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New Delhi: Gold prices continued their downward trend for the third consecutive session on Saturday, reflecting profit booking and short-term volatility in global bullion markets. Along with gold, silver prices also witnessed a notable correction, easing further after a sharp rally earlier this year. The decline comes at a time when global investors remain cautious, even as long-term outlooks for precious metals remain optimistic.

As of 7 February 2026, the spot price of gold in the international market stood at $4,887.30 per ounce, while domestic prices in major Indian cities showed a marginal but consistent decline. In the national capital, 24-carat gold slipped to ₹1,53,850 per 10 grams, while 22-carat gold was priced at ₹1,41,040 per 10 grams.

Gold Rates in Major Indian Cities

Gold prices showed slight variations across cities due to local taxes and logistics costs. Here’s how gold is trading today:

• Delhi:

  • 22-carat gold: ₹1,41,040 per 10 grams

  • 24-carat gold: ₹1,53,850 per 10 grams

• Mumbai, Chennai, Kolkata & Hyderabad:

  • 22-carat gold: ₹1,40,890 per 10 grams

  • 24-carat gold: ₹1,53,700 per 10 grams

• Ahmedabad & Bhopal:

  • 22-carat gold: ₹1,40,940 per 10 grams

  • 24-carat gold: ₹1,53,750 per 10 grams

• Pune & Bengaluru:

  • 22-carat gold: ₹1,40,890 per 10 grams

  • 24-carat gold: ₹1,54,410 per 10 grams

• Jaipur, Lucknow & Chandigarh:

  • 22-carat gold: ₹1,41,040 per 10 grams

  • 24-carat gold: ₹1,53,850 per 10 grams

Despite the recent decline, gold prices are still trading at historically elevated levels.

Global Outlook: Bullish Signals Remain

While short-term corrections continue, global investment bank JP Morgan has maintained a strong bullish outlook on gold. The firm expects gold prices to potentially touch $6,300 per ounce by the end of 2026, driven by strong demand from central banks and institutional investors.

Analysts estimate that central banks across the world may collectively purchase nearly 800 tonnes of gold in 2026, reinforcing gold’s status as a safe-haven asset amid geopolitical uncertainty and currency fluctuations.

Silver Prices Extend Decline

Silver also remained under pressure. On Saturday morning, silver prices dropped to ₹2,74,900 per kilogram, continuing their downward trajectory. Just a few days ago, on 30 January, silver prices had crossed the ₹4 lakh per kg mark, highlighting the metal’s extreme volatility.

In overseas markets, silver was trading at around $74 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 be over for now. He advised investors to use any short-term rebound as an opportunity to sell rather than buy.

Expert Advice for Investors

Market experts warn that silver’s unpredictable price swings have made it difficult to trade in the short term. Excessive volatility has reduced its appeal for conservative investors, while traders are advised to exercise strict risk management.

Gold, on the other hand, continues to be seen as a long-term wealth preservation tool. Financial advisors suggest monitoring inflation trends, global interest rate movements, and central bank policies before making fresh investments.

What Lies Ahead

Although gold and silver prices are currently under pressure, long-term fundamentals remain intact—especially for gold. Investors are advised not to panic over short-term corrections and instead focus on broader economic indicators.

With global demand, central bank buying, and geopolitical risks in play, precious metals are expected to remain an important part of diversified investment portfolios in 2026.