Gold, Silver Price Today Highlights: Gold hovers above Rs 1.52 lakh, silver rebounds to Rs 2.38 lakh after early slump

Gold prices traded steady on the MCX, holding at Rs 1,52,300 per 10 grams amid cautious global cues and range-bound trading. Silver, after slipping in early deals, was trading at Rs 2,39,393 per kg at 15:00 IST.

Globally, gold traded higher at 4,874.35/oz, up 2.06 percent, while silver jumped 4.13 percent to 73.83/oz, supported by strong buying sentiment.

Gold prices in the afternoon session traded higher, rising Rs 1,084, or 0.72 percent, to Rs 1,48,889 per 10 grams. Prices moved in a wide range during the session, touching a high of Rs 1,52,450 before easing. Silver prices fell Rs 6,616, or 2.71 percent, to Rs 2,34,063 per kg. The contract slipped despite hitting an intraday high of Rs 2,43,815, reflecting selling pressure.

Dr. Renisha Chainani, Head - Research at Augmont, "Easing geopolitical tensions reduced safe-haven demand for gold and silver. Confirmation of talks between Iranian and US officials in Oman has tempered risk sentiment, with investors closely tracking further developments in the negotiations."

The Indian Bullion and Jewellers Association of India has pegged the gold price at Rs 1,51,489, down 0.99 percent from Rs 1,53,012 per 10 grams of 24-carat purity, on its 12:30 rate session on Friday. Silver declined to Rs 2,41,184 from Rs 2,52,232 (down 4.38%), reflecting continued pressure across precious metal prices.

Silver has fallen behind NVIDIA to rank as the world’s third-most valuable asset by market capitalisation, after sliding nearly 46% from its recent peak of Rs 4,20,048 per kg on MCX. Data from companiesmarketcap.com shows silver’s market value at $4.177 trillion, marginally below Nvidia’s $4.184 trillion, while gold remains far ahead with a market capitalisation of $34.102 trillion as of Friday (February 6, 2026).

Read more: Silver slips behind NVIDIA to third place after sharp price crash

Gold is trading at Rs 1,49,396 per 10 grams, ending the session lower at 12:30 PM IST. Prices moved between a high of Rs 1,54,083 and a low of Rs 51,750, reflecting mild weakness in the yellow metal. On the other hand, Silver saw sharper losses, settling at Rs 2,29,187 per kg. The contract dropped Rs 7,816, or 3.21 percent, after hitting a high of Rs 2,43,815, indicating stronger selling pressure in silver compared to gold.

Silver slides sharply to Rs 2,37,750, down 2.49 percent, while gold trades nearly flat at Rs 1,52,054, marginally lower by 0.01 percent on February 6, as of 12:10 pm IST.  Metal prices are trading on red zone, as cautious sentiment and consolidation dominate bullion markets.

The decline coincided with weakening US labour market data. January job cuts rose to 108.4K, while initial jobless claims climbed to 231K, strengthening expectations of Federal Reserve rate cuts later this year. Markets are increasingly pricing in the first rate cut around June.

The Augmont Bullion report, published on February 6, noted that gold prices are likely to remain weak and consolidate within the $4,550–$5,100 range (Rs 140,000–Rs 160,000) in the short term. A decisive break below $4,550 could open the door toward the next support near $4,200 (Rs 30,000). "A buy-on-dips and sell-on-rallies approach is advisable."

Gold was trading at Rs 152,176 at 11:09 am, up 0.07 percent from the previous close, reflecting marginal gains amid subdued trading activity.

The Augmont Bullion report, published on February 6, said that silver is expected to trade weak and consolidate in the $70–$90 range (Rs 2,25,000–Rs 2,85,000). A breakdown below $70 may trigger further downside toward $64 (Rs 2,00,000). "Traders should follow a buy-on-dips, sell-on-rallies strategy."

RBI Governor Sanjay Malhotra said core inflation, excluding the volatility of precious metals, is expected to remain range-bound, signalling that underlying price pressures are not seen accelerating sharply from here.

The RBI on February 6, Friday, kept the repo rate unchanged at 5.25% and maintained its monetary policy stance at ‘neutral’.

Get the live updates: RBI MPC Meeting Live Updates

The domestic futures price of silver opened the Friday session weak at Rs 2,29,187,  but recovered some gains to trade at Rs 2,36,850, though a decline of 2.86 percent from its previous close at Rs 2,43,815 per kilogram. The metal's prices are down as forced liquidations eased, and dip buyers stepped in to capitalise on sharply lower prices.

The price of silver on Friday tumbled sharply by 5.18 percent to Rs 2,31,175, while gold slipped 1.36 percent to Rs 1,50,005 on MCX, tracking global weakness and profit-booking.

Gold opened marginally higher on MCX at Rs 1,52,260, up 0.12%, while silver started at Rs 2,46,452, rising Rs 2,637 or 1.08% in early trade. Will the domestic prices of precious metals mirror the fall in international prices?

The focus now shifts to US non-farm payrolls and unemployment data, which could set the next directional tone for gold and silver.

Traders are closely tracking today’s RBI monetary policy committee outcome, particularly repo rate and liquidity, as policy signals can influence the rupee, bond yields, and risk appetite, which are key drivers shaping near-term movements in gold and silver prices.

Get the latest update: RBI MPC Meeting Live Updates

China’s gold ETFs witnessed record daily outflows, with nearly $1 billion withdrawn from major bullion-backed funds after the sharp price correction unsettled investor confidence.

On the geopolitical front, Iran–US talks are scheduled for Friday, while President Trump held wide-ranging discussions with China’s Xi Jinping ahead of a proposed April visit, following Xi’s recent virtual meeting with Russia’s Vladimir Putin.

US ADP data showed private payrolls rose by just 22,000 in January, well below expectations of 48,000.

Fed Governor Lisa Cook signalled resistance to further rate cuts, citing persistent upside inflation risks despite signs of labour-market cooling.

The Aumont Bullion report, published on February 5, predicts that in the short term, gold prices are likely to remain weak and consolidate within the $4,550–$5,100 range. It advised a buy-on-dips and sell-on-rallies approach. Whereas, silver is expected to trade weak and consolidate in the $74–$91 range.

The spot price of gold was down 2.38 percent at $4,773 per ounce on Comex (02:04 am GMT). Silver was also down 8.14 precent at $70.47 per ounce.  The precious metals erased recent gains, snapping a two-day rebound as renewed selling pressure and heightened volatility returned to precious-metal markets.

Gold closed the Thursday session on MCX at Rs 1,52,260 per kilogram, up 1.08 per cent from the previous close. Silver closed the session at Rs 2,46,342 per kilogram, up 1.08 per cent from its last close. Friday's session will open the trade at 9 am.