Gold, silver rates today: Gold and silver prices have remained volatile in recent sessions due to profit-booking at elevated levels, even as the medium- and long-term outlook for precious metals continues to be positive.
On Tuesday, MCX gold prices declined by more than ₹2,000, or 1.3%, to ₹1,56,001 per 10 grams, while MCX silver prices plunged over ₹5,500, or more than 2%, to ₹2,57,100 per kg.
Gold prices are currently trading around 16% below the record high price of ₹1,80,779 per 10 grams, reached on January 29. Meanwhile, silver prices are 59% away from the all-time high price of ₹4,08,487 per kg.
Due to volatility in the precious metals, gold and silver-linked ETFs have also witnessed a sharp fall in recent sessions after delivering strong returns in 2025 and early 2026.
On Tuesday, gold ETFs were mostly trading flat. Nippon India Gold BeES was marginally 0.03% down, whereas ICICI Prudential Gold was 0.15% up. Meanwhile, silver ETFs like Tata Silver Exchange and Nippon India Silver, ICICI Prudential Silver ETF, and HDFC Silver ETF lost up to 5%.
What’s behind the slump in gold, silver prices?
The pullback has mainly been attributed to profit-booking and changing macroeconomic expectations, particularly around a perceived pause in the US Federal Reserve’s rate-cut cycle.
The US Federal Reserve is largely expected to keep interest rates unchanged following three successive cuts since September 2025. This shift in outlook led gold prices to fall around 2–8% from recent peaks, before staging a mild recovery over the past week. Notably, the correction does not detract from gold’s long-term strategic appeal. The overall macro backdrop remains favourable, supported by constrained supply growth, persistent geopolitical risks, and sustained central bank buying, likely to stay near 2025 levels.
ETF inflows in India
In India, gold ETFs recorded their highest-ever net inflows in January 2026, according to AMFI data released on February 10.
Flows to gold ETFs more than doubled from the previous month to ₹24,040 crore, putting them just ahead of equity flows for the first time. “The surge suggests gold demand remained exceptionally strong, supported by continued investor preference for safe-haven and diversification exposure,” said Nehal Meshram, Senior Analyst, Morningstar Investment Research India.
Should you invest in gold and silver ETFs?
For small and marginal investors, gold and silver ETFs can be an attractive option as they offer ample liquidity, ease of purchase and sale, no concerns of depreciation, and eliminate making charges when selling, among other benefits.
“For investors considering gold and silver, ETFs can be a more convenient option compared to buying the metals physically. They enable even small investors to begin with just a few hundred rupees. This makes it easier for marginal investors to gain exposure to gold and silver through ETFs, something that can be challenging in the physical retail market,” said SEBI-registered investment expert Jitendra Solanki.
However, Sriram BKR, Senior Investment Strategist, Geojit Financial Services, cautioned that the current metal prices are still at elevated levels. If supported by new, sustainable fundamental factors, they may hold, though the current signals are mixed.
Furthermore, he added, “Global tensions and uncertainty may continue to support gold as long as they persist. Both asset classes appear due for a price consolidation, though timing such a move is extremely difficult. We continue to advise investors not to chase recent rallies and instead remain disciplined with asset allocation. Investors should exercise caution at these levels.”
Meanwhile, Rochan Pattnayak, Chief Investment Officer, Choice AMC Limited, suggested that investors approach gold with disciplined allocation rather than tactical overreaction.
“A calibrated exposure (for example, 10–15% of a diversified portfolio, depending on risk profile) can help strengthen resilience without resorting to concentrated bets during short-term volatility,” Pattnayak said.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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