Precious metal prices for gold and silver dropped in early trade on Monday amid rising fears and uncertainty over the Federal Reserve’s interest rate path.
Silver opened at Rs 237,263 per kilogram on February 16, reflecting a 2.9 per cent decline from the previous close. Silver had traded at Rs 274,000 per kg at the start of 2026.
The metal fell from $78, but recovered some losses after steadily climbing back to $75 per ounce, recording a decline of 3.31 per cent from its previous close.
The International Bullion and Jewellers Association pegged the standard price of silver at Rs 242,433 for 999 purity in its 6:30 pm rate session on February 13.
MCX gold for April futures contracts opened 0.57 per cent lower at ₹154,999 per 10 grams compared with its previous close of ₹155,895.
Meanwhile, Asian markets have also slumped owing to Japan’s slow growth and below-par performance of its currency and economy at the international level.
The economy significantly missed market expectations in a key test to re-elect Prime Minister Sanae Takaichi’s government as cost-of-living pressures drag on confidence and domestic demand.
Monday’s economic outlook data brings sharp focus to the challenge facing policymakers and the Japanese government, which—despite announcing major reforms and a record budget— is struggling with stagnant growth.
Gross domestic product in the world’s fourth-largest economy increased an annualised 0.2 per cent in the October–December quarter, government data showed, well short of a median market estimate of 1.6 per cent gain.
It barely scraped back to growth from a larger revised 2.6 per cent contraction in the previous quarter.
Also read: Precious metals jittery ahead of US GDP data
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