Gold Rate in India Falls Rs 22,250 In 10 Days; Silver Down Too; More Price Correction Ahead? 9-13 Feb Outlook

Gold Rate in India: Gold prices witnessed sharp two-way movements last week but managed to close with marginal gains. Silver prices, meanwhile, remained volatile, ending the week with nominal losses after a zig-zag trading pattern. As fresh geopolitical tensions between Iran and the US and hawkish signals from the US Federal Reserve continue to shape investor sentiment, here's how gold and silver prices are likely to move in the coming week, starting February 9.

Weak US labour data, lingering geopolitical uncertainty, and trade tariff tensions are likely to impact gold and silver price movement in the coming days. Experts believe that gold and silver prices may see some upward movement, followed by a sharp correction in the last ten days.

Gold Rate in India

The price of 24 karat gold in India stood at Rs 15,660 per gram on Sunday,m February 8. The rate of 22 karat gold in India was at Rs 14,355 per gram. Likewise, the rate of 18 karat gold in India stood at Rs 11,745 per gram on Sunday. The rate of 24 karat gold stood at Rs 17,885 per gram on January 29. The price has declined around Rs 2225/gram (and Rs 22,250 per 10 gram) in ten days, as per Goodreturns data.

Silver Rate in India

The price of silver in India stood at Rs 285 per gram and to Rs 2,85,000 per kilogram. Silver rate in India saw a steep decline by January end after reaching to record high mark.

MCX Gold, Silver Prices

MCX Gold Futures (with April expiry) was down 0.26% at Rs 1,55,050 per 10 grams. Whereas, MCX Silver Futures (with March expiry) was down 0.16% at Rs 249499 per kilogram. Futures The international gold prices jumped nearly 3.5% to close at $4,950 per ounce on Friday, as per Trading Economics.

Gold, Silver Weekly Outlook

The price of gold and silver saw a steep decline in the last ten days. The decline was the part of the much needed price correction after the precious metals rally in last one month. Gold prices may see some volatility in the coming week, however, experts continue to remain bullish towards the precious metal in the long-term.

"Central bank purchases and ETF inflows continue to absorb a significant portion of global gold supply, providing a strong base of long-term demand. At the same time, ongoing geopolitical uncertainty and macro risks keep the safe-haven narrative relevant, even if flows ebb and flow in the short run," noted InCred Money team.

"Silver's case is further strengthened by its industrial role. Demand from technology, electronics, and renewable energy continues to outpace supply, leading to persistent structural deficits. This makes silver more volatile than gold, but also more sensitive to global growth and energy-transition themes," added the expert.

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