Indian Gold Rate: Over the course of the past week, the price of 24-, 22-, and 18-karat gold fluctuated wildly, with the precious metal entering a discount zone. India’s silver prices also fell precipitously.
In order to predict the probable trajectory of gold and silver prices between February 16 and February 21, investors will be closely monitoring important triggers as we begin the new week, including the minutes of the US Federal Reserve and significant economic data releases.
On other days, significant intraday swings drove the yellow metal into discount territory, even though domestic gold completed the week with slight losses. Significantly, according to Reuters, gold in India saw a decrease in price last week for the first time in almost a month.
On Sunday, February 15, the price of 24 carat gold in India was Rs 15,775 per gram. In India, the price of 22 carat gold was Rs 14,460 per gramme, while the price of 18 carat gold dropped by Rs 11,831 per gramme. In 2025, gold yielded a return of about 60%, and in January 2026, there were notable market fluctuations.
Over the past month, there has been significant volatility in the price of silver in India as well. But in the first half of February, the precious metal entered a corrective phase. In India, the price of silver ranged from Rs 275 per gram to Rs 2,75,000 a kilogram.
The MCX gold rate closed 0.2% higher at Rs 1,56,200 per 10 grammes on Friday for contracts expiring in April. At Rs 2,44,999 per kilogram, the MCX silver pricing for April contracts expiry closed 3.62% higher on Friday. Following a steep pullback in the first half of last week, international gold prices continued to recover on Friday, rising toward $5,030 per ounce.
Unless new geopolitical tensions, remarks from the US Federal Reserve, or any other factor cause investors to become concerned, gold and silver are likely to trade in a range-bound fashion. “Gold is currently consolidating within a defined range, with the $5,150-$5,180 zone acting as strong supply and $4,900-$4,950 as key demand.” Tushar Badjate, Director of Badjate Stock & Shares Pvt Ltd, stated that a weekly finish around $4,850–$4,900 might create downside possibilities toward $4,300–$4,350.
Global liquidity patterns and consistent central bank buying support the long-term prognosis, which is bullish. Gold and silver may continue to show significant momentum in the long run as mounting geopolitical concerns, trade tensions, and continuous central bank buying may fuel their gain. A clear breakout above $5,180 might spur the market upward toward $5,400–$5,600.
“Gold and silver in 2026 are witnessing a volatile corrective phase after last year’s sharp rally, though the broader multi-year bullish trend remains intact,” Tushar Badjate continued. “At this time, gold is range-bound and is waiting for a clear directional catalyst, but the broader trend continues to favor strength despite short-term consolidation.”
While silver has showed strong two-way movements near ₹2.41 lakh/kg while trading below previous high, MCX gold is consolidating around ₹1.55-1.58 lakh per 10g, according to Gaurvav Garg of Lemonn Markets Desk.
