Gold and Silver Prices in India Slip at Market Close on 17 February 2026 Amid Dollar Strength and Profit-Booking
On Tuesday, 17 February 2026, gold and silver prices in India closed lower as profit-booking intensified and global cues turned subdued. Both metals experienced downward pressure from a firmer U.S. dollar and thin trading volumes amid holiday closures in major Asian markets, leading to a risk-off environment for bullion. Domestic retail rates for 24 K and 22 K gold ended the session weaker, while silver’s correction deepened its recent downtrend. Global bullion also eased on improved geopolitical sentiment and a stronger greenback.
Market Close Prices (Retail – India, 17 Feb 2026)
| City | 24 K Gold (₹/10g) | 22 K Gold (₹/10g) | Silver (₹/kg) |
|---|---|---|---|
| Delhi | 1,56,430 | 1,43,390 | 2,60,000 |
| Mumbai | 1,56,430 | 1,43,390 | 2,60,000 |
| Chennai | 1,57,520* | 1,44,390* | 2,65,000* |
| Bengaluru | 1,56,430 | 1,43,390 | 2,60,000 |
| Hyderabad | 1,56,430 | 1,43,390 | 2,65,000 |
| Kolkata | 1,56,430 | 1,43,390 | 2,60,000 |
Approximate city variation. Retail prices reflect closing rates; local levies and jeweller premiums may differ.
Intraday Movement & Price Direction
Gold opened on a weaker footing and extended losses through the session, reflecting profit-taking after recent rallies and a lack of strong support from global bullion markets. Prices tested intraday lows near ₹1.53-1.54 lakh/10 g before closing near retail levels shown above. MCX futures for gold slipped about 0.8%-1.0%, indicating persistent selling pressure during the day. Silver showed greater volatility, with MCX futures down around 2% and physical silver markets seeing a sharper drop in kilogram rates, underscoring broader weakness in white metal sentiment.
Gold Price Analysis: Controlled Decline on Dollar Strength
Gold closed lower on 17 February 2026, with MCX futures down approximately 0.8%-1.0% during the session. Retail 24K gold in Delhi ended near ₹1,56,430 per 10g, after testing intraday support around ₹1.53-1.54 lakh.
The metal witnessed a relatively contained swing of about ₹1,500-₹2,000, reflecting measured profit-booking rather than aggressive selling. A firmer U.S. dollar remained the primary pressure point, while stable domestic demand limited deeper downside.
Technically, gold appears to be consolidating after recent gains, with volatility remaining moderate compared to silver.
Silver Price Analysis: Higher Volatility, Steeper Correction
Silver underperformed gold, with MCX futures declining nearly 2% intraday, almost double gold’s percentage fall. Retail silver closed around ₹2,60,000 per kg, with wider price swings of roughly ₹4,000-₹6,000.
The sharper move highlights silver’s higher beta nature and sensitivity to liquidity conditions. Unlike gold, silver breached short-term support levels more decisively before stabilising near the close.
Volatility in silver was roughly 1.8x-2x higher than gold, indicating speculative unwinding rather than structural weakness.
Gold vs Silver: Session Comparison at a Glance
| Metric | Gold | Silver |
|---|---|---|
| Intraday % Move | ↓ ~0.8–1.0% | ↓ ~2.0% |
| Intraday Swing | ₹1,500–₹2,000 | ₹4,000–₹6,000 |
| Volatility Profile | Moderate | High |
| Market Behaviour | Controlled consolidation | Sharper correction |
| Sensitivity Driver | Dollar & safe-haven flows | Liquidity & speculative unwinding |
Key Factors Driving Prices Today
- Stronger U.S. dollar: A firmer dollar index increased bullion’s cost in rupee terms, weighing on both gold and silver prices.
- Thin trading volumes: Major Asian markets, including China, remained largely on holiday for Lunar New Year, reducing liquidity and amplifying price swings.
- Profit-booking after prior rallies: Recent sharp rallies in precious metals prompted profit-taking among traders, contributing to the intraday sell-off.
What Today’s Close Signals for the Market
Today’s weakness at market close suggests a consolidation phase for both gold and silver after extended upward moves earlier in the year. The decline was not abrupt enough to indicate a broader reversal, but it underscores heightened sensitivity to the dollar and macroeconomic data flows. Volatility remains elevated, particularly for silver, with sharp retracements potentially signalling that recent speculative excesses are being unwound.
Verdict for Market Participants
The session’s close reflects a market digesting recent gains and recalibrating ahead of key macroeconomic releases, including U.S. data that could influence Federal Reserve policy expectations. While both metals held above significant technical supports at session close, continued attention to global cues and currency movements is likely to shape near-term price prospects.
Note: The analysis draws on live market data and reported retail prices as of 17 Feb 2026.
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