New Delhi, India — February 6, 2026
Gold and silver prices continued their downward trend on Friday, extending losses in the domestic bullion market. Silver witnessed a sharp fall of up to ₹14,000, while gold prices declined by more than ₹1,500, tracking weak global signals and a stronger US dollar.
Gold, Silver Prices on MCX Today
In early trade on the Multi Commodity Exchange (MCX), gold prices slipped to around ₹1.50 lakh per 10 grams. At the same time, silver prices dropped steeply, trading near ₹2.33 lakh per kilogram.
Market participants attributed the decline to profit booking and cautious investor sentiment amid global uncertainty.
Sharp Fall Recorded in Previous Session
The pressure on bullion prices was evident a day earlier as well. On Thursday:
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Silver fell by ₹30,300 to ₹2.68 lakh per kilogram
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Gold dropped ₹4,500 to ₹1.60 lakh per 10 grams
The consecutive declines suggest sustained weakness in precious metals across sessions.
Global Market Cues Weigh on Bullion
Internationally, gold and silver prices fell sharply as the US dollar rose to a near two-week high. Signs of easing US–China trade tensions reduced demand for safe-haven assets, further pressuring prices.
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Spot Gold: Down 2.5% at $4,838.81 per ounce, slipping from near one-week highs
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US Gold Futures (April delivery): Fell 1.9% to $4,855.60 per ounce
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Spot Silver: Crashed 14.9% to $74.94 per ounce
Notably, silver had touched a record high of $121.64 per ounce last week, making the current correction particularly steep.
What Analysts Say
Analysts believe bullion prices may remain volatile in the near term, with movements largely driven by:
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Strength in the US dollar
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Global trade developments
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Interest rate expectations
Any further rise in the dollar could keep pressure on gold and silver prices, while investors remain cautious.
