Gold and Silver Prices Fall on February 17, 2026; Silver Drops ₹4,700, Gold Also Slips

New Delhi, February 17, 2026: Precious metals continued their downward trend on Tuesday, with gold and silver prices falling sharply in early trading. On the Multi Commodity Exchange (MCX), April 2026 gold futures fell by ₹1,200 per 10 grams, while March 5, 2026, silver futures dropped nearly ₹4,700 per kilogram.

At 10 a.m., gold was trading at ₹1,53,691 per 10 grams, down ₹1,069, and silver was at ₹2,36,500 per kilogram, down ₹3,391. In the previous session, April gold futures had closed at ₹1,54,897 per 10 grams, down ₹1,000 (0.64%), while March silver futures traded slightly higher at ₹2,40,201 per kilogram, up ₹310 (0.13%).

Reasons for the Decline

Global factors influenced the softening in precious metals. Asian markets, including China, Hong Kong, Singapore, Taiwan, and South Korea, were largely closed for Lunar New Year holidays, resulting in low trading activity. Additionally, a stronger US dollar exerted pressure on metals, making dollar-denominated gold more expensive for buyers in other currencies. The US Dollar Index rose 0.2%, limiting any significant upward movement in gold and silver prices.

International Market Trends

Gold prices also fell in international markets on Tuesday. Spot gold declined 0.9% to $4,947.98 per ounce, with April delivery US gold futures down 1.6% to $4,966.80 per ounce. Spot silver dropped 2.7% to $74.51 per ounce, falling over 3% intraday.

City-wise Gold Rates (8 grams)

• Delhi: Standard 22K – ₹1,14,832 | Pure 24K – ₹1,25,264
• Mumbai: Standard 22K – ₹1,14,712 | Pure 24K – ₹1,25,144
• Chennai: Standard 22K – ₹1,15,512 | Pure 24K – ₹1,26,016
• Hyderabad: Standard 22K – ₹1,14,712 | Pure 24K – ₹1,25,144

Expert Opinion

Manoj Kumar Jain of Prithvi Finmart noted that Chinese markets will remain closed throughout the week for Lunar New Year, limiting trading activity and upward price momentum. However, geopolitical risks and easing inflation in the US could provide support for precious metals. A decline in the US 10-year bond yield below 4.10% may also create a favorable environment for gold and silver. He advises traders to avoid new silver trades until market stability returns.