The price of gold and silver in the Indian markets rose on February 9, 2026, following the global trends in the commodity and new purchases by the futures market. A weaker US dollar, ongoing geopolitical unrest and unwavering investment demand made bullion, however, appealing and both metals gained significantly throughout the day.
Retail jewellers in big cities claimed that clients are furiously monitoring the day to day movements, particularly as the wedding season and investment buying is boosting the underlying demand. Although the prices are volatile, the sentiment has shifted to the positive following the recent rebound in the global markets.
Gold prices today
Gold experienced a good buying in the Multi Commodity Exchange and this was transferred to the physically higher market rates. It was supported by the fact that the traders anticipate that global demand will remain strong as well as the movement of the currency, they said.
Most cities had the price of 24 karat gold quoted at approximately Rs 1,56,590 per 10 grams in the retail market. The 22 karat variant that is most sold fetched close to Rs 1,43,540. The differences between cities were trivial and caused by the local taxes, transportation prices and margin of jewellers.
Players in the gold market observed that the metal is still appealing to investors seeking to stay stable in the mixed economic environment across the globe. Whenever there is question mark on the inflation or growth, the buyers move towards exposure on bullion which is customarily regarded as store of value.
The equation of the rupee to the US dollar is another factor that favours the domestic prices. Because it is a large importer of gold, any devaluation of the currency can result in an increase in the cost of purchases in the country even in case the international rates do not increase sharply.
Approximate city wise gold rates.
- Mumbai: 24K Rs 1,56,590 | 22K Rs 1,43,540
- Chennai: 24K Rs 1,57,300 | 22K Rs 1,44,190
- Kolkata: 24K Rs 1,56,590 | 22K Rs 1,43,540
- Bengaluru: 24K Rs 1,56,590 | 22K Rs 1,43,540
- Hyderabad: 24K Rs 1,56,590 | 22K Rs 1,43,540
- Ahmedabad: 24K Rs 1,56,640 | 22K Rs 1,43,590
- Jaipur: 24K Rs 1,56,740 | 22K Rs 1,43,690
- Lucknow: 24K Rs 1,56,740 | 22K Rs 1,43,690
- Pune: 24K Rs 1,56,590 | 22K Rs 1,43,540
- Delhi: 24K Rs 1,56,740 | 22K Rs 1,43,690
Footfall is consistent, according to jewellers, although some customers are holding back until they see minor improvements before they can afford to make big purchases. The demand to invest in coins and bars has also been boosted as the prices are back on track.
Silver prices today
Silver was better than gold in the session, recording higher gains in the futures and physical market. Analysts can be credited with the robust movement back to the industrial demand expectations and an increase in the speculative activity.
Silver was being sold at approximately Rs 2,84,900 a kilogram in spot markets. On smaller scale it was almost equal to almost Rs 2,849 per 10 grams. Silver is normally subject to greater price fluctuations than gold due to investment purchases and consumption by industry.
Traders noted that every time the global economic optimism is improved, silver can be able to surge more rapidly because of its place in manufacturing, electronic and renewable energy industries. Meanwhile, safe haven interest also provides additional support in the case of uncertain markets.
Retailers stated that silver articles, utensils and jewellery demand is steady in most areas of the country especially in areas where silver is used as a substitute to gold due to its affordability and cultural inclination.
Silver rates (approximately) in the cities.
There were very similar prices in most centres.
- Delhi: Rs 2,849 per 10 grams
- Mumbai: Rs 2,849 per 10 grams
- Chennai: Rs 2,849 per 10 grams
- Kolkata: Rs 2,849 per 10 grams
- Bengaluru: Rs 2,849 per 10 grams
- Hyderabad: Rs 2,849 per 10 grams
- Ahmedabad: Rs 2,849 per 10 grams
- Jaipur: Rs 2,849 per 10 grams
- Lucknow: Rs 2,849 per 10 grams
- Pune: Rs 2,849 per 10 grams
What is driving the rally
Bullion analysts believe that there is a mix of both global and local phenomena that is dictating day-to-day price movement. Moves in the dollar, anticipation of the interest rates, and capital inflows to the international markets are the main factors. Any alteration in these triggers could push quickly the prices either up or down in India.
For now, the tone remains firm. The traders feel that so long as the markets overseas remain conducive and the currency situations do not become unfavorable then gold and silver can experience buying on dips.
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Nevertheless, volatility will be relatively elevated. Buyers that intend to make jewellery purchases are being encouraged to keep a regular checking on the rates and enquire to local retailers on the making of charges and taxes which may differ.
As the world cues remain in the limelight, the following few sessions will be critical in determining whether bullion will be able to continue the current trend or will profit booking occur at a higher plane.
