Gold and silver prices have witnessed a significant correction over the past week, offering some relief to buyers after weeks of elevated levels. On a weekly basis, gold prices declined by nearly ₹4,000 per 10 grams, while silver recorded a steep fall of ₹65,000 per kilogram. The downward trend is being closely tracked by investors, jewellers, and retail buyers amid ongoing global uncertainties.

As of February 8, 2026, the price of 24-carat gold in Delhi stands at ₹1,56,750 per 10 grams, reflecting a weekly decline of ₹3,980. Similarly, 22-carat gold has dropped by ₹3,650, now trading at ₹1,43,700 per 10 grams in the national capital.

In Mumbai, 24-carat gold is currently priced at ₹1,56,600 per 10 grams, while 22-carat gold is available at ₹1,43,550 per 10 grams. Comparable prices are seen across metro cities such as Chennai, Kolkata, Hyderabad, Pune, and Bengaluru, indicating a uniform nationwide correction.

• Delhi / Jaipur / Lucknow / Chandigarh

  • 22 Carat: ₹1,43,700

  • 24 Carat: ₹1,56,750

• Mumbai / Chennai / Kolkata / Hyderabad / Pune / Bengaluru

  • 22 Carat: ₹1,43,550

  • 24 Carat: ₹1,56,600

• Bhopal / Ahmedabad

  • 22 Carat: ₹1,43,600

  • 24 Carat: ₹1,56,650

In the international market, spot gold is trading at $5,087.73 per ounce, showing mild consolidation after recent highs. Market participants attribute the short-term correction to profit booking and shifting expectations around global interest rates.

Despite the recent dip, global investment banks remain optimistic. JP Morgan has projected that gold prices could climb to $6,300 per ounce by the end of the year, driven by strong demand from central banks and long-term investors. Estimates suggest that central banks may collectively purchase around 800 tonnes of gold in 2026, reinforcing bullish sentiment over the medium term.

Silver prices have fallen more sharply compared to gold. Over the past week, silver prices dropped by ₹65,000 per kilogram, highlighting increased volatility in the white metal.

On the morning of February 8, silver was trading at ₹2,85,000 per kilogram in the domestic market. Notably, silver had crossed the ₹4,00,000 per kilogram mark on January 30, indicating a sharp correction of nearly 41% from recent highs.

In overseas markets, spot silver is currently priced at $74 per ounce.

Experts advise investors to adopt a cautious approach in the short term while keeping a long-term perspective intact. Gold continues to be viewed as a hedge against inflation and economic uncertainty, while silver’s higher volatility makes timing crucial for fresh investments.

With prices easing, jewellery buyers may find the current levels attractive, whereas investors are advised to track global cues before making fresh allocations.