Gold and Silver Prices Today: Gold and silver prices in India witnessed a decline on Thursday as investors resorted to profit booking after a sharp recent rally. A slightly stronger US dollar and cautious sentiment ahead of key inflation data also weighed on precious metal prices.
Gold and Silver Prices on MCX Today
In the domestic futures market, both gold and silver traded in the red on the Multi Commodity Exchange (MCX).
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Gold Price Today:
The February gold contract opened lower and traded at ₹1,34,736 per 10 grams in early deals. By midday, gold prices slipped further by 559, or 0.41%, to ₹1,34,335 per 10 grams. -
Silver Price Today:
Silver also faced selling pressure after its recent sharp surge. By afternoon trade, silver prices declined by ₹1,230, or 0.62%, to ₹2,06,205 per kilogram.
Why Are Gold and Silver Prices Falling?
Market participants are booking profits after gold and silver touched record highs in the previous session. Additionally, a mild recovery in the US dollar and caution ahead of upcoming inflation data have prompted investors to reduce exposure to precious metals.
Gold and Silver Support and Resistance Levels
According to market experts, the following technical levels are important to watch:
Gold (MCX)
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Support: ₹1,33,850 – ₹1,33,110 per 10 grams
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Resistance: ₹1,35,350 – ₹1,35,970 per 10 grams
Silver (MCX)
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Support: ₹2,05,650 – ₹2,03,280 per kilogram
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Resistance: ₹2,08,810 – ₹2,10,270 per kilogram
Gold and Silver Prices Rose Sharply on Wednesday
In the previous trading session, gold and silver had posted strong gains.
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Gold February futures on MCX closed 0.36% higher at ₹1,34,894 per 10 grams.
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Silver prices surged nearly 4.9% to settle at ₹2,07,435 per kilogram.
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During the session, silver also touched a record high of ₹2,07,833 per kilogram.
Gold–Silver Price Analysis
Google search trends show rising investor interest in gold and silver after their recent record highs. However, current price correction is driven by profit booking, as reflected in increased searches like “Is it right time to sell gold?” and “Gold price correction today.” A slightly stronger US dollar and caution ahead of global inflation data are also influencing sentiment. Google data indicates mixed outlook—short-term pressure but strong medium-term demand due to geopolitical uncertainty and expectations of future rate cuts. Silver remains more volatile than gold, with traders closely tracking industrial demand signals. Overall, trend suggests consolidation before next directional move.