On 23 February 2026, gold and silver prices climbed sharply in domestic and international markets as investors turned to safe-haven assets amid economic and geopolitical uncertainty. Gold futures on the Multi Commodity Exchange (MCX reached around ₹1,59,886 per 10 gms, while silver futures jumped to nearly ₹2,68,120 per kilogram earlier in the day. Internationally, bullion also gained ground, with COMEX gold trading above $5,100 per ounce and silver above $86 per ounce. These moves reflect a surge in demand for precious metals as traditional hedges in volatile times.
Author: Aashiya Jain | EQMint | Market News
Gold and silver have captured market attention again on 23 February 2026, posting strong gains after a period of volatility. As traders and investors grapple with global economic developments and shifting trade policies, both metals are being seen as shelters from uncertainty, drawing renewed interest from buyers around the world.
Today’s Live Prices (India, MCX)
Here’s how precious metal prices stood in early trading today:
- Gold (MCX Apr contract): ~₹1,59,886 per 10 grams
- Silver (MCX Apr contract): ~₹2,68,120 per kilogram
In dollar terms, international markets also showed strength on Monday:
- Gold (COMEX): trading above $5,182 per ounce
- Silver (COMEX): around $86.90 per ounce
These figures place both metals at multi-week highs, illustrating the renewed demand from global investors seeking security.
What’s Driving the Rally?
The recent surge in both gold and silver prices isn’t happening in isolation. A blend of geopolitical tensions, trade policy uncertainty, and currency dynamics is encouraging investors to flock toward assets traditionally considered safe during turbulent times.
1. Global Trade Policy Whiplash
One notable factor pushing bullion prices higher has been ongoing confusion around trade agreements involving the United States. A recent U.S. Supreme Court decision restricting tariff authority especially on previously imposed duties added to broader uncertainty about trade norms, economic growth, and corporate planning. Such ambiguity tends to boost safe–haven demand for precious metals as investors look to preserve capital.
2. Geopolitical Tensions
Lingering U.S. Middle East tensions, especially concerns around the U.S. Iran situation, have also created market jitters. In times of geopolitical stress, gold and silver often benefit because they aren’t tied to any one nation’s economic policy or currency movements a quality that enhances their safe haven appeal.
3. Weaker Dollar Makes Metals Attractive
Bullion prices often rise when the U.S. dollar weakens because it makes dollar-priced commodities cheaper for holders of other currencies. Recent softness in the greenback has helped lift gold and silver on global exchanges, a trend that feeds through to domestic prices on MCX and in physical markets.
Understanding the Market Reaction
When gold and silver climb sharply, it tells a deeper story about investor psychology and macroeconomic expectations.
Gold: Steady Haven with Broad Appeal
Gold’s long-standing role as a hedge against inflation and uncertainty has once again come to the fore. Rising above ₹1.59 lakh per 10 gms on MCX, gold’s upward movement suggests investors are looking beyond short-term swings and focusing on preserving value.
Silver: More Volatile, More Opportunity
Silver’s recent jump around 6 % higher in early trade makes it an especially compelling story. Because silver has both investment and industrial demand, its price can swing more than gold’s. Sharp price movements show how traders are balancing broader market risks with expectations of future demand.
What It Means for Buyers and Investors
For individual investors, gold and silver act as diversification tools, especially when markets show signs of stress. Unlike equities and other riskier assets, precious metals tend to offer:
- Safety during market volatility
- A long-term store of value
- Hedge against currency weakness or inflation
However, this does not mean prices will only go up precious metals can be volatile. Buyers should be mindful of entry levels and broader economic trends if considering bullion for investment or discretionary buying.
Looking Ahead
As this week unfolds precious metals markets will keep a close eye on global economic announcements currency movements and geopolitical developments. Whether gold and silver hold these gains or retreat after profit-taking will depend largely on how these underlying factors evolve in the coming sessions.
For now gold and silver’s strong start to the week underscores their enduring role in investment portfolios and their appeal as a shield against uncertainty in global market. Economic data geopolitical tensions and currency swings all play a part in shaping the path forward.
Gold and silver have started the week strong and that says something about their staying power in uncertain times Investors still see them as a safe place to park money when the world feels shaky It’s not just about the numbers either It’s about confidence and trust in these metals when everything else feels unpredictable. This week will be telling If the momentum holds gold and silver could keep climbing If not profit-taking might pull them back.
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Disclaimer: This article is not an investment advice and is for educational purpose only
