Gold, Silver Prices Drop In Domestic Markets Amid Profit Booking

Gold and silver prices opened lower in domestic futures trade on Thursday, tracking profit booking after recent gains. The decline in Indian bullion markets came despite a weaker US dollar, which typically supports precious metals by making it cheaper for holders of other currencies.

Both gold and silver futures on the Multi Commodity Exchange (MCX) traded in the red during morning deals. On Wednesday (February 25), MCX gold April futures had settled at Rs 1,61,145 per 10 grams. In early trade on Thursday, gold slipped to Rs 1,60,516 per 10 grams. Similarly, silver contracted from Rs 2,68,316 per kilogram to Rs 2,62,892 per kilogram.

However, global spot prices showed modest gains even as US gold futures edged lower, reflecting mixed investor sentiment across markets. The lingering uncertainty around US tariff policies and geopolitical tensions between the United States and Iran also drove market sentiments. 

Gold Price On February 26 (Per 10 Grams)

City    | 24K (Rs) | 22K (Rs)

Delhi | 1,60,990 | 1,47,550
Mumbai | 1,60,840 | 1,47,400
Chennai | 1,61,740 | 1,48,550
Kolkata | 1,60,840 | 1,47,400
Bengaluru | 1,60,840 | 1,47,400
Hyderabad | 1,60,840 | 1,47,400

(Note: Rates may vary slightly depending on local taxes and jeweller margins.)

Silver Prices On February 26

Silver prices also saw weakness in the domestic market. In Delhi, silver was quoted around Rs 2,62,900 per kg, broadly in line with MCX futures trends. Similar rates prevailed in other major cities including Mumbai, Kolkata, Bengaluru, Hyderabad and Chennai, with minor local variations.

Gold, Silver Futures

On the domestic front, gold and silver futures traded lower in early deals on the Multi Commodity Exchange (MCX). The decline in early trade comes after the sharp gains recorded in the previous session.

Gold, Silver Prices In International Markets

In international markets, precious metals showed modest gains even as volatility persisted. Spot gold rose 0.3% to $5,184.43 an ounce at 0110 GMT, after touching its highest level in over three weeks earlier this week. Spot silver edged up 0.1% to $89.49 an ounce, following a three-week peak in the previous session. However, US gold futures for April delivery slipped about half a per cent, indicating mixed trends between spot and futures trade.

What Is Driving Prices?

Market participants are closely tracking developments around US tariff policies, geopolitical tensions in West Asia, and movements in the US dollar. While a softer dollar generally lends support to bullion, near-term volatility and profit booking after recent highs have kept prices under pressure.