Editor’s Note
This article reports on a decline in precious metals prices on India’s Multi Commodity Exchange, driven by weak global trends and investor profit-taking.
On Thursday morning, a decline was recorded in precious metals on the Multi Commodity Exchange (MCX). Sharp losses were seen in gold and silver due to weak global cues and profit-booking by investors. According to MCX iCOMDEX data, around 9:32 AM, gold for 2 April 2026 delivery was trading at ₹1,50,584 per 10 grams, down 0.98 percent, while silver for 5 March delivery also saw a decline.
Gold and silver prices in India keep changing daily due to a mix of both global and domestic factors. Trends in the international bullion market and fluctuations in the rupee-dollar exchange rate significantly impact local prices. Inflation expectations, changes in interest rates, and broader economic uncertainty often boost demand for these metals as a safe-haven investment. Geopolitical developments and general changes in demand-supply also cause daily fluctuations in gold and silver prices.
Gold and silver are currently a topic of discussion among investors, and people are keeping a close eye on their prices. Wild fluctuations are being seen in silver prices in trading. After two days of gains, the white metal’s prices fell by nearly 16% on Thursday, and in US trade on Friday (6 February 2026), it was trading around $65 per ounce.
At the end of January, silver prices reached their record high and were trading near the $120/ounce mark. Analysts said the price surge was primarily driven by high investment demand along with a soft US dollar and high expectations of rate cuts by the US Federal Reserve.
Earlier on 4 February, gold prices rose over 3% to reach nearly ₹23,000 per gram, while silver jumped 6% to around ₹2,84,556 per kilogram. However, despite this rally, silver still remains more than ₹1.35 lakh below its record level set on 29 January.
Gold-Silver Futures Trade Sees Decline for Second Consecutive Day
Silver prices continued to decline in futures trade for the second consecutive day on Friday. Investors accelerated profit-booking amid a strong US dollar and easing global geopolitical tensions.
On the Multi Commodity Exchange (MCX), silver futures for March delivery fell by ₹8,198 per kilogram on a trading volume of 6,160 lots. During intraday trading, silver broke by ₹14,628 or 6 percent to reach a low of ₹2,29,187 per kilogram.
On Thursday as well, silver prices had fallen by ₹25,035 or 9.3 percent and closed at ₹2,43,815 per kilogram. – PTI
Silver Rates in Different Cities Across the Country
A difference in silver prices was observed in major Indian cities on Wednesday. In Chennai, Hyderabad, and Kerala, silver was recorded at ₹2,800 per 10 grams, ₹28,000 per 100 grams, and ₹2,80,000 per kilogram.
Meanwhile, in other major markets like Delhi, Mumbai, Kolkata, Bangalore, Pune, and Vadodara, silver prices were slightly lower, where it remained at ₹2,750 per 10 grams, ₹27,500 per 100 grams, and ₹2,75,000 per kilogram.
Gold-Silver Prices Had Also Risen on 4 February
Earlier on 4 February, gold prices rose over 3% to reach nearly ₹23,000 per gram, while silver jumped 6% to around ₹2,84,556 per kilogram. However, despite this rally, silver still remains more than ₹1.35 lakh below its record level set on 29 January.
Gold/Silver Rate Today LIVE: What Should Investors Do?
– Akshat Garg, Head of Research & Product, Choice Wealth