Overview
- MCX quotes show gold futures rising to roughly ₹1.56–1.57 lakh per 10g and silver futures trading in a broad ₹2.45–₹2.73 lakh per kg range, with major metros reporting spot gold near ₹1.57–₹1.59 lakh per 10g.
- Silver’s swings remain intense, from about ₹3.50 lakh/kg on February 1 to a multi‑month low near ₹2.55 lakh on February 18, then a rebound and brief pause around ₹2.69–₹2.70 lakh.
- Safe‑haven demand strengthened as US–Iran tensions escalated, with President Donald Trump setting a short deadline for nuclear talks, while analysts said a firm dollar and uncertain Fed timing could cap further gains.
- India’s revised CPI (base 2024) showed January inflation at 2.75% as higher jewellery weights made precious‑metal price jumps more visible in the headline reading.
- Commerce ministry data reflected pricier gold and silver in a wider January merchandise trade deficit of $34.68 billion, and reported figures indicated January gold ETF inflows of about ₹24,039 crore surpassed equity mutual fund net inflows.