Gold and silver prices in the bullion market remained unchanged on the occasion of Maha Shivratri following three consecutive trading sessions of fluctuations. Rates for both metals showed no variation, halting recent movements.
In the national capital, 24-carat gold had declined by about ₹1,850 per 10 grams over the previous three days, while 22-carat gold fell करीब ₹1,700 during the same period. Silver prices had dropped करीब ₹20,000 per kilogram over two trading sessions prior to the current session.
Market participants reported that domestic demand and supply remained limited on Maha Shivratri, and no major movement was observed in international markets for gold and silver. According to experts, the current pause is temporary and market activity may resume in the coming days.
In Delhi, 24-carat gold was priced at ₹1,57,900 per 10 grams, 22-carat gold at ₹1,44,750, and 18-carat gold at ₹1,18,460. In Mumbai, 24-carat gold was ₹1,57,750, 22-carat ₹1,44,600, and 18-carat ₹1,18,310 per 10 grams. Kolkata recorded identical rates to Mumbai for all three categories. In Chennai, prices were higher, with 24-carat gold at ₹1,58,840, 22-carat at ₹1,45,600, and 18-carat at ₹1,24,500 per 10 grams.
In Bengaluru, gold rates matched Mumbai levels across all purities. Hyderabad also recorded rates identical to Bengaluru and Mumbai. In Lucknow, 24-carat gold traded at ₹1,57,900, 22-carat at ₹1,44,750, and 18-carat at ₹1,18,460. In Patna, 24-carat gold stood at ₹1,57,800, 22-carat at ₹1,44,650, and 18-carat at ₹1,18,360. Jaipur recorded the same rates as Lucknow. Ahmedabad quoted 24-carat gold at ₹1,57,800, 22-carat at ₹1,44,650, and 18-carat at ₹1,18,360 per 10 grams.
Silver prices also remained unchanged after two sessions of decline. On 15 February, silver in Delhi was priced at ₹2,75,000 per kilogram. Mumbai and Kolkata recorded the same rate, while Chennai quoted ₹2.80 lakh per kilogram.
Navneet Damani, Head of Commodity and Currency Research at Motilal Oswal Financial Services, stated that the recent rise in silver was driven more by momentum than by fundamentals. He said that unless silver crosses $100 per ounce, any major rally would not be considered sustainable. According to Damani, silver could reach $95 per ounce under favourable conditions and fall to $65 per ounce in weaker conditions, indicating that the metal may trade within a defined range.
