Gold Price Today: Gold and silver prices opened higher on the MCX on Wednesday, February 11, recovering after Tuesday’s decline. MCX gold April futures rose by over ₹1,600, or 1%, to ₹1,58,436 per 10 grams in the morning session, supported by positive global cues and steady spot buying. Meanwhile, MCX silver March contracts jumped nearly ₹8,300, or 3.3%, to ₹2,60,838 per kg. The uptick came amid expectations of a potential US Federal Reserve rate cut, along with softer US bond yields and a stronger dollar, which boosted gold’s safe-haven appeal.
On the global front, COMEX prices also opened on a firm note during Asian trading hours. Spot gold traded marginally higher at $5,065 per ounce, while spot silver surged 1.16% to $81.32 per ounce on February 11. Despite the rebound, gold remains nearly 11% below its record high of $5,608.35 touched on January 29. Silver, on the other hand, is still about 50% below its all-time high of $121.67 per ounce.
GOLD PRICE TODAY: MAJOR NEWS AND EVENTS TO LOOK OUT FOR
Key Events to look out for
GOLD PRICE TODAY: THE SILVER INSTITUTE OUTLOOK SUMMARY
Recently The Silver Institute released a report on silver’s performance till now and outlook for the year.
According to the report, Silver has delivered its best yearly performance since 1979, and it had continued its strong run in 2026. Prices crossed the important $100 mark for the first time in history, before cooling down to below $80. Even after the drop, silver has remained stable and strong.
What is driving the rally?
Silver prices have stayed strong because of:
- Global political tensions
- Uncertainty around US policies
- Concerns about the US Federal Reserve
- Tight physical supply of silver, especially in London
Another important factor: the silver market is expected to remain in shortage (deficit) for the sixth year in a row in 2026. This means demand is still higher than supply.
Where is Silver being used?
Industrial use of silver is expected to fall by about 2% to around 650 million ounces.
The main reason? The solar panel industry (photovoltaics) is using less silver per panel due to cost-saving innovations and alternative materials.
However, other industries are helping balance things out:
- Data centers
- Artificial intelligence technologies
- Automotive sector
These sectors continue to need silver for electronics and advanced components.
In Jewellery Sector, high silver prices are reducing consumer buying:
- Jewelry demand is expected to drop by over 9%, especially in India.
- Silverware demand could fall by 17%, mainly because it is price-sensitive and often bought as gifts.
China is an exception, where demand is slightly increasing due to new designs and gold-plated silver jewelry.
While jewelry demand is falling, investment demand is rising sharply.
- Physical investment (coins and bars) is expected to jump 20% to a three-year high.
- Investors in Western countries are returning after three weak years.
- Indian investors are also buying more silver.
Global silver exchange-traded products (ETPs) currently hold around 1.31 billion ounces.
Can anything be done for the defecit?
Total global silver supply is expected to rise slightly by 1.5% to 1.05 billion ounces — the highest in 10 years.
According to the Mine Production data:
- Silver mining is expected to increase by 1%.
- Growth is coming from Mexico, China, Canada, and Morocco.
- Peru may see lower output.
Recycling is expected to grow by 7%, crossing 200 million ounces for the first time since 2012. Many people are selling old silver items to take advantage of high prices.
Even though supply is increasing slightly, it is not enough.
The silver market is expected to face a 67 million ounce deficit in 2026. This means more silver is being used than produced.
To meet demand, the market will rely on existing above-ground silver inventories — which keeps the physical market tight.
What is outlook of Silver for 2026?
Silver prices are already up 11% in 2026 (as of early February). Experts believe:
- Political and economic uncertainty will continue to support prices.
- Tight physical supply in London may keep pressure on the market.
- Gold’s strong performance could also support silver.
However, investors should expect high price volatility.
GOLD PRICE TODAY: EXPERT OPINIONS
Manoj Kumar Jain, a senior financial market expert, said:
“On Tuesday, gold and silver were settled on a weaker note in the international markets. Gold April futures contract were settled at $5,031.00 per troy ounce down by 0.95% and silver March futures contract were settled at $80.384 per troy ounce, down by 2.25%. Domestic markets were also settled on weaker note. Gold April futures contract settled at Rs1,56,803 per 10 grams with a loss of 0.80% and silver March futures contract settled at Rs2,52,548 per kilogram with a loss of 3.84%
Gold and silvershow very high price volatility and show profit taking from their high ahead of the U.S. job data and consumer inflation data. Traders are looking cautious in both precious metals at higher levels. However, the U.S. retail sales and core retail sales data released on Tuesday was weaker-than-expected and supported both precious metals at lower levels. Weakness in the dollar index and Fed rate cut expectations are also supporting gold and silver prices.
The Chinese Government and Bank of Japan’s selling in the U.S. treasuries could push the dollar index lower and also support gold and silver prices in medium to longer term. We are experiencing very high price volatility in both precious metals but silver prices could hold its support level of $65 per troy ounce and gold prices could also hold its support level of $4,680 per troy ounce on a closing basis this week. We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, partial shutdown in the U.S. and geo-political tensions”
Manoj Kumar Jain View for Today (For Gold and Silver) | 11/02/2026
“Gold hassupport at $5000-4970 while resistance at $5080-$5122 per troy ounce and silver hassupport at $78.00-$74.40, while resistance is at $84.40-$88.00 per troy ounce in today’ssession. At mcx, gold is having support at ₹155500-₹154000 and resistance at ₹157700-₹159000 while silver is having support at ₹248800-
₹244000 and resistance at ₹255500-₹260000″
Kedia Commodity View for Today (For Gold and Silver) | 11/02/2026
“Technically, the market is witnessing long liquidation with marginal decline in open interest. Gold finds immediate support at ₹1,55,570; below this, ₹1,54,335 could be tested. Resistance is seen at ₹1,58,470, with a breakout potentially targeting ₹1,60,135.. Immediate support is seen at ₹2,47,175, with further downside toward ₹2,41,810. Resistance stands at ₹2,60,830, and a sustained move above this level could push prices toward ₹2,69,120.”
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