Gold Rate in India At 2-Week High Ahead of CPI Data; Silver Stays Stable | Will Prices Rise on 12 Feb? Outlook

Gold Rate in India: Gold prices in India surged on Wednesday, February 11, while silver rates remained largely steady. In the international commodities market, both gold and silver traded in a narrow range after stronger-than-expected US labour data dampened hopes of early and frequent rate cuts by the US Federal Reserve.

As markets head into Thursday's session, investors will closely track price movements alongside the release of India's January consumer price index (CPI) inflation data, which could influence broader market sentiment.

Gold Rate in India

The price of 24 kara gold in India increased to Rs 82 per gram to Rs 15,960 per gram on Wednesday, February 12. The rate of 22 karat gold in India jumped by Rs 75 per gram to Rs 14,630 per gram. The rate of 18 karat gold in India surged by Rs 61 per gram to Rs 11,970 per gram.

Silver Rate in India

Silver rate in India remained stable on Wedneday. The price of silver in India stood at Rs 290 per gram and to Rs 2,90,000 per kilogram. Silver rate in India has delivered around 160% return in one year.

MCX Gold, Silver Rate

MCX gold futures (with April expiry) closed marginally lower at Rs 1,56,550 per 10 gram on Wednesday. Whereas, MCX silver futures (with 5 March expiry) closed 0.12% lower at Rs 2,62,2701 per kilogram during the session. Meanwhile, the international gold rate remained close to $5,060 per ounce, according to Trading Economics. The range-bound movement of the precious metal in the international market came as stronger US labour data reduced the hope of stronger rate cuts by the US Federal Reserve.

US nonfarm payrolls data for January showed stronger hiring than markets expected, signalling steady labour demand. Employers added 130K jobs, beating forecasts of 70K and coming in much higher than the revised 48K figure reported for December, which had pointed to slower momentum.

Gold, Silver Price Outlook

Domestic gold prices may see some minor decline on Thursday, and may track the range-bound movement of the precious metals' prices in the international commodities market.

In the long-term, gold price will continue to showcase bullish trend, with prices reaching close to $6,000 per ounce by the end of the year 2026.

"With central banks continuing to accumulate gold, interest rate cycles turning supportive, and silver benefiting from rising industrial demand, precious metals are increasingly being viewed as core portfolio assets rather than tactical hedges. While short-term volatility is inevitable, the medium- to long-term case for maintaining measured exposure to gold and silver remains strong," stated Dr. Joseph Thomas, Head of Research, Emkay Wealth Management.