Gold, Silver Prices: Gold prices have turned choppy following their sharp swings in early 2026. On Friday (Feb 13), precious metals prices declined more than 5 per cent in Delhi. While silver declined to Rs 2.55 lakh per kilogram, gold dropped to Rs 1.58 lakh per 10 grams amid subdued demand in the local market.
According to the All India Sarafa Association, the white metal slumped Rs 13,500, or 5.03 per cent, to Rs 2,55,000 per kilogram (inclusive of all taxes). It ended flat at Rs 2,68,500 per kg on Thursday.
Gold of 99.9 per cent purity also dived Rs 2,400, or 1.5 per cent, to Rs 1,58,500 per 10 grams (inclusive of all taxes) from the previous close of Rs 1,60,900 per 10 grams.
Gold, Silver Outlook
According to Hareesh V, Head of Commodity Research, Geojit Investments, the broader structure still appears constructive. Recent volatility was driven by shifts in Fed expectations, dollar strength, and speculative flows, yet gold continues to hold above key psychological levels near $5,000, keeping the medium‑term bias intact. Most institutional forecasts also support a positive long‑term narrative for 2026, underpinned by strong central‑bank buying, geopolitical uncertainty, and a softer dollar outlook.
"In the near term, trading may remain two‑way as markets digest US policy signals and risk events. However, dips are likely to attract buyers, supported by resilient safe‑haven demand and slowing real yields. Overall, while short‑term consolidation or pullbacks are possible, the long‑term trajectory remains upward, not indicative of a major correction," he said.
Gold, Silver Spot Price
In the international market, spot silver gained USD 2.01, or 3 per cent, to USD 77.30 per ounce, while gold was trading nearly 1 per cent higher at USD 4,968.40 per ounce.
Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said that softer inflation readings could revive expectations of policy easing and provide much-needed stability to bullion prices while persistent inflation and a resilient labour market could keep the Federal Reserve on a "higher-for-longer" trajectory, keeping prices under pressure.
