Gold Prices Remain Unstable, Silver Prices Today Drop Below ₹3 Lakh on February 6, 2026; Check City-Wise Rates

Gold prices in India have entered another phase of volatility after briefly recovering from a three-day slide. Following two sessions of sharp gains, bullion prices once again turned weak on Friday as markets turned cautious ahead of the Reserve Bank of India’s Monetary Policy Committee (MPC) decision.

On Friday, February 6, physical gold prices stood largely unchanged but showed signs of pressure amid global cues and cautious investor sentiment.

Gold Prices in India (Per Gram)

24-carat gold: ₹15,441 22-carat gold: ₹14,154 18-carat gold: ₹11,581

Weakness was also visible on the Multi Commodity Exchange (MCX), where gold futures remained muted after recent fluctuations.

MCX Gold Update

Gold Futures (Feb 2026): ₹1,54,410 per 10 grams Previous session fall: ₹189 or 0.12%

Gold Rates Across Major Cities (Per 10 Grams)

Delhi:

24K: ₹1,54,570 22K: ₹1,41,700 18K: ₹1,15,970

Mumbai:

24K: ₹1,54,420 22K: ₹1,41,550 18K: ₹1,15,820

Kolkata:

24K: ₹1,54,420 22K: ₹1,41,550 18K: ₹1,15,820

Chennai:

24K: ₹1,56,220 22K: ₹1,43,200 18K: ₹1,22,500

Hyderabad / Bengaluru / Pune / Kerala:

24K: ₹1,54,420 22K: ₹1,41,550 18K: ₹1,15,820

International Gold Market

Spot Gold: $4,826.99 per ounce (down $137.32 / 2.77%) Comex Gold: $4,870.9 per ounce (down $80 / 1.61%)

Analysts attributed the decline to a stronger dollar, dovish signals from US Federal Reserve officials, and fading safe-haven demand after gold briefly crossed the $5,000-per-ounce mark.

Silver Prices:

Silver prices in India continued to weaken on Friday, slipping below the crucial ₹3 lakh per kg mark amid subdued demand and bearish futures trading. The metal failed to sustain recent gains, highlighting persistent pressure across both physical and paper markets.

Silver Prices Today (India)

1 gram: ₹299.90 8 grams: ₹2,399.20 10 grams: ₹2,999 100 grams: ₹29,990 1 kg: ₹2,99,900

Retail silver prices dropped by ₹100 per kg, while futures prices on MCX indicated deeper weakness.

MCX Silver Update

Silver Futures (Feb 2026): ₹2,80,000 per kg Trend: Lower circuit, bearish bias

Market participants noted a widening gap between physical and futures prices, pointing to low confidence and reduced participation in the derivatives market.

Silver Prices in Major Cities (Per Kg)

Mumbai: ₹2,99,900 Delhi: ₹2,99,900 Kolkata: ₹2,99,900 Chennai: ₹2,99,900 Bengaluru: ₹2,99,900 Hyderabad: ₹2,99,900 Pune: ₹2,99,900 Ahmedabad: ₹2,99,900 Kochi: ₹2,99,900

Market Outlook

Silver failed to hold above ₹3 lakh per kg Weak industrial demand and lack of buying interest persist Futures market remains under pressure Gold continues to outperform silver in relative terms

With global uncertainty, RBI policy cues, and muted industrial demand, silver remains vulnerable to further downside unless strong buying interest returns.