New Delhi: The Silver and Gold prices marginally declined on Thursday (19 February). Trading remained low due to sluggishness in Asian markets as several markets observed holiday because of Lunar New Year. The precious metals are feeling the pressure as the US dollar is strengthening and signals the related to the US Federal Reserve put pressure on precious metals, causing prices to fall in both domestic and international markets.
Silver and Gold prices on MCX
On the Multi Commodity Exchange (MCX), silver recorded a decline of 0.07 percent to the day’s low of Rs 2,42,439 per kilogram. Gold prices also went down by 0.04 percent to Rs 1,55,116 per 10 grams.
Spot prices and bullion market status
Globally, both silver and gold recorded weakness. Spot silver declined 0.5 percent to $76.83 per ounce. Earlier in the session, silver prices dropped more than 5 percent. Spot gold weakened 0.4 percent to $4,961.57 per ounce. US gold futures also fell by 0.6 percent to $4,981. Other precious metals, including platinum and palladium, also recorded slight declines. In the bullion market, gold prices recorded a marginal jump , reaching Rs 1,56,550, while silver gained to Rs 2,46,720.
Speaking exclusively to News9, Ajay Suresh Kedia, founder of Kedia Advisory said that Gold hovered near $4,995, remaining volatile after retreating from late-January record highs as investors assessed minutes from the January meeting of the Federal Reserve. Policymakers appeared divided, with some favoring a pause in rate cuts while others signaled easing could resume if inflation moderates.
A few even highlighted the risk of renewed tightening, prompting traders to scale back expectations for aggressive cuts. Focus now shifts to upcoming U.S. GDP and PCE inflation data. Seasonal demand from China softened due to Lunar New Year holidays, while geopolitical tensions with Iran resurfaced, Kedia said.
“Silver climbed toward $78, supported by broader metals strength despite a firm dollar. Markets still expect two 25-basis-point cuts this year. Gold faces resistance at $5,028; below this, prices may slip toward $4,980–$4,958, while above it, $5,050 is next. Silver holds resistance at $80; below it may retest $76.80–$74.60, whereas above $80 could target $82.20,” the Commodity expert said.
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