Gold prices in India trade lower as of February 17, 2026 , extending losses for the second consecutive session. The rate for 24K gold stands at ₹15,420 per gram, down ₹224. Meanwhile, 22K gold trades at ₹14,135 per gram after a ₹205 decline, and 18K gold quotes at ₹11,565 per gram, falling ₹168. The slide reflects broader weakness across global bullion markets. Over the past two sessions, domestic 24K gold has recorded a cumulative drop of over ₹28,400 per 100 grams. On a 10-gram basis, 24K rates have fallen close to ₹2,050, settling near ₹1,52,900. The steady decline signals a shift in short-term momentum after gold’s strong rally earlier this year. Global Pressures Weigh On Bullion Internationally, gold prices slipped below $4,950 per ounce, marking a second day of losses. Trading volumes remained thin as major markets observed public holidays. Chinese exchanges closed for Lunar New Year celebrations from February 15 to 23, while US markets shut for Presidents’ Day on Feb 16th. Reduced liquidity often amplifies volatility, and the latest session reflected that dynamic. At the same time, the US Dollar Index strengthened for a second straight session. A stronger dollar increases the cost of gold for holders of other currencies, including the Indian Rupee. This currency effect dented global demand and placed downward pressure on prices. Rising US Treasury yields also influenced sentiment. Higher yields increase the opportunity cost of holding non-yielding assets such as gold, prompting some investors to reallocate capital. Profit Booking And Risk Appetite Investors also engaged in profit booking following gold’s record-breaking rally earlier in 2026. The metal briefly crossed the $5,000 per ounce mark last week, triggering stop-loss orders as prices later breached short-term support levels. Sharp gains often invite consolidation, and recent sessions illustrate that pattern. Improved risk appetite further reduced safe-haven demand. Reports of diplomatic progress between the US and Iran, along with renewed negotiations between Russia and Ukraine, eased immediate geopolitical concerns. As tensions cooled, some investors shifted funds toward equities, reducing exposure to bullion. Domestic Market Reaction Indian prices adjusted in line with global cues. Gold and silver futures on the Multi-Commodity Exchange (MCX) saw sharp corrections. Silver prices also faced heavy selling, declining by ₹35,000 per kilogram over the past five days. The synchronized fall across precious metals underscores the broader shift in sentiment. Gold has long served as a hedge against inflation, and Indian investors continue to view it as a strategic asset. However, short-term fluctuations often reflect global macroeconomic drivers rather than domestic fundamentals alone. Key Levels And Outlook Market participants now focus on the ₹1,50,000–₹1,55,000 per 10-gram range for 24K gold as a critical support zone. A sustained break below this band could open the door for further declines. On the other hand, physical demand linked to the ongoing wedding season may cushion deeper losses. Investors also await the Federal Reserve’s meeting minutes and upcoming US PCE inflation data for clearer direction. These events could influence expectations around interest rates, which in turn affect bullion flows. For now, gold trades in a corrective phase after an extended rally. Will the support zone hold, or will global macro forces push prices lower? The coming sessions may provide the answer.
