MCX Gold, Silver Rates Today After RBI Policy Decision on 6 Feb; Gold Recovers, Silver Under Selling Pressure

Gold prices traded sharply lower on Friday after the Reserve Bank of India (RBI) decided to keep the repo rate unchanged, a move that dampened near-term expectations of monetary easing and weighed on sentiment in the domestic bullion market.

Gold, Silver Rates Today: Latest Prices on 6 February 2026 After RBI Monetary Policy Announcement

MCX Gold Rates Today, 6 February 2026

On the Multi Commodity Exchange (MCX), gold opened significantly lower and remained under pressure in early trade. The yellow metal began the session at Rs 1,49,396 per 10 grams, plunging Rs 2,675, or 1.76 percent, from its previous close of Rs 1,52,071.

MCX Gold April 2026 futures slipped Rs 2,675, or 1.76 percent, from the previous close of Rs 1,52,071. During early trade, prices moved a high of Rs 1,54,083. At around 11:53 AM, gold was trading at Rs 1,52,560, up Rs 489, or 0.32 percent, from the previous close.

Market participants said the RBI's decision to maintain status quo on interest rates reduced immediate hopes of lower borrowing costs, limiting fresh buying interest in gold despite ongoing global uncertainty.

"Excluding precious metals, underlying inflation pressures remain muted, with December inflation excluding gold at 2.6%. Overall, while some uptick in inflation is expected, the broader inflation outlook remains manageable," said Mr. Vinayak Magotra, Product Head & Founding Team, Centricity WealthTech.

Silver Underperforms, Slides Nearly 6% Intraday on MCX

Silver witnessed steeper losses compared to gold. MCX silver opened sharply lower at Rs 2,34,063 per kg, down Rs 9,752, or nearly 4 percent, from its previous close of Rs 2,43,815.

MCX Silver March 2026 futures prices extended losses during the session and touched an intraday low of Rs 2,29,187. At around 11:54 AM, silver was trading at Rs 2,39,109 per kg, down Rs 4,706, or 1.93 percent, from the previous close.

In international markets, precious metals edged higher on Friday but remained on track for a second consecutive weekly decline. Gold and silver faced pressure amid a sharp sell-off in global technology stocks and a stronger US dollar, which erased gains seen during a brief mid-week rebound.

Spot Gold Price Today

Spot gold rose 1.1 percent to $4,822.69 per ounce by 03.20 GMT, though it was still down 1.2 per cent for the week. Meanwhile, US gold futures for April delivery slipped 1 per cent to $4,840.40 per ounce.

Spot silver gained 0.4 per cent to $71.50 per ounce, rebounding after a dramatic 19.1 per cent plunge in the previous session. Trading remained highly volatile, with prices swinging sharply after briefly falling below the $65 level, a more than one-and-a-half-month low.

Gold Rebounds Overseas, But Pressure Persists

Gold prices climbed toward $4,870 per ounce later in the session, reversing earlier losses as markets navigated heightened volatility. However, the metal has lost most of its year-to-date gains, weighed down by sustained selling after repeatedly hitting record highs in January.

Weaker US labour market data-including job cuts rising to 108,400 in January, initial claims increasing to 231,000, and ADP payrolls missing expectations-strengthened bets that the US Federal Reserve may begin cutting rates from June. While this outlook offered some support to gold globally, it failed to offset near-term selling pressure.

On the geopolitical front, the White House reiterated that President Donald Trump prefers a diplomatic solution with Iran, helping ease immediate safe-haven demand.

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