Gold Silver Prices Today February 2026: Rates Fall on Profit Booking
Gold Silver Prices pulled back on Tuesday, February 24, 2026, as investors locked in profits following sharp rallies in the previous session, while a firmer U.S. dollar added pressure on the precious metals .
The pullback comes after bullion surged 2.5% in Monday’s trading, with the retreat snapping a four-session winning streak for gold . Despite today’s decline, both metals remain elevated amid ongoing geopolitical tensions and uncertainty surrounding U.S. trade policy .
Gold Silver Prices
Gold Price Today: Global and Domestic Rates
International Gold Prices
Benchmark Price Change
- Spot Gold $5,170.57 per ounce +1.31%
- Spot Gold (Reuters) $5,172.11 per ounce -1.1%
- Spot Gold (BusinessLine) $5,167.28 per ounce -1.2%
- U.S. Gold Futures (April) $5,210.40 per ounce -0.3%
Spot gold fell 1.1% to $5,172.11 per ounce by 0827 GMT, easing from a more than three-week high hit earlier in the session . The metal had surged more than 2% in the prior session, reaching highs of around $5,249 per ounce .
“The broader narrative for gold remains skewed to the upside,” said Zain Vawda, analyst at MarketPulse by OANDA. “If we see further dollar weakness or an escalation in Middle East tensions, a reversal toward the $5,210 level and potentially fresh highs above the $5,249 handle is well within reach” .
Read Also Here: Gold Rate in Pakistan Remains Unchanged certainly
Indian Gold Prices
City Price (per 10g, 24K)
- Mumbai ₹1,58,882*
- Delhi ~₹1,58,900
- Kolkata ~₹1,58,900
- Chennai ~₹1,58,900
- *MCX futures price
On the Multi Commodity Exchange (MCX), gold opened the Tuesday session at ₹1,58,882 per 10 grams of 24-carat purity, down 0.25% from the previous close . The Indian Bullion Jewellers Association (IBJA) pegged the standard gold price 2.58% higher at ₹1,58,428 per 10 grams of 999 purity at its evening rate session on Monday .
Gold rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs .
Silver Price Today: Global and Domestic Rates
International Silver Prices
Benchmark Price Change
Spot Silver $87.38 per ounce -1.0%
COMEX Silver $88.65 per ounce +1.83%*
London Silver $87.97 per ounce +2.04%*
*Previous session data
Spot silver fell 0.9% to $87.39 per ounce, after hitting a more than two-week high on Monday . On the international market, the spot metal on Comex was trading at $86.27 per ounce, down 0.34% from its previous close .
The Gold/Silver ratio, which shows the number of ounces of silver needed to equal the value of one ounce of gold, stood at 58.74 on Tuesday, down from 58.90 on Monday .
Indian Silver Prices
City Price (per kg) Price (per 10g)
Mumbai ₹2,85,000 ₹2,850
Delhi ₹2,85,000 ₹2,850
Kolkata ₹2,85,000 ₹2,850
Bangalore ₹2,85,000 ₹2,850
Hyderabad ₹2,90,000 ₹2,900
Kerala ₹2,90,000 ₹2,900
Pune ₹2,85,000 ₹2,850
Ahmedabad ₹2,85,000 ₹2,850
In India, silver prices extended their volatile run in the latter half of February. After holding steady at ₹270 per gram on February 19-20, prices climbed to ₹275 on February 21, before surging sharply to ₹300 per gram on February 23 .
However, the rally proved short-lived. On February 24, silver corrected to ₹285 per gram (₹2,85,000 per kg), falling ₹15,000 per kg from the previous session’s peak of ₹3,00,000 .
The domestic futures price of metal closed Monday trade 0.01% higher at ₹2,65,350 per kilogram .
Factors Influencing Today’s Prices
1. Profit Booking After Sharp Rally
The primary driver of today’s pullback was profit-taking after gold surged 2.5% in the previous session . “There was some profit taking as prices spiked to highs of around $5,249/oz,” noted Zain Vawda of MarketPulse by OANDA .
2. Stronger U.S. Dollar
The dollar edged up 0.2%, making greenback-priced bullion more expensive for holders of other currencies . A stronger dollar typically dampens demand for precious metals, which are often viewed as hedges against economic uncertainty .
3. U.S. Trade Policy Uncertainty
Mixed signals from U.S. trade policy have revived uncertainty around global trade dynamics, prompting renewed safe-haven buying in bullion . The U.S. Supreme Court ruled on Friday that President Trump’s use of a 1977 emergency law to impose tariffs exceeded his authority, but hours later Trump invoked a different law and imposed a temporary tariff of 15% on U.S. imports .
Trump on Monday warned countries against backing away from recently negotiated trade deals, saying that he would hit them with much higher duties under different trade laws .
4. Geopolitical Tensions
Geopolitical tensions, including rising strains between the U.S. and Iran, added to market unease . Iran and the U.S. will hold a third round of nuclear talks on Thursday in Geneva .
5. Federal Reserve Rate Expectations
Federal Reserve Governor Christopher Waller indicated he was open to leaving interest rates on hold at the March meeting if upcoming February jobs data shows the labour market has “pivoted to a more solid footing” after a weak 2025 . Markets currently expect three 25-basis-point rate cuts this year, according to CME’s FedWatch Tool .
Technical Analysis and Outlook
Gold Outlook
According to the Augmont Bullion report published on February 23, gold has delivered a decisive breakout, sustaining above the key psychological level of $5,000 and moving past its earlier consolidation ceiling near $5,130 .
“This technical breakout indicates renewed bullish momentum, with prices now likely targeting the next resistance zones at $5,300 (approximately ₹1,63,000) and $5,400 (approximately ₹1,66,000),” the report stated. “The move suggests fresh buying interest rather than short covering, keeping the near-term bias positive” .
Axis Securities maintains a bullish bias, projecting U.S. spot gold could rise toward $5,311 per ounce during the session, with a range of $5,106.43–$5,311.27 . On the domestic front, they expect April gold futures on MCX to potentially touch ₹1,61,729 per 10 grams .
Silver Outlook
The Augmont Bullion report estimates that silver prices are gradually approaching the resistance level around $92 (approximately ₹2,80,000). “Unless a strong breakout occurs above this zone, silver may remain range-bound with intermittent volatility” .
“Gold has formed a short-term base near ₹1,55,000 on MCX and $5,000 on CME, and the ongoing tariff adjustments continue to keep economic outlooks fluid. As long as trade policy remains unpredictable, allocation toward gold is likely to stay firm,” said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities .
Expert Views
Ilya Spivak, Head of Global Macro at Tastylive: “Obviously, we had a meaningful rally in gold yesterday. We have a little bit of a digestion here, and I think it’s noteworthy that we don’t see the panic that we saw on Wall Street extend into the Asian market” .
Satish Dondapati, Fund Manager – ETF at Kotak Mutual Fund: The Supreme Court’s decision weakened the dollar and increased safe-haven buying amid persistent tensions in the Middle East. Uncertainty around global trade, coupled with firm US inflation data, could keep bullion prices sensitive to expectations around the Federal Reserve’s rate path .
Nikunj Saraf, CEO of Choice Wealth: Gold’s recent rally was driven largely by policy-led uncertainty that weakened the dollar and pushed investors towards safe havens. The sustainability of gains will depend on whether tariff-related risks persist and how real yields move. He advised investors to treat gold as a hedge within a diversified portfolio, favouring a systematic investment approach over lump-sum bets to manage timing risks .
Conclusion
Gold and silver prices retreated on February 24, 2026, as profit booking and a stronger dollar weighed on the precious metals following sharp rallies in the previous session. Despite today’s pullback, both metals remain well-supported by geopolitical tensions and ongoing uncertainty surrounding U.S. trade policy.
Technical indicators suggest renewed bullish momentum for gold, with prices likely targeting $5,300–$5,400 in the near term. Silver faces resistance around $92, with range-bound trading expected unless a strong breakout occurs.
With trade tensions simmering, Fed policy uncertainty lingering, and safe-haven demand intact, the near-term trajectory for precious metals will likely hinge on upcoming U.S. macro data and dollar movement.
Analysis by Best Pak Mag
Today’s pullback in gold and silver prices represents a healthy correction rather than a trend reversal. After gold surged 2.5% on Monday—its biggest single-day gain in weeks—some profit booking was inevitable . The fact that prices are holding well above the $5,100 level suggests underlying strength remains intact.
The dollar’s modest rebound added pressure, but the broader macro environment continues to favor precious metals. U.S. trade policy uncertainty has, if anything, increased following the Supreme Court’s ruling and Trump’s subsequent retaliatory threats . Geopolitical tensions with Iran remain elevated, with nuclear talks scheduled for Thursday .
From a technical perspective, gold’s breakout above the key psychological level of $5,000 and its previous consolidation ceiling near $5,130 is significant . The sustained move above these levels suggests fresh buying interest rather than short covering, keeping the near-term bias positive.
For silver, the volatility is more pronounced but consistent with its historical pattern of amplifying gold’s moves. The sharp surge to ₹300 per gram followed by a swift correction to ₹285 underscores the fragile and reactive nature of the market . However, silver’s industrial applications—particularly in electronics and solar energy—provide additional demand drivers that could support prices in the medium term .
Investors should view pullbacks as potential entry opportunities while maintaining a long-term perspective. As Nikunj Saraf noted, treating gold as a hedge within a diversified portfolio and adopting a systematic investment approach makes sense given current uncertainties .
Key levels to watch:
- Gold: Support at $5,100, resistance at $5,300–$5,400
- Silver: Support at $85, resistance at $92
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