Gold and silver prices in India witnessed a volatile start on Thursday, reflecting a combination of global market cues, currency movements and domestic trading sentiment. Bullion markets in key cities such as Delhi and Mumbai opened with a cautious tone as investors and jewellers responded to overnight developments in international commodity markets.
Gold prices showed signs of a mild correction after recent sharp fluctuations. In the domestic physical market, 24-carat gold was trading close to the ₹1.59 lakh mark per 10 grams, while 22-carat gold was quoted around ₹1.46 lakh per 10 grams. Prices in Delhi were marginally higher than those in Mumbai, a difference largely attributed to local levies and transportation costs. Market participants noted that despite the day’s softness, gold continues to trade at elevated levels compared to historical averages, supported by sustained investment demand and geopolitical uncertainty.
Silver prices, meanwhile, remained under pressure in early trade. The metal extended its recent decline after witnessing heavy volatility earlier this week. In major bullion hubs including Delhi and Mumbai, silver was trading near ₹3.2 lakh per kilogram in the physical market. Traders attributed the weakness to profit-booking and reduced risk appetite, especially after silver’s rapid ascent in previous sessions prompted aggressive selling.
Analysts tracking precious metals said global factors continue to play a decisive role in shaping domestic prices. A firmer US dollar and shifting expectations around global interest rates have weighed on non-yielding assets such as gold and silver. At the same time, mixed cues from international equity markets have led investors to reassess their exposure to safe-haven instruments.
In India, physical demand remains steady but cautious. Jewellers reported that retail buyers are closely tracking daily price movements before making large purchases, particularly ahead of the upcoming wedding season. While demand has not weakened significantly, high prices are encouraging staggered buying rather than bulk purchases.
Market experts believe that gold may continue to trade in a narrow but volatile range in the near term, balancing global macroeconomic signals against domestic demand. Silver, on the other hand, is expected to remain more volatile due to its dual role as both a precious and industrial metal.
Investors and consumers are advised to keep a close watch on daily price movements, as bullion rates can change rapidly in response to international developments and currency fluctuations. With global uncertainty still influencing sentiment, precious metals are likely to remain in focus for both long-term investors and short-term traders in the days ahead.
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Last Updated on: Thursday, February 5, 2026 12:52 pm by News Proton Team | Published by: News Proton Team on Thursday, February 5, 2026 12:52 pm | News Categories: General, Trending