New Delhi | February 24, 2026
Volatility continued in precious metal markets on Tuesday as domestic gold prices declined while silver extended gains, even as global markets saw sharp corrections.
In the Indian bullion market, gold fell ₹500 to ₹1.61 lakh per 10 grams. In contrast, silver surged ₹1,140 to reach ₹2.67 lakh per kilogram, reflecting heightened investor activity and ongoing market fluctuations.
MCX Gold and Silver Rates
On the Multi Commodity Exchange of India (MCX), gold contracts expiring April 2 were trading at ₹1,61,668 per 10 grams. Meanwhile, silver contracts expiring March 5 were trading near ₹2,65,350 per kilogram.
The sharp movements in domestic prices have made jewelry purchases increasingly expensive for consumers, particularly during the ongoing wedding season. Analysts note that sustained demand for safe-haven assets and global buying trends have kept precious metals volatile.
Government Monitoring Price Trends
India’s Finance Minister Nirmala Sitharaman and Reserve Bank Governor Sanjay Malhotra have stated that authorities are closely monitoring gold and silver prices as well as rising import levels.
According to the Finance Ministry, international buying activity and global macroeconomic factors are contributing to the upward pressure on domestic precious metal prices.
Global Gold and Silver Prices Decline
Despite domestic volatility, international bullion prices declined on Tuesday under pressure from a stronger US dollar and geopolitical uncertainty.
On COMEX, gold slipped from its three-week high. Spot gold dropped approximately 1.5% to $5,150.38 per ounce, while US gold futures for April delivery fell 1.1% to $5,170.70 per ounce.
Silver also witnessed a sharp correction. Spot silver declined 3.1% to $85.50 per ounce, retreating from a two-week high recorded in the previous session.
Market analysts attribute the decline to dollar strength, ongoing tariff-related uncertainty, and geopolitical tensions, including developments involving the United States and Iran.
