Gold and silver prices witnessed a massive jump in the Indian futures market on February 9, 2026. After a significant drop following the budget announcements, the market is now showing signs of strong recovery. Both precious metals recorded sharp gains on the Multi Commodity Exchange (MCX) today, bringing attention back to bullion trading.
Latest MCX Rates for Gold and Silver
On the MCX platform, the April contract for gold saw a rise ranging from ₹2,200 to ₹2,595. It is currently trading near the level of ₹1,56,000 per 10 grams. During the day, gold prices even touched a high of ₹1,58,500. This increase comes after a period of volatility observed in the last few days.
Silver also made a strong comeback with a huge jump in its prices. The March futures for silver on MCX jumped by ₹14,108, which is about 5.65 percent. The price reached ₹2,59,887 per kilogram. In some trading sessions, silver even crossed the ₹2,61,000 mark. This indicates a very strong buying interest in the white metal.
Spot Market Rates and Reasons for Rise
In the physical market, rates were updated by the India Bullion and Jewelers Association (IBJA). The opening rate for 24-carat gold was ₹1,52,078 per 10 grams, while 22-carat gold was priced at ₹1,39,303 excluding GST. Silver of 999 purity was recorded at ₹2,44,929 per kilogram. These rates serve as a benchmark for jewelers across the country.
Several global factors are behind this sudden rise in prices. The US dollar has weakened globally, which supports gold prices. Additionally, election results in Japan and geopolitical talks between the US and Iran have pushed investors towards safe assets. Buying at lower levels after the budget drop has also played a key role in lifting the market sentiment.
