Gold and silver prices show bullish momentum on February 26, 2026, with MCX gold futures hitting a fresh February high near ₹1,62,050/10g—up ₹10 from prior close—and silver consolidating at ₹2,95,000/kg post-rally. Domestic spot rates hold firm: 24K gold ₹16,205/g (₹1,62,050/10g) in Delhi/Mumbai, silver ₹284.90/g (₹2,84,900/kg). But will MCX gold smash ₹1.7 lakh/10g and silver cross ₹2.8 lakh/kg soon? Here’s the outlook.
Current Prices Across Cities
Uniform gains today:
- Delhi: 24K ₹16,205/g, 22K ₹14,856/g.
- Mumbai/Kolkata/Bengaluru: Matching rates (+₹1/g).
- Silver: ₹284.90/g nationwide, steady amid volatility.
MCX April gold settled ₹1,61,145/10g yesterday; early dip to ₹1,61,000 reversed on dollar weakness.
Short-Term Prediction: Bullish Surge Ahead?
Experts say yes—gold could test ₹1,65,000-1,70,000/10g by March end:
- Upside Triggers: Rupee softening (83.50/USD), global $2,500/oz rally, wedding demand, central bank buys (India 100T+ in 2025).
- February Range: ₹1,62,000-1,68,000/10g; resistance ₹1,65,000.
- Silver: ₹2,95,000-3,00,000/kg near-term, eyeing ₹2.8 lakh/kg if industrial demand spikes (solar/EVs).
Profit-booking risks pullback to ₹1,60,000 gold, ₹2,90,000 silver on strong USD/Fed pause.
2026 Full-Year Forecast
GlobalData hikes targets: Gold $6,100-6,700/oz (~₹1.75-1.85 lakh/10g), silver $175-220/oz (~₹2.9-3.7 lakh/kg) by Dec. India factors:
- Gold: ₹1.65-1.75 lakh/10g base; bullish ₹2 lakh on geopolitics (US-Iran, tariffs).
- Silver: ₹2.8-3.1 lakh/kg; outperformance via AI/solar (50% demand industrial).
Astrologers warn Feb volatility (Mercury retrograde); buy dips Feb 23-28.
Key Drivers Today
- Global: Gold $2,520/oz (+0.5%) on tariff fears; silver $32/oz.
- India: Festive/jewelry demand, RBI gold reserves; rupee aids imports.
- Risks: BofA bull exuberance signals correction; Trump tariffs hike costs.
Buy or Sell? Investor Guide
Buy Signals (60% experts): Dips below ₹1,62,000 gold, ₹2,95,000 silver—SIP ₹10k/month.
Sell/Hold: Above ₹1,65,000 gold; profit-lock 10% gains.
For Patiala: Hedge stocks/crypto volatility; physical/SGBs for weddings.
Gold’s 75% 2025 gains continue; silver’s 175% streak risks bubble but eyes ₹1.7 lakh end-2026. Track MCX Thursday.
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