Gold slipped 0.67% today at Rs 1,53,722 per 10 grams; is now the right time to invest?

Bullion was near $5,000 an ounce, after falling 1% in the previous session.

• Gold futures on MCX closed at Rs 1,54,897, down 0.64 percent.
• Comex gold traded at $4,977 per ounce, down 1.36 percent.
• Gold prices to remain volatile due to global cues and dollar shifts.

Did our AI summary help?

The spot price of gold edged lower on Comex during early trade on February 17, but recovered some of those losses to trade at $4,977 per ounce, though still a decline of 1.36 percent from its previous close.

Even the domestic futures price of gold on the MCX opened the Tuesday's session low, and continues to trade in red at Rs 1,53,722 per 10 grams of 24-carat purity, down 0.67 percent from its previous close.

The Indian Bullion Jewellers Association (IBJA) pegged the standard price of gold at Rs 1,54,098 for 10 grams of 999 purity, up 0.87 percent from its previous close at Rs 1,52,765. These rates form the benchmark for the RBI’s Sovereign Gold Bond (SGB) valuations, calculated using the previous week’s average closing price.

The rupee traded largely flat on Monday near 90.62 as market participants remained cautious, while recovery in the secondary market after a weak opening helped stabilise the currency. Analysts say the broader tone remains range-bound, with immediate resistance near 90.25 and support around 90.90.

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said, “Gold opened weak following CME prices as investors were in early trade. The near-term trend appears volatile, with price action likely to remain range-bound between Rs 1,52,000 and Rs 1,57,000 over the next few sessions as participants track global cues and dollar movement."

Gold prices vary by purity. Check the prices of gold based on its purity

City-wise gold prices in India today

Gold rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs.

Why is gold price down? Should you invest?

According to Manav Modi, Commodities Analyst at Motilal Oswal Financial Services, gold and silver prices edged lower in early morning trade, extending prior losses as markets stayed cautious ahead of key economic cues, with thin liquidity due to holidays in China and the United States keeping activity subdued, while a firmer dollar pressured metals.

Safe-haven demand lingered amid geopolitical tension surrounding nuclear talks between Iran and the US, where military pressure is reportedly rising to force a deal. Sentiment was further restrained by policy uncertainty after President Donald Trump nominated Kevin Warsh to lead the Federal Reserve, raising questions over future rate direction.

Gold continues to hover around $5,000 per ounce as dollar strength offsets support from softer yields, while China’s tighter curbs on speculative futures trading and holiday closures reduced volumes and near-term direction. Markets now focus on upcoming U.S. data releases, including Federal Reserve minutes, industrial output figures, and the PCE price index, which could shape expectations for policy and bullion trends.