Gold price today: Gold and silver rates declined on the MCX on Thursday, February 26, morning, amid profit booking after healthy gains in the previous session. However, persisting geopolitical uncertainties and concerns over US tariffs capped losses for the previous metals.
MCX gold April futures dropped by over ₹600, or 0.40%, to ₹1,60,516 per 10 grams, while MCX silver March contracts declined by over ₹5,400, or 2%, to ₹2,62,892 per kg.
In the previous session, the MCX gold April futures contract settled at ₹1,61,145 per 10 grams, rising 0.74% and the silver’s March futures contract closed at ₹2,68,316 per kg, gaining nearly 3%.
Gold prices declined in international markets, too. US gold futures April contracts slipped by half a per cent.
Meanwhile, the dollar index slipped by 0.20%, making the greenback-backed yellow metal cheaper for overseas buyers.
Investors are booking some profit in precious metals even as their medium to long-term trend remains bullish.
Uncertainty surrounding US tariffs remains a key trigger for gold prices. Besides, the evolving situation between the US and Iran is also supportive for gold.
(This is a developing story. Please check back for fresh updates.)