Gold slips on strong dollar, silver shows cautious gains; 24K, 22K, 18K rates in focus

On the global front, spot gold fell 1.5% to $5,150.38 per ounce after earlier touching a more than three-week high. US gold futures for April delivery dropped 1.1% to $5,170.70 per ounce.

Post Published By: Sujata Biswal

Updated : 24 February 2026, 1:58 PM IST

MCX gold falls amid dollar strength

New Delhi: Gold prices declined on Tuesday as a stronger US dollar weighed on bullion, despite ongoing tariff uncertainty and tensions surrounding US-Iran peace talks. Silver prices also witnessed volatility, slipping sharply in global markets.

On the global front, spot gold fell 1.5% to $5,150.38 per ounce after earlier touching a more than three-week high. US gold futures for April delivery dropped 1.1% to $5,170.70 per ounce.

Meanwhile, spot silver plunged 3.1% to $85.50 per ounce after hitting a two-week high in the previous session.

Shanghai Silver Trades at Strong Premium

The Shanghai silver market reopened following the Lunar New Year holiday and is currently trading at a notable premium compared to Western markets. The Shanghai silver price is quoting at $94.38 per ounce - over $7 higher than the COMEX silver rate - reflecting tight domestic supply and strong industrial demand in China.

What’s Pressuring Gold?

The US dollar strengthened, making dollar-denominated bullion more expensive for holders of other currencies, thereby reducing demand.

Investors also remained cautious amid fresh developments in US-Iran peace negotiations and trade policy uncertainty. US President Donald Trump warned countries against stepping back from recently negotiated trade deals after the US Supreme Court struck down his emergency tariff measures.

Stay tuned for live updates on 24K, 22K, and 18K gold prices across major Indian cities.