Gold, silver rates today: Gold and silver prices fall up to 2% after gaining for two days. What should investors do?

Gold, silver rates today: Gold and silver prices snapped a two-day rising streak, fell nearly 2% on Tuesday, February 10, amid profit-booking in the choppy market.

Spot gold was down 0.70% to $5,040 per ounce, meanwhile, spot silver fell 1.94% to $80.33 per ounce, during the Asian trading hours on Tuesday.

Gold prices have declined by over 11.27% from their record high level of $5,608.25 on January 29. On the other hand, silver prices have plunged around 50% from their all-time high of $121.64.

What's driving gold and silver prices today?

Both precious metals slumped after a record-breaking rally, driven by speculative activity, pushed markets into overheated territory. Still, the key forces that supported the multiyear uptrend—rising geopolitical tensions, strong central-bank purchases, and investors shifting away from sovereign bonds and currencies—continue to remain intact, according to a Bloomberg report.

Several banks and asset managers, including Deutsche Bank AG and Goldman Sachs Group Inc., as quoted by Bloomberg, expect bullion prices to rebound on the back of these enduring demand drivers. Highlighting sustained official-sector interest, China’s central bank extended its gold-buying streak to a fifteenth consecutive month in January.

Going forward, upcoming economic indicators later this week are likely to provide insights into the Federal Reserve’s policy direction, following President Donald Trump’s nomination of Kevin Warsh as the next Fed chair. The January employment report due on Wednesday is anticipated to point to a stabilizing labor market, while inflation data is set to be released on Friday.

“The correction has largely been driven by profit-taking and shifting macro expectations, including a perceived pause in the US Federal Reserve’s easing cycle. The Federal Reserve is widely expected to hold rates steady after three consecutive cuts since September 2025. This shift in policy expectations contributed to gold prices retreating by approximately 2–8% from recent highs before rebounding modestly over the past week. Importantly, this correction does not undermine gold’s longer-term strategic relevance. The broader macro environment remains supportive, with limited supply growth, continued geopolitical uncertainty, and central bank demand expected to remain solid at levels close to those seen in 2025,” said Rochan Pattnayak, Chief Investment Officer, Choice AMC Limited.

What should investors do?

Pattnayak further recommended investors to approach gold with disciplined allocation rather than tactical overreaction.

“A calibrated exposure (for example, 10–15% of a diversified portfolio, depending on risk profile) can help strengthen resilience without resorting to concentrated bets during short-term volatility,” he said.

According to Ponmudi R, CEO of Enrich Money, the broader uptrend in gold prices remains intact, with the pullback reflecting profit booking and healthy price digestion.

On the technical outlook for gold prices, Ponmudi said that COMEX Gold is trading near the $4,900–$5,100 zone after correcting sharply from recent highs above $5,500–$5,600.

“Prices are trading above key moving averages, indicating the correction is maturing and could set the stage for renewed upside momentum. Strong buying interest is evident in the $4,500–$4,700 support band, and sustained stability above this area could pave the way for renewed upside, with a breakout above $5,200–$5,300 opening the path toward prior record highs,” he added.

On the silver prices outlook, Ponmudi further opined that the broader bullish structure remains intact on higher timeframes, the steep pullback has pushed prices below key moving averages, indicating short-term bearish pressure and an extended corrective phase.

“COMEX Silver is trading near the $78–$83 zone after a sharp correction from record highs above $121. Strong buying interest is visible in the $65–$70 support band, aligned with prior swing lows and long-term trend support. A sustained hold above this base, followed by a recovery and close above $85–$92, could revive upside momentum toward $95–$105 and potentially retest previous highs, while the medium- to long-term outlook stays constructive on steady industrial demand and structural supply constraints despite elevated volatility,” he said.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.