Gold and silver prices witnessed volatility on February 24 after recording their biggest spike in three weeks. On the Multi Commodity Exchange (MCX), gold for the April 2 expiry touched ₹1,61,668 per 10 grams earlier in the session before easing. Silver for the March 5 expiry hovered around ₹2,65,350 per kilogram.
In the spot market, gold prices also remained elevated, making jewellery purchases more expensive for households. The recent rally has led to profit-booking by traders, resulting in mild corrections during intraday trade.
Government and RBI Closely Tracking Prices
Union Finance Minister Nirmala Sitharaman stated that both the government and the Reserve Bank of India are closely monitoring gold imports and price movements. She clarified that while imports are rising, current levels are not considered alarming.
RBI Governor Sanjay Malhotra also indicated that authorities are keeping a close watch on bullion inflows and international price trends.
According to Sitharaman, the surge in gold prices has been largely driven by strong global demand, particularly from central banks increasing their reserves.
Global Factors Behind Gold Rally
Market analysts attribute the rally to rising geopolitical tensions, including uncertainty surrounding US-Iran relations and renewed tariff threats by US President Donald Trump.
Whenever global markets experience volatility in equities or currencies, investors typically shift toward gold as a safe-haven asset. This increased demand has pushed both domestic and international gold prices to record highs in recent sessions.
Gold Price Today: City-Wise Rates (Per Gram)
| City | 24K (₹) | 22K (₹) | 18K (₹) |
|---|---|---|---|
| Chennai | 16,212 | 14,861 | 12,721 |
| Mumbai | 16,136 | 14,791 | 12,102 |
| Delhi | 16,151 | 14,806 | 12,117 |
| Kolkata | 16,136 | 14,791 | 12,102 |
| Bengaluru | 16,136 | 14,791 | 12,102 |
| Hyderabad | 16,136 | 14,791 | 12,102 |
| Kerala | 16,136 | 14,791 | 12,102 |
| Pune | 16,136 | 14,791 | 12,102 |
| Vadodara | 16,141 | 14,796 | 12,107 |
| Ahmedabad | 16,141 | 14,796 | 12,107 |
Last updated: February 24, 2026
Gold Price Today (Per 10 Grams)
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24K Gold: ₹1,61,360
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22K Gold: ₹1,47,910
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18K Gold: ₹1,21,020
Market Outlook
After rallying over 2% in the previous session, gold prices slipped marginally as traders locked in profits. Silver also witnessed similar movement after sharp gains.
Experts suggest that bullion prices may remain sensitive to:
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Global tariff developments
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US dollar movement
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Central bank buying trends
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Geopolitical tensions
Investors and consumers are advised to track MCX and international spot prices closely, as volatility is expected to persist in the near term.
