Gold and Silver Prices Drop Sharply From Recent Lifetime High Levels

The precious metals market witnessed a significant downward correction on Tuesday as gold and silver prices continued to retreat from their historical peaks. On the Multi Commodity Exchange (MCX), silver prices fell by ₹4,685 to settle at ₹2,35,206 per kilogram. According to market data, this current price is ₹1,80,157 lower than its all-time high recorded in late January. Similarly, gold prices on MCX dropped by ₹1,210, reaching ₹1,53,550 per 10 grams. This represents a decrease of ₹38,336 from its lifetime high, marking a notable shift in the commodity market trends after weeks of intense volatility.

Detailed Price Correction on MCX Platform

The trading session on Tuesday highlighted a clear bearish trend for both gold and silver on the MCX. The drop of ₹4,685 in silver brought the rates to ₹2,35,206 per kg, continuing the slide that began after the metal reached unprecedented levels earlier this year. Gold also faced selling pressure, with a decline of ₹1,210 taking the price to ₹1,53,550 per 10 grams. According to exchange reports, this correction follows a period of extreme price fluctuations that had characterized the market since the beginning of the year. The current rates reflect a stabilization phase as the market adjusts to changing global economic indicators and domestic demand patterns.

Comparison Between Current Rates and Lifetime Highs

The contrast between current prices and the records set on January 29 is stark. On that day, silver on MCX hit a lifetime high of ₹4,20,048 per kilogram, while gold reached an all-time peak of ₹1,93,096 per 10 grams. 80 lakh, and gold has seen a reduction of over ₹38,000. These figures represent one of the most significant price corrections in recent history for the Indian commodity market. The data indicates that the rapid surge seen in January has been largely offset by the subsequent decline over the following weeks, bringing relief to various market segments.

Physical Bullion Market Trends in Delhi

The impact of the price correction is also evident in the physical bullion markets. In Delhi, silver had reached an all-time high of ₹4,04,500 per kilogram on January 29, 2026, while gold peaked at ₹1,83,000 per 10 grams on the same day. As of Monday, February 16, the price of silver in the Delhi bullion market closed at ₹2,55,000 per kilogram, following a single-day drop of ₹5,000. This closing price is ₹1,49,500 below its record high. Conversely, gold prices in the spot market saw a slight increase of ₹700 on Monday, closing at ₹1,59,200 per 10 grams, though it remains ₹23,800 lower than its lifetime high.

Historical Context of the January Price Surge

The month of January saw an extraordinary rally in precious metal prices, driven by a combination of global geopolitical factors and high domestic demand. 20 lakh mark for the first time. According to market analysts, the surge was characterized by heavy buying and speculative interest. However, the subsequent weeks have seen a cooling-off period. The transition from record highs to the current levels illustrates the inherent volatility of the metals market and the speed at which price corrections can occur following a parabolic move.

Stabilization of Prices After Recent Volatility

Following the heavy fluctuations observed in early February, the movement in gold and silver prices has now entered a more controlled phase. The sharp drops recorded on Monday and Tuesday suggest that the market is finding a new equilibrium. 80 lakh in silver and approximately ₹38,000 in gold from their respective peaks has Notably altered the market landscape. According to officials and market reports, the current price levels are being influenced by a mix of international spot rates, currency movements, and a recalibration of demand in the physical market after the record-breaking highs of the previous month.