Gold Prices Fall Rs 589 to Rs 1.55 Lakh per 10 Grams in Futures Market

Gold prices in India dropped by Rs 589, settling at Rs 1.55 lakh per 10 grams in the futures trading market on 16 February 2026. The decline was attributed to a bearish trend prevailing in international markets. On the Multi Commodity Exchange (MCX), gold for April delivery fell by 0.38%, trading at Rs 1,55,306 per 10 grams with a recorded business turnover of 7,695 lots.

In the global context, Comex gold futures for the April contract decreased by $24.31, bringing it down to $5,021.99 per ounce in New York. Jigar Trivedi, a Senior Research Analyst at IndusInd Securities, noted that gold prices fell to around $5,000 per ounce after previously witnessing an increase of over 2% due to less-than-expected figures from the US Consumer Price Index (CPI) inflation data.

Manav Modi, an Analyst from Motilal Oswal Financial Services Ltd, identified that elevated geopolitical risks continue to provide some support for gold, particularly following reports of the USS Gerald R Ford aircraft carrier's deployment to the Middle East amid stalled nuclear discussions with Iran.

He further indicated that the market is considering the potential inflationary pressures from renewed tariff threats by US President Donald Trump, along with ongoing uncertainties surrounding the Federal Reserve's credibility and its forthcoming policy decisions. "Gold is trading at a discount for the first time in nearly a month, although demand from China remains strong, with Shanghai warehouse stocks exceeding 100 tonnes," Modi stated, emphasising robust physical buying interest.

Markets were impacted by the closure of US trading on account of President's Day, while Chinese markets are closed for a week due to the Lunar New Year celebrations. Investors are now anticipating new insights from upcoming data on the Personal Consumption Expenditures (PCE) price index and minutes from the Federal Open Market Committee (FOMC) meeting.