Gold Rates Fall 12.44% In 10 Days From Peak; 24K, 22K, 18K Gold Prices In Top Cities; Gold Weekly Outlook Here

Gold rates in the country has dropped by more than 12% in just 10 days, after rising by nearly 19% and touching a new all-time high of Rs 1,78,850 per 10 grams in January 2026. On February 8th, gold prices across 24 carats, 22 carats and 18 carats stood unchanged. Currently, 10 grams gold price is struggling around Rs 1.56 lakh and hence it will be keenly watched whether the price crosses Rs 1.6 lakh threshold next week. MCX gold futures are expected to trade in the range of Rs 1.39 lakh to Rs 1.62 lakh in the coming week's trading session.

Gold Rates In India

Gold Performance In 10 Days:

Gold had touched an all-time high of Rs 1,78,850 per 10 grams in 24 carat on January 29. This was its highest ever level before correction overtook precious metals. Investors started to book profits as experts believe gold's record rally in January had pushed the precious metal in overvalued territory.

Right after gold hit a new peak, it fell steeply by 12.44% from January 30th to February 8th. Currently, 10 grams gold price is at Rs 1,56,660 in 24 carat.

In 8 days of February, gold is down by 2.5%. So far, the current month has been broadly volatile for precious metals.

MCX Gold Price:

Last week, on February 6th, MCX gold price with April 2026 expiry, recovered its early losses to end at Rs 1,52,861 per 10 grams, up by Rs 790 or 0.52%. Gold recovered to hit an intraday high of Rs 1,54,083 per 10 grams during the trading session after RBI announced to keep repo rate unchanged at 5.25%.

Spot Gold Price:

Also, gold surged by nearly 4% to towards above $4,950 per ounce on Friday and was set for weekly gains after a week of sharp two way moves, as signs of US economic softening and lingering geopolitical uncertainty combined with the aftereffects of forced selling to drive volatility. The rebound followed a late January liquidation wave triggered by higher margin requirements and a steep selloff in silver that spilled across precious metals, pushing prices lower before buyers re entered, as per Trading Economics.

Gold Prices In India Weekly Outlook:

According to analysts at SMC Global Securities, gold and silver witnessed a highly volatile week. On MCX, gold posted weekly gains of nearly 7%, while COMEX gold ended on a negative note.

Precious metals also faced pressure after a strong rebound in the US dollar following the nomination of Kevin Warsh as the next Federal Reserve Chair, widely viewed as a more hawkish choice. Central bank gold purchases moderated in 2025, breaking a three-year streak of aggressive buying. Total purchases fell below the 1,000-tonne mark to around 863 tonnes.

This indicates that central banks remain sensitive to elevated price levels and have adopted a more cautious stance, even though their long-term strategic interest in gold remains intact, as per World Gold Council.

That being said, the analysts added, easing geopolitical tensions also weighed on gold's safe-haven demand after Iran and the United States confirmed talks in Oman. Meanwhile, US labour data remained mixed. January job cuts rose to 108.4K, initial jobless claims increased to 231K, and ADP payrolls missed expectations. The weaker labour trend strengthened expectations of Federal Reserve rate cuts later this year, with markets anticipating a possible first move in June. In the coming week, COMEX gold is expected to trade in the $4,500-$5,120 range. On MCX, gold is likely to trade between 139,500-162,000.

Gold Rates In Top Cities:

Gold Rates In Mumbai + Gold Rates In Kolkata + Gold Rates In Bengaluru + Gold Rates In Kerala

10 grams gold price stood at Rs 1,56,600 in 24 carat in these cities, while 10 grams gold price is at Rs 1,43,550 in 22 carat and at Rs 1,17,450 in 18 carat. These prices are same in the cities mentioned above.

Gold Rates In Delhi + Gold Rates In Ahmedabad:

Gold is expensive in cities like Delhi and Ahmedabad. In Delhi, 10 grams gold price stood at Rs 1,56,750 in 24 carat, at Rs 1,43,700 in 22 carat and at Rs 1,17,600 in 18 carat. Further, in Ahmedabad, 10 grams gold is available at Rs 1,56,650 in 24 carat, at Rs 1,43,600 in 22 carat and at Rs 1,17,500 in 18 carat.

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