Gold, Silver Rate Highlights: Silver, gold prices witness record fall — Here's what it costs in your city

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Gold 24K per gram — ₹156,495 per 10 grams on Saturday, down from ₹164,495 on Friday.

Gold 24K per gram — ₹156,495 per 10 grams on Saturday, down from ₹164,425 on Friday.

Gold 24K per gram — ₹156,495 per 10 grams on Saturday, down from ₹ 1,64,697 on Friday.

Gold prices plunged 2% to ₹1.65 lakh per 10 grams in New Delhi on Saturday.

According to the All India Sarafa Association, gold prices lost sheen, sliding ₹3,500, or 2.07%, to ₹1,65,500 per 10 grams (inclusive of all taxes).

The metal of 99.9 per cent purity plunged 7.6% to ₹1,69,000 per 10 grams in the previous trade after hitting a record of ₹183,000 per 10 grams on Thursday.

Silver prices collapsed 19% to ₹3.12 lakh per kg in the national capital on Saturday.

According to the All India Sarafa Association, silver nosedived ₹72,500, or 18.85%, to ₹3,12,000 per kilogram (inclusive of all taxes), marking a second straight day of heavy losses, wiping out much of this week's record gains.

Gold 24K per gram — ₹150,930 per 10 grams

Gold 22K per gram — ₹138,353 per 10 grams

Gold 18K per gram — ₹113,198 per 10 grams

Gold 24K per gram — ₹150,490 per 10 grams

Gold 22K per gram — ₹137,949 per 10 grams

Gold 18K per gram — ₹112,868 per 10 grams

Gold 24K per gram — ₹150,430 per 10 grams

Gold 22K per gram — ₹137,894 per 10 grams

Gold 18K per gram — ₹112,823 per 10 grams

Gold 24K per gram — ₹150,690 per 10 grams

Gold 22K per gram — ₹138,133 per 10 grams

Gold 18K per gram — ₹113,018 per 10 grams

Anuj Gupta, a SEBI-registered commodity expert, said that the COMEX silver prices will be in a broader range of $70 to $95 per ounce, while the MCX silver prices will be in the range of ₹250,000 to ₹350,000/kg.

“The COMEX silver rate today is in a broader range of $70 to $95 per ounce, while the MCX silver price today is in the ₹250,000 to ₹350,000 per kg range. High-risk investors can take a smaller MCX silver price range from ₹265,000 to ₹320,000 per kg,” said the market experts.

Anuj Gupta, a SEBI-registered commodity expert, said that the COMEX gold prices will trade in the range of $4,550 to $4,900 per ounce, whereas the MCX gold prices will be in a short ₹135,000 per 10 grams to ₹180,000 per 10 grams.

“Gold rate today is in a broader $4,550 to $4,900 per ounce range at CME, whereas MCX gold rate today is in a short ₹1,35,000 per 10 gm to ₹1,80,000 per gm. However, the broader range of MCX gold rate today is ₹1,35,000 to ₹1,80,000 per 10 gm,” said the market expert.

• Gold Rate in Delhi — 24-karat gold price in Delhi was ₹150,430 per 10 grams. Meanwhile, the price of 22-karat gold was ₹137,894 per 10 grams.
• Gold Rate in Mumbai — 24-karat gold price in Delhi was ₹150,690 per 10 grams. Meanwhile, the price of 22-karat gold was ₹138,133 per 10 grams.
• Gold Rates in Kolkata — 24-karat gold price in Delhi was ₹150,490 per 10 grams. Meanwhile, the price of 22-karat gold was ₹137,949 per 10 grams.
• Gold Rates in Hyderabad — 24-karat gold price in Delhi was ₹150,930 per 10 grams. Meanwhile, the price of 22-karat gold was ₹138,353 per 10 grams.
• Gold Rates in Chennai — 24-karat gold price in Delhi was ₹151,130 per 10 grams. Meanwhile, the price of 22-karat gold was ₹138,536 per 10 grams.
• Gold Rates in Bengaluru — 24-karat gold price in Delhi was ₹150,810 per 10 grams. Meanwhile, the price of 22-karat gold was ₹138,243 per 10 grams.
• Gold Rates in Ahmedabad — 24-karat gold price in Delhi was ₹150,890 per 10 grams. Meanwhile, the price of 22-karat gold was ₹138,316 per 10 grams.

Read further details here — Gold city prices

CME Group raised its margins on gold from 6% to 8% and on silver from 11% to 15% effective from Monday, 2 February 2026. This means that traders who are looking to trade in precious metals futures will have to put up more collateral to ensure they can meet their obligations.

According to a Bloomberg report, the commodity exchange routinely raises margins when a precious metal contract is extremely volatile so that this move edges out smaller players in the market who don’t have enough cash to make the necessary deposits.

Anuj Gupta, a SEBI-registered commodity expert, explained that the CME Group's margin-hike buzz for gold and silver, along with the commodities remaining in the “overbought” category, fueled a panic selling in both silver and gold.

“The CME has increased margin requirements on copper to 20%, triggering margin-hike buzz for gold and silver as well. As gold and silver prices were already in overbought territory, and the US Dollar (USD) was under pressure after the announcement of Trump's nominee for the US Fed Chairman's post to replace the incumbent Jerome Powell, the CME margin hike buzz triggered panic selling in the yellow and white metals,” said the commodity market expert.

Anuj Gupta, a SEBI-registered commodity expert, explained that the CME Group's margin-hike buzz for gold and silver, along with the commodities remaining in the “overbought” category fueled a panic selling in both silver and gold.

“The CME has increased margin requirements on copper to 20%, triggering margin-hike buzz for gold and silver as well. As gold and silver prices were already in overbought territory, and the US Dollar (USD) was under pressure after the announcement of Trump's nominee for the US Fed Chairman's post to replace the incumbent Jerome Powell, the CME margin hike buzz triggered panic selling in the yellow and white metals,” said the commodity market expert.

Ponmudi R, the CEO of Enrich Money, suggested that the COMEX gold prices now consolidate in the $4,740–$4,760 per ounce zone, as the converging supports align, providing a robust technical floor for the precious metal.

“Prices now consolidate in the $4,740–$4,760 zone, where prior breakout levels, the 20-day EMA, and converging supports align, providing a robust technical floor,” said the expert.

On the technicals, the expert also said that if the gold prices hold above $4,700/ounce, then a potential recovery toward $4,800–$5,000+ per ounce will be on renewed safe-haven demand or momentum recovery.

“The 50-day EMA near $4,500–$4,533 offers deeper cushioning, while the multi-year ascending channel and slope support limit further downside. As long as prices hold above $4,700, the bullish structure remains valid, with recovery potential toward $4,800–$5,000+ on renewed safe-haven demand or momentum recovery. A decisive break below $4,500 would be needed to challenge the broader uptrend,” said the expert.

Online brokerage platform Zerodha's Chief Executive Officer (CEO), Nithin Kamath, in a social media post shared the key lesson for investors after the commodity markets crashed on Friday, 30 January 2026.

“Yesterday was one of those days in commodity markets. All major metals hit lower circuits—the maximum they can move in a day. Silver crashed 30%, Gold 15%, and others followed. Btw, Natural gas was on an upper circuit,” said Kamath.

“The lesson is simple but critical: only trade with money you can afford to lose. You can trade successfully for a decade and lose it all in a single day if you're not properly managing risk. There's no margin call, no exit opportunity when markets gap through circuits like this,” said the veteran investor and Zerodha CEO.

Read more: Zerodha's Nithin Kamath shares key takeaway from commodity market fall 

Gold prices on CME Group's COMEX were trading 8.35% or $447.3/ounce lower at $4,907.5/ounce as of 3:18 p.m. (IST) on Saturday, India Time, compared to $5,354.8/ounce, according to the exchange data.

COMEX is trading on Friday's market session, set to close at 3:30 p.m. (IST) accounting the daylight saving time in United States.

MCX silver prices also crashed 27% wiping off more than ₹100,000/kg from the precious white metal. The silver prices closed at ₹291,922/kg after Friday's commodity market session, compared to ₹399,893/kg at the previous market close, according to the official data.

Gold futures on the Multi-Commodity Exchange (MCX) plummeted 12% to close ₹20,328 per 10 grams lower at ₹149,075 per 10 grams after Friday's market session, compared to ₹169,403 per 10 grams at the previous trading close, according to the official data.