Gold and silver prices in the domestic market declined sharply over the past week. On a weekly basis, 24-carat gold fell by Rs 3,980 per 10 grams, while silver prices declined by about Rs 65,000 per kilogram.
In the Indian market, the price of 24-carat gold declined by around Rs 3,980 per 10 grams over the last one week. The price of 22-carat gold fell by about Rs 3,650 per 10 grams during the same period. The decline follows a phase in which gold prices had remained at elevated levels in recent months.
As of February 8, the price of 24-carat gold in Delhi stood at Rs 156,750 per 10 grams, while 22-carat gold was priced at Rs 143,700 per 10 grams. In Mumbai, 24-carat gold was trading at Rs 156,600 per 10 grams and 22-carat gold at Rs 143,550 per 10 grams.
In Bhopal, the price of 24-carat gold was Rs 156,650 per 10 grams and 22-carat gold was priced at Rs 143,600 per 10 grams. In Lucknow, 22-carat gold was priced at Rs 143,700 per 10 grams.
Across major cities including Mumbai, Chennai and Kolkata, 24-carat gold was priced at Rs 156,600 per 10 grams, while 22-carat gold was at Rs 143,550 per 10 grams. Similar rates were recorded in Pune and Bengaluru. In Jaipur, Chandigarh and Lucknow, 24-carat gold was priced at Rs 156,750 per 10 grams and 22-carat gold at Rs 143,700 per 10 grams.
In the international market, spot gold was trading at around $5,087.73 per ounce. Movements in global prices continue to influence domestic gold rates.
According to a report by JPMorgan, gold prices could reach $6,300 per ounce by the end of the year. The bank cited demand from central banks and investors as key factors. The report estimates that central bank gold purchases could be around 800 tonnes in 2026.
Silver prices also registered a sharp decline during the week. Over the past one week, silver prices fell by around Rs 65,000 per kilogram. As of the morning of February 8, silver was priced at Rs 285,000 per kilogram, compared with levels above Rs 400,000 per kilogram on January 30.
