Gold, Silver Prices Fall: Gold Drops ₹500, Silver Down ₹5,000 Today

Gold, Silver Rates Today, February 10: Prices Ease on Profit Booking.

Gold and silver prices in India declined on February 10 as investors booked profits after the recent rally. On the Multi Commodity Exchange (MCX), gold futures slipped by nearly Rs 500, or 0.39%, to trade at Rs 1,57,450 per 10 grams in early Monday trade. Silver futures fell sharply by Rs 5,000, or 2.2%, to Rs 2,57,037 per kg.

In the spot market, 24-carat gold in Mumbai was priced at Rs 1,57,910 per 10 grams, while 22-carat gold stood at Rs 1,44,750 per 10 grams. These prices do not include GST and making charges. Spot silver prices also eased to around Rs 2,90,500 per kg.

Last month, gold had touched an all-time high above Rs 1,80,000 per 10 grams, while silver surged to a record Rs 4,20,000 per kg, driven by global uncertainties and strong investment demand.

What Is The Price Of 22kt, 24kt Gold Rates Today In India Across Key Cities On February 10?

Commenting on the outlook, Ponmudi R, CEO of Enrich Money, said MCX gold futures are currently consolidating in the Rs 1,55,000–Rs 1,60,000 range after a sharp correction from record highs.

“The broader uptrend remains intact, with strong buying interest seen in the Rs 1,45,000–Rs 1,50,000 support zone. A sustained hold above this base and a breakout beyond Rs 1,60,000 could revive upside momentum toward Rs 1,65,000–Rs 1,75,000, keeping the medium-term outlook positive despite volatility,” he said.

What Factors Affect Gold Prices in India?

Gold prices in India are influenced by international bullion rates, import duties, taxes, and currency fluctuations. These factors together determine daily prices across domestic markets.

Gold holds strong cultural and financial significance in India and remains a preferred investment, especially during wedding seasons and festivals. Given the constantly changing market conditions, investors closely track price movements to navigate volatility effectively.