MCX Gold futures due April 2026 were down Rs 271, or 0.14%, at Rs 1,55,544 per 10 grams. Meanwhile, silver futures for March 5, 2026 delivery edged lower by Rs 8,166, or 0.33%, to Rs 2,43,452 per kg.
Effective today, the Multi Commodity Exchange of India (MCX) and the National Stock Exchange of India (NSE) have announced the withdrawal of additional margins on gold and silver futures contracts. MCX said it will remove the additional 3% margin on all gold futures contracts and the 7% additional margin on all silver futures contracts that were introduced earlier this month. The exchange has advised its clearing members to take note of the revision.
In a separate circular, NSE Clearing Ltd also stated that the additional margins — 3% on gold futures and 7% on silver futures — imposed on February 4 will stand withdrawn from February 19. Members have been asked to adjust their positions accordingly.
In the international market, gold prices edged lower on Thursday after rising more than 2% in the previous session, as the US dollar strengthened ahead of a key inflation report later this week that could offer further clues on the interest rate outlook. Spot gold fell 0.4% to $4,961.57 per ounce by 0112 GMT, following a 2.1% gain on Wednesday, while US gold futures for April delivery declined 0.6% to $4,981. The dollar climbed to its highest level in over a week, making greenback-denominated bullion more expensive for holders of other currencies. Spot silver also slipped 0.5% to $76.83 per ounce, after tumbling more than 5% in the previous session.
How should you trade gold?
Manoj Kumar Jain of Prithvi Finmart said gold and silver prices rebounded after two sessions of sharp declines, following reports that the US–Iran and Russia–Ukraine peace talks concluded on Wednesday without a resolution, reviving geopolitical concerns and prompting renewed safe-haven buying. However, uncertainty over US Federal Reserve rate cuts may cap further gains. The minutes of the recent FOMC meeting indicated that a majority of members favoured holding rates steady due to tariff-led inflation concerns, while two members supported a quarter-percentage-point cut. Jain noted that persistent rate-cut uncertainty and strength in the dollar index could restrict the upside in precious metals.
He added that volatility remains elevated in both metals, though silver may hold support at $63.90 per troy ounce and gold at $4,770 per troy ounce on a weekly closing basis. For the current session, gold has support at $4,964–$4,915 and resistance at $5,055–$5,122 per troy ounce, while silver has support at $74.40–$72.00 and resistance at $80.00–$82.40 per troy ounce. On MCX, gold is seen finding support at Rs 1,54,400–1,52,200 and resistance at Rs 1,56,800–1,59,100, while silver has support at Rs 2,38,000–2,32,800 and resistance at Rs 2,49,000–2,54,400. Jain advised booking profits on long positions at higher levels and avoiding fresh buying until the reopening of Chinese markets.
Gold rates in physical markets
Gold Price today in Delhi
Standard gold (22 carat) prices in Delhi stand at Rs 1,13,192/8 grams, while pure gold (24 carat) prices stand at Rs 1,23,472/8 grams.
Gold Price today in Mumbai
Standard gold (22 carat) prices in Mumbai stand at Rs 1,13,072/8 grams, while pure gold (24 carat) prices stand at Rs 1,23,352/8 grams.
Gold Price today in Chennai
Standard gold (22 carat) prices in Chennai stand at Rs 1,13,832/8 grams, while pure gold (24 carat) prices stand at Rs 1,24,184/8 grams.
Gold Price today in Hyderabad
Standard gold (22 carat) prices in Hyderabad stand at Rs 1,13,144/8 grams, while pure gold (24 carat) prices stand at Rs 1,23,352/8 grams.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)