session, gold had tumbled Rs 31,617, or 17.2%, to settle at Rs 1,52,345 per 10 grams, retreating sharply from its record peak of Rs 1,93,096 per 10 grams touched on Thursday.

11:39 (IST), Feb, 01

Gold, silver rates today live updates: Precious metals plunge 9%, hit lower circuits

Gold and silver futures slumped as much as 9% on Sunday, hitting their lower circuit limits ahead of the Union Budget 2026–27, as investors continued to book profits following the recent record-breaking rally in precious metals.

Gold and silver futures extended their slide for a third consecutive session on February 2 as investors booked profits following a sharp rally that had pushed both metals to record highs last month. The sustained selling pressure reflected a cooling-off phase after the recent surge.

On the Multi Commodity Exchange, silver futures expiring on March 5, 2026 fell by Rs 10,000, or 3.7 percent, to Rs 2,55,652 per kilogram. Gold futures for April 2, 2026 delivery also weakened, slipping Rs 4,252, or 3 percent, to Rs 1,43,501 per 10 grams.

Losses followed steep declines in the previous session, when MCX silver futures had dropped Rs 26,273, or 9 percent, to settle at Rs 2,65,652 per kilogram. Gold April futures had also closed 3 percent lower, shedding Rs 4,592 to end at Rs 1,47,753 per 10 grams.

Market participants are bullish on gold and silver despite the recent correction, viewing the pullback as a pause after a sharp rally rather than an end to the bull run. Gold, silver prices are expected to stabilise over the next few weeks. The broader bullish outlook is underpinned by factors such as de-dollarisation, central bank buying, geopolitical tensions, fiscal stress in major economies, strong industrial demand for silver from green energy, AI and EVs, and limited supply growth. Gold is widely seen crossing $6,000 to $6,500 globally by late 2026, with silver projected to move towards $145 to $150, while any meaningful correction is viewed as a buying opportunity amid expectations of higher volatility.
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No Need To Contril OthersMost Interacted
119 days ago

Rahul, fake progressives, we need to blame Modi for bringing gold silver prices back down all over the world…...Read More

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