After Rs 47,000 Feb fall, is silver attractive or still expensive? How about gold after Rs 5,600 uptick?

Domestic gold prices traded positive in the opening trade on Friday amid positive global cues as geopolitical tensions kept the yellow metal’s haven appeal intact. The April gold futures on the MCX were up by nearly Rs 1,100 per 10 gram or 0.70% at Rs

1,55,940. Meanwhile, March silver futures were trading at Rs 2,45,713 per kg, up 1.79% or Rs 4,320 over the previous closing price of Rs 2,41,400.

Gold prices on the COMEX were hovering around $5,017.60, gaining $20.20 or 0.40%, while those of silver traded at $78.310 an ounce, up by $0.676.


Gold prices have corrected by 25% or Rs 38,000 from their peak after a stellar rally in 2025 that trickled into January as well. Likewise, silver is also under consolidation, sharply down from the lifetime high of Rs 4,20,048. The white metal is down by 41% or Rs 1,74,000 from the peak.

Despite the recent correction, gold prices have surged 14% or by Rs 20,000 this year while rising 4% (5,600) in February, commodity & currency Anuj Gupta said, arguing for long term promise intact in gold and silver.

The while metal has declined 16% (Rs 47,437) this month while rising nearly 4% (Rs 8,800) on the year-to-date basis.

Jateen Trivedi, Vice President and Research Analyst, Commodity and Currency at LKP Securities, sees positive trends for gold to sustain in the wake of a logjam in U.S.-Iran talks, reigniting military tensions and prompting fresh safe-haven buying. Though the gains have remained capped as delayed rate cut expectations and profit booking have limited the upside momentum, he said.

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"On the technical front, resistance is seen in the $5,000 to $5,025 zone on COMEX and Rs 1,57,500 to Rs 1,58,500 on MCX, while support is placed near $4,925 and Rs 1,52,000. Volatility is likely to persist amid geopolitical headlines and Fed rate outlook cues," Trivedi said.

Domestically, bullion got a shot in the arm after MCX and the National Stock Exchange of India (NSE) announced the withdrawal of additional margins on gold and silver futures contracts, effective Thursday, February 19. MCX said it will remove the additional 3% margin on all gold futures contracts and the 7% additional margin on all silver futures contracts that were introduced earlier this month. The exchange has advised its clearing members to take note of the revision.

The removal of the additional 3% margin on gold and 7% on silver lowers capital requirements for traders, improving capital efficiency, particularly for leveraged participants. Typically, lower margins encourage higher speculative participation, fresh long and short positions, and greater intraday activity, which can improve liquidity in gold and silver futures.

The additional margins were initially levied as a risk management measure following sharp volatility in bullion prices. However, after a recent correction in gold and silver, both exchanges have decided to roll back the curbs, a move that is expected to ease trading costs for market participants.

Gold trading strategy

-- Buy MCX April gold futures at Rs 1,54,000 with a stop loss of Rs 1,52,000 and target of Rs 1,57,000.

-- Buy March silver futures at Rs 2,40,000 with a stop loss of Rs 2,36,000 and target of Rs 2,48,000.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)