Gold, Silver Prices Today Highlights: Gold crosses Rs 1.53 lakh; silver jumps over 3% on MCX

Gold futures on the MCX was trading 0.79 percent higher at Rs 1,52,607 per 10 grams of 24-carat purit as of at 5:24 pm IST on February 18. Silver futures continued, mirroring the international price, surged 3.17 percent to Rs 2,36,029 per kilogram. The spot price of gold on Comex was up 0.47 percent at $4,929 per ounce, while silver traded near $75.695 per ounce, with both metals holding firm in evening trade. Precious metals remained supported by global cues and currency movements, even as intraday volatility persisted.

Gold futures on the MCX were trading 0.79 percent higher at Rs 1,52,615 per 10 grams around 4:21 pm IST. Silver futures outperformed, rising 3.22 percent to Rs 2,36,145 per kilogram in late trade. In the international market, Comex gold was up 0.53 percent at $4,932 per ounce, while Comex silver gained 2.70 percent to trade at $75.525 per ounce. The rebound in precious metals comes amid global cues and continued volatility in currency markets.

"Spot Gold and silver rebounded to $4940/oz and $76/oz respectively after two consecutive sessions of losses as traders look forward to FOMC meeting minutes, US Core PCE number and speeches by several Fed officials for clues on US monetary policy. Recent FOMC commentary has been mixed as Fed Governor Michael Barr favors steady rates "for some time," while Chicago Fed's Austan Goolsbee sees cuts possible if inflation nears 2%. Yesterday, Gold closed below $4,880/oz, while silver closed at $73.50, both slipped to one-week lows weighed down by stronger dollar and improved geopolitical sentiment after Iran signaled a “general agreement” with the US on a potential nuclear deal. Looking ahead, Asian volumes remain muted across major markets due to ongoing Lunar New Year holidays (till Feb. 23), limiting liquidity and risking short-term swings in precious metals."

-Kaynat Chainwala, AVP Commodity Research, Kotak Securities

According to the Augmont Bullion Daily Report, published on Feb 18, 2026, gold and silver prices edged lower as easing geopolitical tensions reduced demand for safe-haven assets. Investors booked profits after the recent rally, while a stronger U.S. dollar emerged as the key drag on prices. Although softer January inflation supported rate-cut expectations, robust nonfarm payroll data and steady economic growth dampened hopes of aggressive easing. Developments such as renewed U.S.–Iran nuclear talks and Russia–Ukraine negotiations continue to offer underlying support. Markets now await the Federal Reserve’s January meeting minutes for clearer cues on interest rates.

"The week-long closure of major hubs like the Shanghai Gold Exchange (SGE) for the Lunar New Year creates a significant "liquidity vacuum" in the global bullion market. As the world’s largest physical buyers go offline, trading volumes thin out, often resulting in exaggerated price volatility and wider bid-ask spreads. Historically, this period triggers a price correction; once the pre-holiday buying pressure from China ceases, traders who entered positions early often engage in profit-taking, leading to a downward shift in momentum. Silver is particularly vulnerable during this timeframe compared to gold; because Chinese industrial production hits a standstill during the festivities, the dramatic drop in manufacturing demand makes silver prices much more susceptible to a sharp decline. With this perspective, it is advised to traders to avoid taking trades in bullion."

-Aamir Makda Commodity & Currency Analyst, Choice Broking

Gold futures on the MCX were up 0.94 percent at Rs 1,52,835 per 10 grams of 24-carat purity around 2:20 pm IST, extending gains in afternoon trade. In the international market, spot gold tumbled to an intraday low of $4,869 per ounce in early Wednesday deals but later recovered to hover above $4,942.50 per ounce, reflecting a 0.75 percent rise from the previous close. Silver futures mirrored the recovery, climbing 3.51 percent to Rs 2,36,819 per kilogram. On Comex, silver rebounded from a session low of $72 per ounce to trade near $75.805, marking a 3.08 percent gain.

The Indian Bullion Jewellers Association (IBJA) pegged the standard price of gold at Rs 1,51,963 for 10 grams of 999 purity on their 12:30 pm rate session on February 18, which is 0.51 percent from its previous close at Rs 1,51,195. These rates form the benchmark for the RBI’s Sovereign Gold Bond (SGB) valuations, calculated using the previous week’s average closing price. Aksha Kamboj, Vice President, IBJA, said gold is still trading at high levels compared to previous weeks, indicating that the general trend is merely paused rather than reversed.

Gold futures price on MCX was trading 1.19 percent higher at Rs 1,53,221 per 10 grams of 24-carat purity around 12:42 pm IST. Internationally, spot gold had slipped sharply in early Wednesday trade to a low of $4,869 per ounce, but later recovered part of the losses to trade just above $4,956.70 per ounce — up about 1.04 percent from the previous close. Silver futures also witnessed a strong rebound, rising 3.53 percent to Rs 2,36,868 per kilogram. On Comex, silver prices had fallen to an early low of $72 per ounce before trimming losses to trade near $75.555 per ounce, marking a gain of around 2.74 percent from the previous close.

Gold futures price on MCX was trading 1.05 percent higher at Rs 1,53,010 per 10 grams of 24-carat purity around 11:44 am IST. Internationally, spot gold had slipped sharply in early Wednesday trade to a low of $4,869 per ounce, but later recovered part of the losses to trade just above $4,950 per ounce — up about 0.66 percent from the previous close. Silver futures also witnessed a strong rebound, rising 3.12 percent to Rs 2,38,723 per kilogram. On Comex, silver prices had fallen to an early low of $72 per ounce before trimming losses to trade near $75.60 per ounce, marking a gain of around 1.04 percent from the previous close. The initial price decline was driven by weak global cues, selling pressure, a strong dollar, and heightened market volatility.

The Augmont Bullion report, published on February 18, noted that gold and silver edged lower as demand for safe-haven assets softened. In the near term, gold is expected to move in a consolidation band of $4,650–$5,100 (around Rs 1,47,000–Rs 1,60,000), with a buy-on-dips and sell-on-rallies strategy seen as appropriate. Silver is also likely to remain under pressure, trading within the $70–$90 range (approximately Rs 2,25,000–Rs 2,85,000). A similar buy-on-decline and sell-on-strength approach is recommended. However, a sustained break below $70 could open the door to further downside toward $64 (near Rs 2,00,000).

According to Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA), gold has dropped sharply from recent levels amid heavy profit-booking and a stronger dollar, triggering a broad sell-off in precious metals. However, the metal is still trading at high levels compared to previous weeks, indicating that the general trend is merely paused rather than reversed. She added that the silver market is experiencing a more severe downturn amid the broader commodity sell-off. Due to the silver market's higher volatility, the price drop has been more severe, influenced by both investment and industrial sentiment. While the current pressure may persist, intense corrections tend to attract buyers once markets calm down.

Domestic gold and silver futures remained firm despite mounting pressure from a stronger US dollar and cautious investor sentiment ahead of developments in US–Iran talks and fresh cues from the Federal Reserve. As of 9:51 am IST, gold was trading at Rs 1,53,175 per 10 grams of 24-carat purity, up 1.16 percent, while silver advanced 2.65 percent to Rs 2,34,850 per kilogram.

The domestic gold futures price on the MCX began the February 18 session on a strong note at Rs 1,52,899 per 10 grams for 24-carat gold, up nearly 1 percent from the previous close.

In the international market, spot gold prices witnessed a sharp early dip on Wednesday, falling to a low of $4,869 per ounce, before recovering to trade just above $4,938 per ounce at 3:38 am GMT, marking a gain of around 0.66 percent from the prior close.

Silver futures on the MCX opened at Rs 2,33,024 per kilogram on February 18, registering a jump of about 1.85 percent over the previous settlement, after recent weakness triggered by global cues, selling pressure and heightened volatility.

Globally, silver prices also fell sharply in early trade, touching $72 per ounce, but later pared losses to trade just above $74 per ounce at 3:34 am GMT on Comex, up around 1.04 percent from the previous close.

The spot price of gold fell sharply on Comex during early trade on February 18, slipping to a low of $4,869 per ounce, but recovered some of those losses to trade at $4,92 per ounce (2:58 am GMT), though still a decline of around 0.34 percent from its previous close. Silver also weakened in morning trade, touching $72 per ounce before recovering to just above $73, though it remained down roughly 0.07 percent on the day.

Ross Maxwell, Global Strategy Operations Lead, VT Markets, advises investors that buying on pullbacks, especially when real yields jump, or market sentiment becomes excessively bearish, can strengthen entry points. Investors are better off resisting the urge to chase sharp rallies, which often heighten volatility risk. Disciplined position sizing, phased accumulation, and a medium-term horizon are essential, since gold’s performance is increasingly shaped by cyclical forces and policy trends rather than pure momentum.

The Augmont Bullion report expects gold to trade within the $4,650–$5,100 range (Rs 1.47–1.60 lakh) in the short term. The recent decline is viewed as a correction rather than a trend reversal. Analysts recommend a tactical buy-on-dips and sell-on-rallies approach amid range-bound movement.

Ross Maxwell, Global Strategy Operations Lead, VT Markets, warns that higher-for-longer interest rates, a sustained dollar rally, or resilient economic data could cap gains and keep gold range-bound. In the near term, precious metals face pressure from easing safe-haven demand and improving global risk sentiment.

Augmont Bullion expects silver to trade weak and consolidate in the $70–$90 range. The recent decline is viewed as a short-term correction, not a trend shift. Traders are advised to buy on dips and sell on rallies, with downside risk below $70.

Manav Modi of Motilal Oswal said gold and silver extended losses as a firmer dollar and thin liquidity due to US and China holidays capped gains. Geopolitical tensions and policy uncertainty persist, but markets remain focused on Fed minutes and key US macroeconomic data releases.

Ross Maxwell of VT Markets advises investors to stay measured rather than aggressive. Gold remains a portfolio hedge against macro uncertainty and currency risks. Accumulating on dips, staggered buying, and disciplined position sizing are key, while avoiding momentum-driven rallies in volatile conditions.

Markets are increasingly pricing future monetary easing across major economies, which could lower real yields and reduce the opportunity cost of holding gold and silver. Ongoing geopolitical tensions, rising sovereign debt, and steady central-bank buying of bullion continue to provide an underlying layer of demand.