Gold witnessed a significant rebound on MCX today, with prices jumping to ₹1.56 Lakh/10g. Silver also recovered, while experts suggest buying opportunities given recent dips.
| Purity | Per Gram | Per 10g | Change |
|---|---|---|---|
| 24K Gold | ₹15,660INR | ₹1,56,600 | — |
| 22K Gold | ₹14,355 | ₹1,43,550 | — |
| 18K Gold | ₹11,745 | ₹1,17,450 | — |
Source: GoldMeter.in • Historical data for reference only
The Indian gold market saw a notable turnaround today, 8 February 2026, as MCX Gold prices experienced a significant jump. After a period of recent volatility and decline, the precious metal rebounded sharply, providing a fresh perspective for investors and jewelry shoppers alike. While some city-specific spot rates reported stability, the overall sentiment was driven by the strong performance on the multi-commodity exchange.
On the Multi Commodity Exchange (MCX), gold witnessed a substantial rise of ₹2,890, pushing the price for 10 grams to ₹1.56 Lakh. This surge comes after a challenging period where gold had slipped 12% in just 10 days following a record surge, and was trading as much as 40% below its all-time highs. The market also saw gold whipsaw 21% before snapping back, indicating high volatility but underlying resilience. Similarly, silver also showed signs of recovery, with MCX Silver rebounding to ₹2.85 Lakh per kilogram, despite its ETFs tumbling a sharp 38% in the past seven trading sessions. Local rates in cities like Hyderabad were reported to be stable, while prices in major metropolitan areas such as Delhi, Mumbai, Chennai, and Bengaluru saw varied movements.
Globally, market movements were influenced by factors like the dollar nearing 98 following a "Warsh pick," which jolted broader markets. However, the primary focus for gold's future trajectory remains the upcoming US inflation data. Analysts suggest that precious metals may stay firm in anticipation of this crucial economic indicator, though silver is expected to remain volatile given its industrial demand components.
For Indian investors and jewelry shoppers, today's rebound presents an interesting juncture. With gold prices still considerably below their record highs, many market observers are questioning if this is the opportune moment to buy. The recent dip and today's recovery could indeed signal a potential buying window for those looking to invest or make jewelry purchases, especially with the outlook suggesting gold may hold firm. However, prospective buyers should remain mindful of the ongoing volatility in silver and the broader market's sensitivity to upcoming global economic data.