Gold prices slipped over 1% to ₹1.52 lakh per 10 grams in Tuesday’s (February 17, 2026) futures trade, as easing safe-haven demand and a stronger U.S. dollar weighed on the yellow metal amid improving geopolitical sentiment.
Gold Prices Fall on Multi Commodity Exchange
On the Multi Commodity Exchange (MCX), April gold contracts fell ₹2,228, or 1.44%, closing at ₹1,52,532 per 10 grams, with a total business turnover of 7,553 lots. Investors booked profits after recent price swings, reacting to a firmer U.S. dollar and shifting interest-rate expectations from the Federal Reserve. “Gold traded on a softer note as prices consolidated after volatility in the market. Profit booking and a strong U.S. dollar contributed to the decline,” said Gaurav Garg, research analyst at Lemonn Markets Desk. However, he added that safe-haven demand due to weakness in global equities and ongoing central-bank purchases helped limit deeper losses.
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Volatile Corrective Phase in 2026
Both gold and silver are experiencing a volatile corrective phase in 2026 following last year’s strong rally. Nevertheless, the broader multi-year bullish trend remains intact. MCX gold is consolidating in the ₹1.55–1.58 lakh per 10 grams range, still below its earlier peaks, Mr. Garg noted. “This weakness is more of a consolidation than a trend reversal. Investors may consider holding existing positions and rebalancing on dips. Fresh allocations should be staggered amid choppy market conditions,” he advised.
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Global Gold Market Trends
In global markets, Comex April gold futures fell $119.6, or 2.37%, to $4,926.7 per ounce. Thin trading volumes contributed to the drop as several Asian markets, including China, remained closed for the Lunar New Year, while U.S. markets were off on Monday, February 16, 2026. “Gold slipped below $4,970 per ounce amid light trading and holiday closures in Asia,” said Jigar Trivedi, senior research analyst at IndusInd Securities.
Geopolitical Developments and Safe-Haven Demand
Safe-haven demand for gold eased as geopolitical tensions moderated. Renisha Chainani, Head of Research at Augmont, highlighted that President Donald Trump’s comments suggesting indirect U.S. involvement in upcoming nuclear talks with Iran raised hopes for diplomatic progress. Additionally, renewed Ukraine-Russia negotiations helped reduce immediate tensions, boosting risk appetite. “As risk sentiment improved, investors reduced their defensive positions in precious metals. Market attention now shifts to the Federal Reserve’s January meeting minutes for cues on future interest rates,” Chainani added.
Outlook for Investors
While gold prices remain volatile, experts recommend a cautious approach. Consolidation phases often present opportunities to hold or gradually increase positions rather than rushing into fresh allocations. Moreover, monitoring global cues, U.S. dollar movements, and central-bank policies will be critical for market participants in the coming weeks. Overall, gold remains a preferred asset for long-term investment despite short-term fluctuations, combining stability with potential upside amid ongoing economic and geopolitical developments.
| FAQ | Answer |
|---|---|
| What is the current gold price in India? | Gold is trading at ₹1.52 lakh per 10 grams in MCX futures as of February 17, 2026. |
| Why did gold prices fall? | Prices fell due to a stronger U.S. dollar, easing geopolitical tensions, and profit booking by investors. |
| What is the global trend in gold? | Comex gold futures declined 2.37% amid thin trading volumes and global market closures. |
| Should investors buy gold now? | Experts suggest holding existing positions and gradually rebalancing amid short-term volatility. |