Silver falls to ₹2.42 lakh per kg, while gold retreats from record highs amid profit booking
New Delhi (Economy India): Precious metal prices witnessed a sharp correction for the second consecutive day on Thursday, with silver plunging nearly ₹24,000 per kilogram in just two days, while gold slipped by almost ₹2,900 per 10 grams, according to data released by India Bullion and Jewellers Association (IBJA).
As per IBJA, silver prices dropped by ₹16,700 on Thursday to ₹2,42,433 per kg, compared with ₹2,59,133 per kg on Wednesday. On February 11, silver was trading at ₹2,66,449 per kg, marking a cumulative fall of around ₹24,000 in two trading sessions.
Gold prices also corrected sharply. 24-carat gold fell by ₹2,885 to ₹1,52,765 per 10 grams, down from ₹1,55,650 per 10 grams in the previous session.
Steep Decline After Record Highs
The sharp fall comes after precious metals hit all-time highs on January 29, when:
- Gold touched ₹1,76,121 per 10 grams
- Silver surged to ₹3,85,933 per kg
Market experts attribute the current decline to profit booking after an extraordinary rally, combined with easing global uncertainty and short-term correction in bullion prices.
Despite Correction, Strong Year-to-Date Gains Remain
Gold and Silver Still Up Sharply in 2026
Despite the recent fall, precious metals continue to post strong gains on a longer-term basis:
Since December 31, 2025 (44 days):
- Gold has risen ₹19,570, from ₹1,33,195 to ₹1,52,765 per 10 grams
- Silver has gained ₹12,013, from ₹2,30,420 to ₹2,42,433 per kg
Massive Rally in 2025
The previous year witnessed an unprecedented surge in bullion prices:
- Gold jumped by ₹57,000 (75%) in 2025, rising from ₹76,162 per 10 grams on December 31, 2024, to ₹1,33,195 by the end of 2025
- Silver skyrocketed by ₹1.44 lakh (167%), climbing from ₹86,017 per kg to ₹2,30,420 per kg during the same period
This historic rally was driven by global inflation risks, geopolitical tensions, and strong investor demand for safe-haven assets.
Advisory: Buy Only Hallmarked Gold
Consumers are advised to purchase only hallmarked gold certified by the Bureau of Indian Standards (BIS).
Hallmarked gold carries an alphanumeric identification code, ensuring purity and authenticity.
Analysts believe bullion prices may remain volatile in the near term, tracking global interest rate cues, currency movements, and geopolitical developments. However, long-term fundamentals for gold and silver continue to remain supportive.
