Gold and Silver Prices Rise Again After Recent Fall; Here’s Why
Hyderabad | February 9, 2026 | DeccanLive.com
Gold and silver prices have once again moved upward after seeing a sharp fall in recent weeks. Both precious metals, which had dropped heavily, are now gaining strength in the futures and spot markets.
In the futures market, silver prices rose by nearly 5 percent. On the Multi Commodity Exchange (MCX), the March silver contract increased by 4.74 percent to reach ₹2,61,745 per kg, showing a jump of around ₹11,000.
Gold prices also recorded gains. The April gold contract for 10 grams rose by 1.3 percent to ₹1,57,540, an increase of nearly ₹2,000.
In the international market, spot gold crossed the $5,000 per ounce mark again. Around Monday afternoon, gold was trading at $5,004 per ounce, while silver was priced near $81 per ounce. Following global trends, domestic prices also moved higher.
In the Hyderabad bullion market, gold is trading close to ₹1.60 lakh, while silver prices are holding above ₹2.70 lakh per kg.
Market experts say that prices had fallen sharply earlier due to heavy correction, especially in silver, which dropped almost by half. This fall encouraged traders to buy at lower levels, providing support to prices. A weakening US dollar has also helped boost gold and silver prices.
Another major reason for the rise is strong demand from China’s central bank, which has reportedly been buying large quantities of gold for the 15th consecutive month.
Analysts believe that upcoming US employment and inflation data, along with decisions by the US Federal Reserve, may further influence gold and silver prices this week.
Meanwhile, US Treasury Secretary Scott Bessent stated that recent sharp fluctuations in gold and silver prices were mainly due to speculative trading by Chinese traders.
