Both gold and silver were under pressure in the commodity market on February 10. Weak international cues and profit-booking led to a decline in gold and silver prices on the Multi Commodity Exchange (MCX). Silver, in particular, faced significant pressure, slipping below the crucial ₹2.60 lakh per kg mark. Gold also fell below ₹1.56 lakh per 10 grams, causing investor anxiety.
Market experts believe this decline could be a result of partial profit-booking after a recent sharp rally. However, global economic cues, US interest rate expectations, and the dollar’s movement are also playing a key role in determining the direction of precious metals.
Gold Latest on MCX
MCX Gold attempted to hold around ₹1.57 lakh in afternoon trading but slipped further due to selling pressure. Gold futures with April 2026 expiry fell by nearly 1%, with the price trading in the range of ₹155,000–₹156,000 per 10 grams.
At the time of writing, the price of gold was around ₹156,996 per 10 grams, a decline of approximately ₹1,070, or 0.7%, from the previous level. It had slipped to ₹1,56,001 intraday. This decline indicates that safe-haven demand has weakened slightly in the market.
MCX Silver sees a significant decline, breaching the ₹2.6 lakh mark.
Silver saw a sharp decline. The MCX Silver price fell to ₹2,59,997 per 1 kg intraday, breaching the crucial ₹2.60 lakh mark. Silver fell by approximately ₹4,773, or 1.82%, to trade around ₹257,847 per kg during the day.
Silver with a March 2026 expiry fell by approximately 2%. Silver also weakened by approximately 2% in the spot market, halting the previous two days’ rally. According to experts, this pressure was caused by traders booking profits after the recent sharp rise.
24-carat gold prices (February 10)
24-carat gold prices remained stable in the physical market. Key rates are as follows:
- 1 gram: ₹15,791
- 8 grams: ₹1,26,328
- 10 grams: ₹157,910
- 100 grams: ₹15,79,100
10 grams of 24-carat gold remained stable at ₹157,910. The physical market saw no change, while the futures market saw pressure.
22-carat gold prices
Prices of 22-carat gold, the most commonly used material in jewelry, also remained stable:
- 1 gram: ₹14,475
- 8 grams: ₹115,800
- 10 grams: ₹144,750
- 100 grams: ₹14,47,500
10 grams of 22-carat gold remained at ₹144,750. This indicates that there have been no significant price fluctuations in the jewelry market at this time.
18-carat gold prices
18-carat gold prices also remained unchanged on February 10:
- 1 gram: ₹11,844
- 8 grams: ₹94,752
- 10 grams: ₹118,440
- 100 grams: ₹11,84,400
10 grams of 18-carat gold remained at ₹118,440. This carat is typically used in designer jewelry and stylish ornaments.
International Market Impact
Gold and silver also remained under pressure in the global market. Spot gold slipped below $2,050 per ounce, although it remained near a one-week high. Investors are keeping an eye on key US economic data, such as non-farm payrolls and inflation figures.
If the US Federal Reserve cuts interest rates this year, it could be a positive sign for gold. Currently, the market is expecting at least two 25 basis point rate cuts, which could support bullion in the long term.
FAQs
Q. Why did MCX gold fall below Rs 1.56 lakh?
A. MCX gold declined due to global selling pressure, profit booking, and weak international cues affecting safe-haven demand.
Q. How much did silver prices drop on February 10?
A. MCX silver fell by around Rs 4,800 per kilogram, slipping below the key Rs 2.60 lakh level.
Q. Are physical gold prices (24K, 22K, 18K) changing?
A. No, physical gold prices across 24K, 22K, and 18K remained unchanged on February 10.
Q. What is influencing gold and silver prices globally?
A. US economic data, Federal Reserve rate expectations, dollar movement, and geopolitical tensions are impacting precious metal prices.
Q. Is this a good time to invest in gold or silver?
A. It depends on your investment strategy. Short-term volatility is high, but long-term investors may view price dips as potential buying opportunities.
