India's Precious Metals Market: Silver Stabilizes, Gold Holds Strong

Mumbai, February 9, 2026 - India's precious metals market saw a period of stabilization on February 8 and 9, 2026, following recent significant fluctuations. While silver prices held steady, gold rates remained unchanged, marking a pause in the recent sharp movements that have characterized the market.

Silver Finds Stability

The price of silver in India stood at approximately Rs 285 per gram (Rs 2,850 per 10 grams and Rs 2,85,000 per kilogram) on February 8. This stability comes after a turbulent period, with silver having dropped significantly earlier in the week. According to sources, silver prices are primarily influenced by international market trends, currency exchange rates, and industrial demand. Market observers expect the precious metal to maintain its current position unless there are major shifts in global trade dynamics or economic policies.

Gold Maintains Its Value

Gold prices in the country remained stable over the weekend. The price of 24 karat gold was pegged at Rs 1,56,600 per 10 grams, with 22 karat gold priced at Rs 1,43,550 per 10 grams. This stability followed a surge in gold prices on February 6, where 24K gold rose by Rs 2,890 per 10 grams and 22K gold increased by Rs 2,650 per 10 grams. Despite earlier dips due to Reserve Bank of India's policy decisions and fluctuations in the rupee-US dollar exchange rate, gold has shown resilience in recent days.

Market Outlook

The precious metals market in India is heavily influenced by both domestic and global factors. Rising inflation, interest rate changes, and global economic uncertainty often lead to increased demand for gold and silver as safe-haven assets. Additionally, geopolitical events and supply-demand dynamics play a crucial role in the daily fluctuations of these metals' prices. With the Indian government actively engaged in trade negotiations and economic reforms, the market remains cautiously optimistic about future stability.

City-Wise Price Snapshot

Across major Indian cities, gold and silver prices remained relatively consistent:

Mumbai: 24K gold at Rs 1,56,600 per 10g; Silver at Rs 2,850 per 10g
Delhi: 24K gold at Rs 1,56,750 per 10g; Silver at Rs 2,850 per 10g
Bangalore: 24K gold at Rs 1,56,600 per 10g; Silver at Rs 2,850 per 10g

Experts suggest that investors continue to monitor international market movements and currency fluctuations for potential buying opportunities.

India's Precious Metals Market: Silver Stabilizes, Gold Holds Strong

Silver Finds Stability

Gold Maintains Its Value

Market Outlook

City-Wise Price Snapshot

References