Top News

Gold prices in India have continued their downward trend, with rates slipping further due to global market pressure and a strengthening US dollar. The ongoing international sell-off has weighed heavily on precious metal prices, pushing both gold and silver lower across domestic and global markets.

As of the morning of February 6, 2026, the price of 24-carat gold in Delhi has dropped to ₹1,54,560 per 10 grams, while in Mumbai, it stands at ₹1,54,410 per 10 grams. The decline reflects a broader global trend, where the spot price of gold has fallen to $4,826.99 per ounce in international markets.

Market experts suggest that gold prices are currently influenced by a combination of global economic factors, currency fluctuations, and investor sentiment, making short-term volatility likely.

Gold Price Trend: Why Are Rates Falling?

The primary reasons behind the current decline in gold prices include:

• Global profit booking and selling pressure

• Strengthening of the US dollar, making gold more expensive for foreign investors

• Shifting investor focus toward equities and other assets

• Uncertainty around global interest rate policies

Domestic gold prices in India continue to track global movements, along with local demand patterns, import duties, and currency exchange rates.

Latest Gold Prices in Major Indian Cities (Per 10 Grams)

Global Outlook: Could Gold Prices Rise Later This Year?

Despite the current dip, long-term forecasts remain optimistic. According to JP Morgan, gold prices could climb to $6,300 per ounce by the end of 2026, driven by:

• Strong demand from central banks

• Rising investor interest amid global uncertainties

• Increased gold purchases by central banks, estimated to reach around 800 tonnes in 2026

This suggests that while short-term price corrections may continue, gold could remain a strong hedge against inflation and economic instability in the long run.

Silver Prices Also Slide Sharply

Silver has also faced a significant price drop. On February 6, silver prices in India declined to ₹2,99,900 per kilogram, marking a steep fall from over ₹4,00,000 per kilogram recorded on January 30.

In international markets, spot silver is currently trading at $76.26 per ounce.

According to Kunal Shah, Vice President and Head of Commodities Research at Nirmal Bang Securities, the recent bullish phase in silver appears to have ended. He advises that:

• Any short-term price rally in silver should be used as an opportunity to sell rather than buy

• High volatility and unpredictable price swings have made silver riskier for short-term traders

What Investors Should Watch Going Forward

With precious metal prices reacting to global cues, investors should monitor:

• US dollar movement and global interest rate decisions

• Central bank gold purchase trends

• Inflation data and geopolitical developments

• Market sentiment in commodities and equities

For long-term investors, gold may still offer stability, while silver remains more suitable for high-risk traders due to its extreme price fluctuations.