Gold & Silver prices in the Indian commodity market witnessed significant fluctuations on February 10th. Silver, in particular, fell sharply on MCX, while gold also weakened due to global pressure. This day was a day of caution and strategy for investors, as weak signals from the international market impacted domestic prices. Let’s take a closer look at today’s gold and silver price changes and the key factors behind them.
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MCX silver falls sharply, breaches ₹2.60 lakh mark
Silver took the biggest hit today. The price of 1 kg of silver on MCX fell below the crucial ₹2.60 lakh mark. Silver touched a low of ₹2,59,997 per kg in intraday trading. At the time of writing, it was trading at ₹2,57,847 per kg, a decline of ₹4,773, or 1.82%, from its previous close.
MCX silver with March 2026 expiry also fell by nearly 2%. Previously, silver had been steadily rising, but this rally was unable to sustain due to profit-booking and global weakness. Spot silver in the international market also slipped by nearly 2% to below the ₹1.57 lakh per 10 gram mark, increasing pressure in the domestic market.
Selling Continues in MCX Gold
Like silver, gold also remained under selling pressure. MCX gold struggled to hold around ₹1.57 lakh per 10 gram. It slipped to a low of ₹1,56,001 per 10 gram intraday. Gold was trading at ₹1,56,996 per 10 grams during the day, down by about ₹1,070, or 0.7%.
Gold futures with April 2026 expiry also fell by about 1% to ₹1,55,394 per 10 grams. Spot gold prices also fell slightly in the international market, although they remained near a one-week high.
Latest Gold Prices in India Today
While MCX witnessed fluctuations, 24-carat, 22-carat, and 18-carat gold prices remained stable in the physical market.
24 Carat Gold (February 10)
- 1 gram – ₹15,791
- 8 grams – ₹1,26,328
- 10 grams – ₹1,57,910
- 100 grams – ₹15,79,100
24 carat gold remained stable at ₹1,57,910 per 10 grams.
22 Carat Gold
- 1 gram – ₹14,475
- 8 grams – ₹1,15,800
- 10 grams – ₹1,44,750
- 100 grams – ₹14,47,500
The price of 22 carat gold also remained unchanged at ₹1,44,750 per 10 grams.
18-carat gold
- 1 gram – ₹11,844
- 8 grams – ₹94,752
- 10 grams – ₹1,18,440
- 100 grams – ₹11,84,400
Rates of 18-carat gold also remained stable, with the price of 10 grams at ₹1,18,440.
This clearly shows that while there may be pressure in the futures market, there has been no change in retail prices at this time.
Impact of global cues: Why did gold and silver prices fall?
The recent fluctuations in the international market clearly reflected the impact on the Indian market. Spot gold fell below the per-ounce level as investors awaited important economic data from the US. In particular, the non-farm payrolls report and inflation data could influence the Federal Reserve’s interest rate policy.
The market is currently expecting at least two 25 basis point rate cuts this year. However, short-term profit-taking and a strong dollar are putting pressure on gold.
One reason for the decline in silver is that it had seen a historic rally in recent weeks. Consequently, investors booked profits at higher levels, leading to a correction in prices.
Impact of Crude Oil and Geopolitical Tensions
Crude oil prices also remained under pressure in the commodity market. US WTI and Brent crude traded in a narrow range. The US recently advised its ships to stay away from Iranian waters, further fueling geopolitical tensions. However, news of ongoing talks between the US and Iran has maintained some balance in the market.
Fluctuations in oil prices impact the dollar and inflation expectations, which indirectly influence the movement of gold and silver.
Why did Hindustan Zinc shares fall?
The decline in silver prices also impacted the stock market. Shares of Vedanta-backed Hindustan Zinc, one of India’s leading silver producers, fell nearly 2%. Since silver prices contribute significantly to the company’s earnings, a decline in prices directly impacts its share price.
Although the company reported strong results for the third quarter of FY2026, the current decline has impacted investor sentiment.
What are the signals for investors?
Market volatility may persist under current circumstances. US economic data, the Federal Reserve’s interest rate policy, the dollar index, and geopolitical developments will all determine the direction of gold and silver.
For long-term investors, the decline could be a buying opportunity, but short-term traders need to exercise caution. It is crucial to monitor technical levels and understand global cues.
Conclusion
The decline in gold and silver prices on February 10th demonstrated how quickly commodity markets can change. While silver on MCX is trading at the crucial level of Rs 2.6 lakh.Gold prices also remained under pressure. While physical prices remained stable, futures market movements may indicate the direction of the coming days.
Investors are advised to closely monitor global economic events and domestic market movements, as volatility may increase further in the coming days.
FAQs
1. Why did MCX silver prices fall sharply?
MCX silver dropped due to weak global cues and profit booking after a recent strong rally, falling below the key ₹2.6 lakh per kg level.
2. How much did MCX gold decline?
MCX gold fell by around 0.7%–1%, trading near ₹1.56 lakh per 10 grams amid selling pressure in global markets.
3. Are physical gold prices in India changing?
No, physical gold prices (18K, 22K, and 24K) remained unchanged despite volatility in futures trading.
4. What global factors are affecting gold and silver prices?
US economic data, Federal Reserve rate expectations, dollar strength, and geopolitical tensions are influencing price movements.
5. Why did Hindustan Zinc shares decline?
Hindustan Zinc shares fell because the company is a major silver producer, and falling silver prices negatively impact its revenue outlook.
