Gold and Silver Prices in India End Lower on February 6: Silver Crashes 6%, Gold Dips at Market Close

StartupTalky Official

06 Feb 2026 — 3 min read

Gold and Silver Prices in India End Lower on February 6: Silver Crashes 6%, Gold Dips at Market Close

Gold and silver prices in India closed lower on February 6, 2026, amid heightened volatility and profit-booking pressure. Gold held relatively firm above ₹1.52 lakh per 10 grams on MCX but edged down, while silver extended losses with a sharp 6% crash on MCX futures. A stronger US dollar and easing geopolitical tensions weighed on sentiment, overshadowing steady domestic demand.

Market Close Gold and Silver Prices

Retail closing rates for gold and silver across key cities showed declines, reflecting MCX weakness and local making charges. Prices are indicative and may vary due to local taxes, purity, and jeweller premiums.

City	24K Gold (₹/10g) Today	24K Gold (₹/10g) Yesterday	22K Gold (₹/10g)	Silver (₹/kg) Today	Silver (₹/kg) Yesterday
Delhi	1,54,560	1,56,000	1,41,690	2,80,000	3,00,000
Mumbai	1,54,410	1,55,800	1,41,540	2,80,000	3,00,000
Chennai	1,56,210	1,57,700	1,43,190	2,80,000	3,00,000
Bengaluru	1,54,410	1,55,800	1,41,540	2,80,000	3,00,000
Hyderabad	1,54,410	1,55,800	1,41,540	2,80,000	3,00,000
Kolkata	1,54,410	1,55,800	1,41,540	2,80,000	3,00,000

Intraday Gold and Silver Movement

Gold MCX futures opened around ₹1,52,260 per 10g but fluctuated widely, hitting highs near ₹1,54,000 before closing down 0.82% at ₹1,50,316 for the March contract, a ₹1,230 drop. Silver saw sharper swings, opening higher but crashing to intraday lows amid heavy selling, rebounding partially to close near ₹2,39,000/kg after a 6% plunge overall. Volatility was pronounced in silver, with ₹10,000+ intraday moves, compared to gold's more controlled range.

Gold Price Analysis

Gold retail prices dipped ₹1,000-1,400 per 10g from yesterday's closes, mirroring a 0.8-0.9% MCX decline despite safe-haven bids. A firmer dollar index near two-week highs and rupee weakness around ₹90.27/USD curbed import cost relief, while global spot gold fell 2.38% to $4,773/oz on Comex. Prices consolidated post-RBI's neutral stance on repo rate at 5.25%, testing support above ₹1.50 lakh amid profit-booking after recent peaks.

Silver Price Analysis

Silver retail rates tumbled ₹20,000/kg uniformly across cities, outpacing gold's dip with nearly 7% losses versus yesterday. MCX silver plunged 6% intraday, erasing early rebounds and hitting lows near ₹2,30,000/kg before partial recovery, driven by industrial demand worries amid tech stock selloffs. Higher volatility stemmed from leveraged positions unwinding, with global Comex silver down 8% to $70.47/oz, underperforming gold significantly.

Key Factors Driving Gold and Silver Prices Today

Stronger US Dollar: Dollar index hit near two-week highs, pressuring bullion; USD-INR at ₹90.27 added import cost friction.
Easing Geopolitical Tensions: Iran-US talks in Oman and Trump-Xi discussions reduced safe-haven flows, prompting profit-booking.
Weak Global Cues: Comex gold/silver down 2-8%; China ETF outflows of $1bn signalled fading investor confidence.
RBI Policy Stance: Neutral MPC outlook with unchanged 5.25% repo tempered rate-cut hopes, stabilising rupee but capping upside.
US Data Pressures: Soft ADP payrolls (22k vs 48k expected) and rising jobless claims boosted Fed cut odds but triggered short-term selling.

Market Takeaways from Today’s Close

Today's mixed close with gold's resilience contrasting silver's crash points to consolidation amid elevated volatility, as metals digest recent rallies. Profit-booking dominated after multi-session gains, but dips drew selective buying, hinting at range-bound trade in ₹1.48-1.54 lakh gold and ₹2.30-2.50 lakh silver absent fresh catalysts. Increased intraday swings reflect fragile sentiment, with silver's outsized drop signalling higher beta to risk-off moves.