New Delhi, February 10, 2026
After two consecutive sessions of strong gains, gold and silver prices declined sharply in the bullion market on Tuesday, reflecting profit booking and renewed pressure from global factors. The pullback came after both precious metals recently touched record-high levels.
By early afternoon, gold prices had fallen by ₹1,300 per 10 grams, while silver prices dropped by ₹5,800 per kilogram, marking a notable correction.
Gold and Silver Prices in Early Trade
In early trading, gold slipped by ₹960 to trade near ₹1.57 lakh per 10 grams, while silver declined ₹2,640 to around ₹2.61 lakh per kilogram.
The fall followed a strong rally in the previous session, when silver surged close to ₹2.72 lakh per kg and gold climbed to nearly ₹1.58 lakh per 10 grams in the domestic market.
Global Factors Pressure Precious Metals
Analysts said the decline was driven by a rebound in the US dollar, which recovered from more than a week-long low. A stronger dollar typically weighs on precious metals by making them more expensive for overseas buyers.
Investors are also awaiting key US employment and inflation data due later this week, which could provide fresh signals on the future direction of interest rates.
Gold and Silver Prices in International Markets
In the global market, spot gold slipped nearly 1% to $5,016.56 per ounce, retreating after a 2% rally in the previous session fueled by dollar weakness. Gold had earlier touched a record high of $5,594.82 per ounce on January 29.
US gold futures for April delivery also declined 0.8% to $5,041.60 per ounce.
Silver saw a sharper correction. Spot silver dropped 2.5% to $81.31 per ounce, after surging nearly 7% in the previous session. Silver had hit an all-time high of $121.64 per ounce on January 29.
Bullion Market Prices on Monday
In the domestic bullion market on Monday, silver prices had jumped 6.66% to ₹2.72 lakh per kilogram. At the same time, 99.9% pure gold rose by ₹1,300, reaching ₹1.58 lakh per 10 grams, driven by strong global cues and safe-haven demand.
MCX Gold and Silver Performance
On the domestic futures market, prices ended higher in the previous session. On Multi Commodity Exchange of India, MCX gold futures for April delivery rose ₹2,943, or 1.89%, to close at ₹1,58,394 per 10 grams.
Meanwhile, MCX silver futures for March delivery jumped ₹12,853, or 5.14%, to settle at ₹2,62,745 per kilogram.
Market Outlook
Market experts believe volatility in gold and silver prices may continue in the near term, with traders closely monitoring US macroeconomic data, dollar movement, and interest rate expectations. Profit booking at elevated levels could keep prices range-bound despite long-term bullish sentiment.
