As of today, February 10, 2026, the Indian bullion market is experiencing a cooling-off period following a massive volatility streak in late January. While the gold and silver rates had hit eye-watering record highs recently (Gold nearing ₹1.80 Lakh and Silver crossing ₹4 Lakh per kg), today’s session shows the markets consolidating at slightly lower, yet historically high, levels.
Gold and silver rates in India have witnessed a slight retreat today, a classic mean reversion, as traders book profits following the recent rally. This cooling off is a healthy correction in a long-term bull cycle, driven primarily by a corrective bounce in the US Dollar Index (DXY) and a sudden uptick in US 10-year Treasury yields.
Today’s Gold & Silver Rates
The following tables reflect the intraday softening of rates across the physical markets in India. These prices are inclusive of the prevailing 6% import duty and 3% GST, capturing the sober reality of today’s trading floor.
Gold Rate Benchmarks (24K Fine Gold)
Domestic gold rates have seen a marginal contraction, primarily driven by a stronger Rupee and a dip in international spot prices.
| Weight | Today’s Price (24K) | Price Change (vs. Yesterday) |
| 1 Gram | ₹8,395 | -₹25 |
| 8 Grams | ₹67,160 | -₹200 |
| 10 Grams | ₹83,950 | -₹250 |
| 100 Grams | ₹8,39,500 | -₹2,500 |
Silver Price Benchmarks (999 Fineness)
Silver has faced sharper selling pressure than gold, reflecting its higher sensitivity to industrial sentiment and US Dollar fluctuations.
| Weight | Today’s Price (Silver) | Price Change (vs. Yesterday) |
| 1 Gram | ₹100.80 | -₹1.20 |
| 8 Grams | ₹806.40 | -₹9.60 |
| 10 Grams | ₹1,008 | -₹12 |
| 100 Grams | ₹10,080 | -₹120 |
| 1 Kilogram | ₹1,00,800 | -₹1,200 |
Gold Rate by Purity
The correction is consistent across all purity levels, offering a slight reprieve for consumers currently purchasing for the upcoming wedding dates.
| Purity Level | Price (per gram) | Absolute Change | Percentage Change |
| 24K Gold (999) | ₹8,395 | -₹25 | -0.30% |
| 22K Gold (916) | ₹7,695 | -₹23 | -0.30% |
| 18K Gold (750) | ₹6,296 | -₹19 | -0.30% |
Today, the MCX-LBMA spread narrowed to nearly flat. Usually, Indian prices trade at a premium due to import costs. Today’s narrowing indicates that domestic sellers are more aggressive than global ones. This often happens when local jewellers have sufficient ‘ready stock’ and are not rushing to the banks for new imports.
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Gold & Silver Rate Movement Summary
The marginal decrease of 0.30% in the gold rate and the 1.18% drop in silver today reflect a shift in short-term sentiment. Globally, spot gold is trading near $2,835 per ounce, down from its recent peak. In India, the Rupee has shown unexpected resilience, trading at 84.35 against the Dollar. This localised strength in the INR further lowers the landed cost of bullion, compounding the global price drop for Indian buyers.
Why Gold & Silver Rates Moved Today
The decrease in rates today is not a sign of fundamental weakness but a technical recalibration. Three factors converged this morning:
- US 10-Year Yield Spike: The yield on the US 10-year treasury note rose to 3.91% today. Since gold does not pay a coupon, investors often sell bullion to capture the higher, risk-free returns offered by US bonds.
- DXY Resistance: The Dollar Index (DXY) hit a technical support level and bounced back to 103.2. A stronger dollar makes gold more expensive for European and Asian buyers, leading to a natural dip in global spot demand.
- Long Unwinding on MCX: On the Multi Commodity Exchange, traders who bought gold at ₹82,000 last month are now unwinding their positions. This selling pressure in the futures market drags down the physical spot price in India.
Impact of Today’s Gold Rate Move in Indian Finance Ecosystem
A price drop creates a specific set of ripples in the Indian financial ecosystem:
- LTV Tightening for Gold Loans: When gold rates fall, the Loan-to-Value (LTV) ratio for gold loan companies (like Muthoot or Manappuram) tightens. If prices fall significantly, borrowers might be asked for additional collateral. Today’s minor dip is a warning sign for lenders to watch their margins.
- Import Premium Compression: The premium charged by authorised banks to bullion dealers has dropped from ₹300 to ₹100 per 10 grams. This suggests that the immediate urgency for “fresh gold” has cooled off, providing a better window for large-scale procurement by wholesalers.
- Retail Sidelining: Ironically, a small price fall often slows down retail sales. Indian buyers tend to wait during a dip, hoping for a further slide. This wait-and-watch behaviour temporarily lowers the daily turnover in jewellery hubs.
Gold Price Trend
Despite today’s dip, the last 30-day chart remains in a structural uptrend, characterised by higher floors.
| Date | 24K Price (per 10g) | 22K Price (per 10g) | 18K Price (per 10g) |
| Feb 10, 2026 | ₹83,950 | ₹76,950 | ₹62,960 |
| Feb 03, 2026 | ₹83,950 | ₹76,950 | ₹62,960 |
| Jan 27, 2026 | ₹83,100 | ₹76,175 | ₹62,325 |
| Jan 20, 2026 | ₹82,450 | ₹75,580 | ₹61,840 |
| Jan 13, 2026 | ₹81,900 | ₹75,075 | ₹61,425 |
Is This Price Drop the Cue to Buy More?
Digital gold & silver rates dropping faster than physical jewellery rates is a unique phenomenon in the world of bullion. This is because digital platforms are linked to the real-time MCX ticker, while physical jewellers often hold their morning rates. This ‘arbitrage window’ allowed digital buyers to lock in prices.
Today’s decrease of ~₹250 per 10 grams is more of a ‘technical correction’ within a larger bull market. For those who missed the rally in January, this dip represents a lower-risk entry point. However, the decision to buy must be governed by your time horizon.
If you are a short-term trader, the current volatility suggests waiting for the price to stabilise around the ₹83,500 support level. If you are a long-term investor or a wedding-season buyer, history shows that waiting for the bottom in a bull market often results in missing the bus entirely.
The current dip is a gift of liquidity in a market that is otherwise extremely tight. Buying here allows you to average your costs without the stress of chasing a runaway peak.
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Conclusion and Key Takeaways
The market has a firm hand that can crush speculators, but it also has a soft touch for the disciplined saver. Today’s gold & silver rate fall is a necessary recalibration, ensuring that the market does not become unsustainably overheated. While the headlines focus on the decrease, a strategist looks at the resilience of the support levels. Gold remains the ultimate hedge against a volatile 2026, and today’s price action only confirms its role as a disciplined asset class.
- Support is Holding: The ₹83,500 – ₹83,800 range for 24K gold is proving to be a strong accumulation zone for institutional buyers.
- Silver’s High: Silver’s drop to ₹1,00,800 makes it an attractive play for those looking for a sharp rebound when the industrial cycle picks up.
- Watch the DXY: Any reversal in the US Dollar Index back toward 102 will likely send gold prices soaring past the ₹85,000 mark.
- Staggered Accumulation: It could be wise to use today’s dip to buy in small lots. This ‘SIP’ approach in bullion remains the most effective way to navigate the 2026 price landscape.
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| Disclaimer: This analysis is provided for educational and informational purposes only. It does not constitute a solicitation, recommendation, or promotion to invest in or trade any specific stocks, commodities, or financial instruments. The insights shared here aim to explain the underlying mechanics of price fluctuations and potential market steps. Bullion trading involves significant risk; individual financial choices based on personal experience and professional consultation remain superior. This content serves purely as a guide of details and not as a directive for capital allocation. |
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