Updated on: Feb 05, 2026, 3:42:31 PM IST
In a dramatic turn of events, gold and silver prices have experienced significant declines today across global, Asian, and Indian markets. This article provides a comprehensive overview of the current market situation, the reasons behind the fluctuations, and insights into why investing in these precious metals remains a popular choice.
Current Market Trends
As of today, gold and silver have erased earlier gains, reflecting a broader market sell-off. Spot gold has fallen by 1.7%, trading at $4,876.12 per ounce, while U.S. gold futures for April delivery have also seen a decline of 1.1%, now priced at $4,896.30 per ounce. Spot silver has plummeted by 12.4%, reaching $77.09 an ounce.
Key Prices in India
The following are the current prices for gold and silver in India:
Gold Prices:
24-carat gold (10 grams): ₹1,59,730
22-carat gold (10 grams): ₹1,46,440
Silver Prices:
Silver (1 kg): ₹3,37,100
Prices Across Major Cities
City
24-Carat Gold (10 grams)
22-Carat Gold (10 grams)
Silver (1 kg)
Bengaluru
₹1,59,560
₹1,46,270
₹3,311
Chennai
₹1,62,680
₹1,49,120
₹3,341
Delhi
₹1,59,730
₹1,46,440
₹3,371
Kolkata
₹1,59,570
₹1,46,280
₹3,321
Mumbai
₹1,59,590
₹1,46,300
₹3,361
Pune
₹1,59,610
₹1,46,320
₹3,381
Global Market Influences
The decline in precious metal prices is attributed to a stronger U.S. dollar and easing tensions in U.S.-China trade relations. As the dollar climbed to a near two-week high, gold and silver became more expensive for buyers using other currencies, further pressuring their prices.
Market Sentiment
Investor sentiment has turned cautious, particularly following a global sell-off in technology stocks. This has led to increased risk aversion, prompting investors to reduce their exposure across various markets, including precious metals.
Why Invest in Gold?
Gold has long been viewed as a safe and reliable investment. Here are some reasons why it remains a popular choice:
Hedge Against Inflation: Gold serves as a strong hedge against inflation, maintaining its value over time.
Portfolio Stability: It helps stabilize investment portfolios during periods of economic uncertainty.
Liquidity: Gold is highly liquid, making it easy to buy and sell.
Why Invest in Silver?
Silver is gaining traction as an attractive investment option due to its unique characteristics:
Dual Role: Silver functions both as a precious metal and an industrial commodity, making it versatile.
Jewelry Demand: In India, the demand for silver in the jewelry market remains robust.
Affordability: Silver is generally more affordable than gold, making it accessible for a broader range of investors.
Market Updates
As the day progresses, here are some key updates:
Feb 05, 2026, 3:42:25 PM IST: Gold and silver prices continue to slide as the dollar strengthens.
Feb 05, 2026, 3:12:49 PM IST: In Bhubaneswar, 22-carat gold is priced at ₹1,46,190.
Feb 05, 2026, 2:44:57 PM IST: Bhopal sees 22-carat gold priced at ₹1,46,390.
Future Outlook
Despite today’s downturn, analysts remain optimistic about the long-term prospects for gold and silver. Factors such as geopolitical tensions and economic uncertainties continue to support the demand for these precious metals. Major banks are maintaining bullish forecasts, with some predicting gold could reach as high as $6,000 an ounce in the future.
Conclusion
The fluctuations in gold and silver prices today highlight the dynamic nature of the commodities market. While current trends may seem discouraging, the long-term value of these precious metals as investment options remains strong. Investors should stay informed and consider both the risks and rewards associated with investing in gold and silver.
For ongoing updates, stay tuned to our live blog, where we will continue to provide real-time information on gold and silver rates.
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