Overview
- After back‑to‑back declines, MCX futures rose on Feb 18 with gold up 1.24% to ₹1,53,294 per 10g and silver up 3.81% to ₹2,37,490 per kg on an intraday basis.
- Internationally, spot gold traded near $4,932 and silver around $75.6 on Feb 18, recovering part of Tuesday’s losses when gold dropped more than 2% and silver fell over 5%.
- Earlier on Feb 17, COMEX gold futures slipped to about $4,927 and COMEX silver fell roughly 4.5%, while Indian silver and gold ETFs posted broad declines of about 1%–4%.
- Market reports cite a stronger US dollar, reduced safe‑haven bids following signs of progress in US‑Iran and Russia‑Ukraine diplomacy, and holiday‑thinned liquidity across the US and Asia as key drivers.
- Indian retail benchmarks reflected the global move on Feb 17, with 24K prices around ₹15,659 per gram in major cities after daily drops of roughly ₹120–₹153, and traders now watching Fed minutes and US inflation data for cues.