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Gold and silver prices in India fell on MCX amid weak global trends, thin trading due to Presidents Day and Lunar New Year, profit-booking, and geopolitical tensions involving USS Gerald R. Ford.
By Anshul February 16, 2026, 3:52:50 PM IST (Published)
2 Min Read
Gold and silver prices in India declined on Monday (February 16), tracking a weak global trend and cautious investor sentiment. On the Multi Commodity Exchange (MCX), April gold futures fell ₹589, or 0.38%, to ₹1.55 lakh per 10 grams, while March silver futures dropped ₹3,630, or 1.49%, to ₹2.40 lakh per kilogram.
Global market correction
In overseas trade, Comex gold for April delivery slipped 0.48% to $5,021.99 per ounce, while Comex silver for March delivery declined 1.45% to $76.83 per ounce in New York.
Analysts said the decline followed last week’s rally, which had been driven by softer-than-expected US Consumer Price Index (CPI) inflation data.
Thin trading volumes
Trading volumes remained thin as US markets were closed for Presidents Day and Chinese markets remain shut for the Lunar New Year. Reduced participation contributed to sharper swings and limited momentum for bullion prices.
Geopolitical tensions
Gold received some support from safe-haven demand amid reports that the USS Gerald R Ford was deployed to the Middle East amid stalled Iran nuclear talks. Analysts said elevated geopolitical risks continue to influence investor sentiment toward precious metals.
Profit-booking after recent gains
Following last week’s rally, investors booked profits on gold and silver. Gold had briefly surpassed $5,000 per ounce, while silver had surged nearly 3% on Friday (February 13) before reversing course on Monday.
Expectations around Federal Reserve policy
Market participants are closely watching upcoming US Personal Consumption Expenditures (PCE) data and minutes from the Federal Open Market Committee (FOMC) meeting. Softer US inflation had previously raised hopes of rate cuts, which typically support bullion, but market adjustments have moderated gains this week.
Physical demand and regional dynamics
Despite global weakness, Chinese physical demand for gold remains strong, with Shanghai warehouse stocks exceeding 100 tonnes. In India, domestic silver demand remained muted, contributing to the decline in MCX prices.
Outlook
Analysts said gold is likely to remain around ₹1.55 lakh per 10 grams, while silver could test levels near ₹2.35 lakh per kilogram if global trends remain weak. Volatility is expected to continue until fresh US economic data provides further clarity.
-With PTI inputs
Note To Readers
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers should consult certified experts before making any investment decisions.
