Gold, Silver Rate Today (Feb 23) – Live Updates: Gold crosses Rs 1.60 lakh per 10 grams, silver gains nearly 6% at Rs 2.67 lakh per kg on MCX

"Gold prices have risen amid Trump’s tariff turmoil and uncertainty surrounding their legality. Even if the Supreme Court views the tariffs as invalid, ongoing trade tensions may still pressure the US dollar and support bullion. Beyond tariffs, factors such as central‑bank buying, expectations of lower US interest rates, persistent geopolitical risks, and slower global growth could continue to underpin gold in the long run, keeping its overall outlook constructive."

--Hareesh V, Head of Commodity Research, Geojit Investments Limited

“Gold traded positive after the US Court blocked President Trump’s reciprocal tariff framework, though the administration has retained a flat 15% import tariff under executive powers. This mixed development has revived uncertainty around global trade dynamics, prompting renewed safe-haven buying in bullion. 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. For now, immediate support is seen near ₹1,55,000, while resistance is placed around ₹1,62,000, with further direction dependent on fresh trade developments.."

--Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

Precious metals witnessed a strong uptick on February 23, with MCX Gold rising 1.93% to Rs 1,59,909. MCX Silver outperformed with a sharp 5.04% jump to Rs 2,65,700. In the international market, COMEX Gold gained 2.02% to reach $5,183.60, while COMEX Silver surged 5.46% to $86.835, reflecting broad-based strength across bullion markets.

"Gold’s renewed upswing after a healthy correction reflects a rebuilding of the geopolitical risk premium. Escalating US-Iran tensions and fresh uncertainty around US trade policy, mainly driven by the Supreme Court’s 6–3 ruling on Trump’s tariff framework and the president’s push for a new global levy, are pushing investors back toward safe havens. In this backdrop, gold is once again acting as insurance against tail risks in geopolitics and trade. From a credit rating perspective, the transmission is clearest in export-oriented manufacturers, shipping and logistics, and sectors like retail and pharma, where volatility in tariffs and currencies can squeeze margins. Banks and NBFCs with concentrated exposure to these segments may face modest asset quality pressures if volatility persists, while gold backed products should remain relatively resilient as long as the underlying collateral quality stays intact."

--Rajeev Sharan, Head – Criteria, Model Development & Research, Brickwork Ratings

Gold futures on the MCX were trading 1.74 percent higher at Rs 1,59,550 per 10 grams around 3:23 pm IST on February 23. Silver futures continued to outperform, rallying 4.64 percent to Rs 2,64,676 per kilogram. In the international market, Comex gold rose 1.70 percent to $5,167.30 per ounce, while Comex silver jumped 5.01 percent to $86.465 per ounce. The strong rally in precious metals reflects sustained safe-haven demand and firm global cues supporting bullion prices.

"Gold prices have risen amid Trump’s tariff turmoil and uncertainty surrounding their legality. Even if the Supreme Court views the tariffs as invalid, ongoing trade tensions may still pressure the US dollar and support bullion. Beyond tariffs, factors such as central‑bank buying, expectations of lower US interest rates, persistent geopolitical risks, and slower global growth could continue to underpin gold in the long run, keeping its overall outlook constructive."

--Hareesh V, Head of Commodity Research, Geojit Investments Limited

According to the Augmont – Gold for All report dated February 23, precious metals are drawing support from softer US macro cues and growing expectations of future Federal Reserve rate cuts. US Q4 GDP growth came in weaker than expected at around 1.4 percent annualised, signalling slowing economic momentum. The report noted that a weaker growth outlook combined with persistent inflation keeps the Fed in a data-dependent mode. Dollar softness amid trade uncertainty has further boosted bullion’s appeal, as lower real yields and a softer greenback typically favour non-yielding assets like gold and silver.

Gold futures on the MCX were trading 1.51 percent higher at Rs 1,59,239 per 10 grams around 1:27 pm IST on February 23. Silver futures outperformed, surging 4.05 percent to Rs 2,63,193 per kilogram. In the international market, Comex gold climbed 1.51 percent to $5,157.60 per ounce, while Comex silver rallied 4.03 percent to $85.660 per ounce. The sharp upmove in precious metals reflects strong safe-haven demand and firm global cues supporting bullion prices.

Dr. Renisha Chainani, Head of Research at Augmont – Gold for All, said, gold and silver have staged strong rebounds in recent sessions, with gold gaining about 4 percent and silver outperforming with nearly 10 percent upside. The rally has been largely driven by heightened safe-haven demand amid rising macro and geopolitical uncertainty. She noted that the rebound reflects fresh investor flows into bullion as risk assets weaken and concerns mount around global growth, trade policy, and geopolitical risks.

Gold and silver prices continued their upward trend on February 23 amid rising geopolitical tensions and President Trump's imposition of global tariffs. Gold price on MCX was hovering near Rs 1.60 lakh per 10 grams of 24-carat purity as of 12:17 pm IST, up 1.71 percent from the previous close. On Comex, the metal was trading 1.85 percent higher at $5,175 per ounce. Likewise, silver is up 4.7 percent on MCX, just above 2.64 lakh, and gained 5.16 percent on Comex at $86.59 per ounce.

Justin Khoo, Senior Market Analyst (APAC), VT Markets, says that markets are increasingly pricing in rate cuts as headline inflation cools to around 2.4 per cent, largely driven by lower energy prices. However, underlying inflation remains uneven, with essential costs still elevated. This creates a backdrop where the Federal Reserve is likely to move toward easing, but not in a ‘fast and furious’ manner. Current expectations indicate a high probability of no near-term rate cuts, with a more gradual, measured easing cycle likely to begin later, supported by shifting policy narratives and potential leadership changes.

In this environment, market behaviour is expected to remain driven by key technical levels and momentum rather than aggressive directional moves. Gold is likely to remain sensitive to interest rate expectations, with a focus on bearish price action around key Fibonacci retracement levels. At the same time, broader commodities such as silver and oil may see consolidation unless supported by stronger macro catalysts. Equities like the S&P 500 could continue to push higher in the near term but may face resistance, leading to potential pullbacks. Overall, markets are likely to remain range-bound, with traders focusing on price action signals within defined zones.

According to Manav Modi, Commodities Analyst at Motilal Oswal Financial Services, gold and silver rose to a more than three-week high, as the dollar fell after the US Supreme Court struck down a vast swathe of President Trump's tariffs on Friday and as US-Iran tensions simmered. The U.S. Supreme Court's decision to strike down a large swath of Trump's tariffs has weakened his ability to threaten and impose tariffs at a moment's notice, but it won't end gnawing uncertainty for trade partners or companies.

The U.S. Trade Representative, Jamieson Greer, said none of the countries that have reached trade deals with the U.S. had shared plans to withdraw following the judgment. The US Supreme Court did not mention anything on tariff refunds, but after the announcement, President Trump announced a temporary tariff of 15 perent and hoped for Congress as well to levy this tariff legally and permanently. Iran has indicated it is prepared to make concessions on its nuclear programme in talks with the US in return for the lifting of sanctions and recognition of its right to enrich uranium, as it seeks to avert a US attack.

Silver is witnessing a large drawdown of inventories across all warehouses, especially Comex, which is very significant, indicating tight supply and a surge in demand as China remains shut. The focus this week will be on US factory orders, consumer confidence, and PPI data.

Gold and silver prices remain supportive with gains of 1.7 percent and 4.92 per cent on February 23 (11:08 IST), since the previous close. Prices are up, especially after President Donald Trump announced a 15 per cent global tariff, which has rattled global risk assets, triggering a sharp risk-off rotation. Likewise, geopolitical cues, such as the US-Iran nuclear talks and Russia-Ukraine negotiations, are supporting safe-haven demand, but currency movements are currently driving prices more than they are.

Gold and silver prices remain supportive at 1.7 percent and 5.32 percent gains on February 23 (10:07 IST), since the previous close. Prices are up especially after President Donald Trump announced 15 percent global tariff, which has rattled global-risk assets, triggering a sharp risk-off rotation. Capital flowed toward safe-havens like gold, which rallied over 2 percent during the early trade. The US Supreme Court’s decision overturning earlier reciprocal tariffs, followed by the administration’s pivot to Section 122 duties, has injected fresh policy uncertainty.

Gold price on MCX continues to trade flat on February 23 (9:29 am IST) at Rs 1,59,812 per 10 grams of 24-carat purity, up 1.87 percent from the previous close. Likewise, silver is up 5.58 percent at Rs 2,67,070 per kilogram. Geopolitical cues, such as the US-Iran nuclear talks and Russia-Ukraine negotiations, are supporting safe-haven demand, but currency movements are currently driving prices more than they are.

Gold price on MCX opened the February 23 session higher at Rs 1,60,049 per 10 grams of 24-carat purity, up 2.02 percent from the previous close. Likewise, silver opened the trade higher at Rs 2,67,673 per kilogram, which is a 5.82 percent gain from the previous close.

Gold and silver prices edged higher on February 23 amid rising geopolitical tensions and a firmer dollar. Gold was trading 2% higher at $5,182 per ounce on Comex and closing at Rs 1,56,993 per 10 grams on MCX, while silver rose 5.65% to $86.90 per ounce and settled at Rs 2,53,501 per kilogram in domestic futures, as Fed minutes and China’s market reopening signal potential volatility ahead.