Gold and silver costs declined sharply on February 6 as world markets turned risk-on, the US greenback strengthened, and traders booked income after latest record-high rallies.
Revealed: February 6, 2026 9:04 AM IST
Gold and Silver costs crashed on Thursday in all buying and selling markets all over the world. Traders and merchants reacted to those valuable metals oversold on thursday as geopolitical tensions cooled down whereas greenback strengthened pushing these protected haven belongings decrease after a number of document closing touches.
Silver futures for supply in March crashed down by practically ₹25,000 per kg or 9.8% to ₹228,812 on the Multi Commodity Alternate India Restricted (MCX) amid intense promoting stress. Equally, gold futures traded over ₹2,300 decrease on MCX on Thursday.
COMEX Gold Costs crashed under crucial assist degree
In world markets COMEX gold traded under $4,800 an oz whereas silver costs dropped over 2% from earlier highs.
Specialists are reporting that the greenback index rallying greater in opposition to a basket of currencies has added gasoline to the dear metals sell-off fireplace. In different information, each US and Iran officers introduced that they are going to resume diplomatic talks to debate their variations including to softness in protected haven belongings gold and silver.
A number of consultants are commenting that the sharp sell-off in valuable metals is because of traders reallocating funds to riskier belongings on strong closing touches by world fairness markets this week. Gold and silver costs plummeted as risk-on sentiment took over the markets whereas the greenback rallied on receding fears over geopolitical tensions.
Latest hike in gold and silver costs come after the metallic rallied to document highs final month with gold costs hitting highs above $5,000 an oz whereas silver surged to 30-year highs.
Gold and Silver Recovered Some Losses
Silver and Gold costs pared some losses intraday on Thursday as cut price hunters jumped in to purchase the dips whereas world cues remained constructive.
Analysts stated that it’s uncommon to see gold and silver publish document highs after which see sharp sell-off however traders at the moment are realising that geopolitical dangers are now not at forefront making a strong case for risk-on sentiment a minimum of in the close to time period.
Will Rising US Dollar Index Make Treasured Metals Plunge?
Latest escalation in geopolitical tensions has prompted traders to park their funds in safe-haven belongings like gold and silver taking costs to document highs however after each the US and Iran got here ahead with constructive feedback over their willingness to debate phrases formally each events will resume nuclear talks traders are much less anxious about quick time period draw back dangers.
Gold futures for supply in April traded at ₹48,173 per 10 gram whereas MCX Silver futures contract for supply in March ended at ₹228,812 per kg.
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