The gold rate in India is trading with so much volatility as at the beginning of this week, gold prices have fallen sharply by around 13000 per 100 grams. With this drop in gold rates are now 12% below the record high level, which it ticked in January 2026. Other varieties, including 22K and 18K gold, are also trading much below the record-high levels.
A similar crash was observed in Spot gold last week, which fell by almost 1% due to profit booking and below the $5000 per ounce mark.
Gold Rate in India on Sep 7
On 16th February, the 24-carat gold rates in India fell by Rs. 1310 per 10 grams to cost Rs. 1,56,440, while the 22-carat gold declined by Rs 1200 to retail at Rs.1,43,400. Meanwhile, the 18-carat gold rates in India also dropped by Rs.980 Currently at Rs. 1,17,330 per 10 grams.
100 grams of 22-carat gold fell remarkably by Rs. 12,000, bringing the prices to Rs. 14,34,000. In a similar manner, the 24-carat gold per 100 grams dropped by Rs. 13,010 to retail at Rs. 15,64,400. Lastly, 18-carat gold rates slipped by Rs. 9,800 per 100 grams, costing Rs. 11,73,300.
Silver Rate in India Today, February 16th
Silver prices in India today saw a major crash this morning for the 3rd consecutive time. . As of now, 1 kg of silver in India is priced at Rs. 2,68,00 after falling by Rs 7000. While 100 g of silver rates in India cost Rs 26,800, which fell by 700.
Market Outlook for Gold Prices
“Gold edged up toward $5,030 per ounce as softer US inflation weighed on yields and the dollar, helping prices recover from a sharp, risk-off-driven selloff, while central bank buying and geopolitical concerns continue to support long-term demand.” as per an Analysis report from Way to Wealth Research
“On the technical front, MCX Gold is consolidating in a sideways manner, with resistance at 160250-160755 and support being witnessed near the 20 DEMA line. The 160250- 160755 zone is acting as a strong resistance on the upside, having repeatedly seen profit booking in this area. We expect range-bound movement to continue until a strong breakout occurs on the higher side. The outlook remains cautiously bullish, with immediate resistance at 158474 and support at 153150-149940.” it further noted.
MCX Gold and Silver Futures Update
Gold futures prices at the Multi Commodity Exchange, which are expected to mature on April 4th are currently trading at Rs. 1,54,753 per 10 grams after dropping by 0.73%. Similarly, silver futures slated to mature on March 5th fell by 2.75% and are trading at Rs. 2,37,650 per kg at the time of writing.
Spot Gold Prices + Spot Silver Price Today
Reuters, in its latest commodity report, cited, “Spot gold fell 1.1% to $4,988.04 per ounce by 0359 GMT. U.S. gold futures for April delivery lost 0.8% to $5,006.60 per ounce. Spot silver fell as much as 3.2% to $74.50 per ounce, after a 3% rise on Friday.”
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Credit: Goodreturns