MCX Gold, Silver Price Today: Gold Up ~2%, Silver Soars ~6% on Safe‑Haven Demand
MCX gold and silver prices surged sharply on February 23, 2026, as investors rushed toward safe-haven assets amid rising global uncertainty. Gold climbed nearly 2%, while silver recorded an impressive 6% jump in early trade. The rally followed fresh concerns over geopolitical tensions, trade disruptions, and slowing global growth, which unsettled equity and currency markets.
As risk appetite weakened, demand for precious metals strengthened across domestic and international exchanges. Strong inflows into gold and silver ETFs also reflected renewed investor confidence in defensive assets. In India, the sudden spike pushed bullion rates to multi-week highs, drawing attention from traders, investors, and jewellers.
MCX Gold & Silver Price Today – Live Market Snapshot
On February 23, 2026, both MCX gold and silver prices moved sharply higher in early trade. Silver futures jumped about 6% to near ₹2.68-2.75 lakh per kilogram on strong safe‑haven demand and trade policy uncertainty.
Gold futures also rose around 1.8-2%, crossing the ₹1.59-1.60 lakh per 10 grams level as global risk sentiment weakened. Domestic bullion prices reflected this rise, with city‑wise 24K gold rates near ₹15,900-₹16,000 per gram. Markets are seeing firm trading amid geopolitical tensions and uncertain trade agreements.
Gains on international exchanges supported MCX price moves. On Comex, spot gold traded near multi‑week highs above $5,160 per ounce, while silver hovered around $86-$87 per ounce, signaling broad bullish momentum in precious metals.
Why are Gold & Silver Prices Rising Today?
What Is Driving the Rally in Precious Metals?
The surge in prices stems from investors seeking refuge from growing global economic and political risks. Traders cite three key factors:
- Geopolitical Uncertainty: Tensions between the United States and Iran remain in focus, prompting risk‑averse buying of gold and silver.
- Trade Policy Shifts: Changes in US tariff policy after the Supreme Court’s ruling have added uncertainty to global trade, boosting safe‑haven demand.
- Weak Dollar and Macro Signals: A softer US dollar gives additional support to dollar‑priced commodities, making gold and silver more attractive.
These developments have strengthened demand for metals that typically perform well during market stress. Traders around Asia and Europe are buying near key technical levels, keeping prices elevated.
How are City‑Wise Spot Rates Behaving in India?
What are the Latest Gold Rates Across Indian Cities?
City‑wise bullion rates in India on February 23, 2026, show gold holding higher levels after the recent uptrend:
- 24K gold is near ₹15,942 per gram in most metros.
- 22K and 18K gold follow proportionally lower rates.
- Chennai typically trades at a slight premium compared to other cities.
Prices remain consolidated after the recent rally, with physical dealers reporting steady demand as investors evaluate risk conditions.
What are Silver Prices Today in Key Markets?
Silver prices have also stabilized close to ₹2.74 lakh per kg in major Indian cities like Mumbai, Delhi, Kolkata, Bengaluru, and Hyderabad. After sharp swings earlier in the month, silver has entered a consolidation phase near recent highs.
Silver’s Volatility Explained – Why It’s Outperforming Gold
Why Is Silver More Volatile Than Gold?
Silver continues to show wider price swings compared with gold due to several unique factors:
- Industrial Demand: Silver is used heavily in solar panels, electronics, and electric vehicles, fuelling baseline demand.
- ETF Inflows: Despite volatility, silver ETFs saw strong investor interest over recent weeks, reflecting speculative and strategic positioning.
- Price Swings: From a peak near ₹3.50 lakh/kg in early February to a low around ₹2.55 lakh/kg mid‑month, silver prices have shown large intra‑month movements.
This combination of investment and industrial drivers keeps silver on traders’ radars and explains its stronger intraday gains.
MCX Gold Silver Price: What are Market Experts Saying?
Is Safe‑Haven Demand Supporting Precious Metals?
Market analysts point out that rising trade risks, coupled with geopolitical stress, are encouraging investors to allocate funds into precious metals. This pattern is typical during phases of uncertainty, credit tightening, or economic slowdown fears.
According to investment research, gold may maintain higher support levels if global risk remains elevated. Analysts at major brokerage firms also emphasize monitoring macroeconomic data and central bank actions for future price direction.
How are Traders Positioning for the Near Term?
Many market participants use AI stock‑analysis tools and commodity models to track momentum and volatility across MCX futures. Given current patterns:
- Traders may watch support zones for pullbacks.
- Investors eye metals as a hedge against inflation and currency weakness.
This mixed approach reflects differing time horizons among market players.
MCX Gold Silver Price: What Should Investors Consider Now?
Should You Buy, Sell, or Hold?
Precious metals markets are complex and require careful assessment:
- Long‑Term Investors: Gold often serves as a hedge against inflation and long‑term risk.
- Short‑Term Traders: Silver’s heightened volatility may offer trading opportunities but also higher risk.
- Evaluate risk tolerance before adding exposure. Consider using digital gold or ETF products for easier diversification.
What Risks Should You Watch?
- Geopolitical developments can shift rapidly.
- Currency fluctuations influence dollar‑priced metals.
- Commodity markets remain sensitive to global macro trends.
Staying updated with reliable price feeds and expert analysis is key.
Conclusion: Precious Metals in the Spotlight
MCX gold and silver prices are on the rise as investors seek protection from geopolitical and trade uncertainties. The notable gains in silver highlight its dual role as both a commodity and a safe‑haven asset. Gold’s steady advance reflects ongoing risk aversion in global markets.
For Indian traders and investors, these price movements underline the need to stay informed. Understanding trends, risks, and demand dynamics can help make smarter investment decisions in a turbulent economic environment.
Frequently Asked Questions (FAQs)
As of February 23, 2026, MCX gold is around ₹1,59,420 per 10 grams, and silver is near ₹2.74 lakh per kg. Prices rose sharply due to strong demand.
Gold and silver rose on February 23, 2026, because of geopolitical tensions, trade risks, and slower global growth, pushing investors to safe-haven assets and ETFs.
Experts suggest staying cautious. Gold is good for long-term safety, while silver is volatile. Decide based on risk tolerance and market trends as of February 23, 2026.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.