Gold Price Today: Gold and silver prices witnessed volatile moves at the opening bell on Wednesday, February 18, with domestic markets rebounding even as global sentiment remained cautious amid Lunar New Year holidays across several Asian countries. On the Multi Commodity Exchange (MCX), gold April futures jumped nearly ₹2,000, or 1.2%, to open at ₹1,53,303 per 10 grams, driven largely by short covering after a two-day decline. Meanwhile, MCX silver March futures surged over ₹4,100, or close to 2%, to ₹2,32,930 per kg at market open, reflecting strong recovery momentum in domestic bullion counters.
On the international front, COMEX prices edged higher in early trade, supported by buying on dips, although gains were capped by a firmer US dollar and progress in US-Iran talks. Spot gold was trading at $4,901 per ounce during Asian trading hours, still about 15% below its record high of $5,626.80 per ounce. Spot silver, however, slipped over 1% to $72.30 per ounce and remains significantly lower — nearly 67% below its all-time high of $121.78 per ounce — amid thin volumes due to holiday closures in key Asian markets.
GOLD PRICE TODAY: MAJOR NEWS AND EVENTS TO BE ON A LOOK OUT FOR
Major Events: Tuesday, February 18, 2026
- 7:45 PM | U.S.– Industrial Production MoM (January).
- 07:45 PM | U.S. – Manufacturing Production MoM (January)
- 12:30 AM | U.S.- – FOMC Meeting Minutes
Russia and Ukraine talk to continue today
Russian and Ukrainian delegations wrapped up the first day of U.S.-mediated peace talks in Geneva, just one week before the fourth anniversary of Moscow’s full-scale invasion of Ukraine.
Ukraine’s chief negotiator, Rustem Umerov, confirmed that discussions are set to continue in the Swiss city on Wednesday morning. However, hopes for a breakthrough in this third round of trilateral negotiations remain subdued, as the Kremlin has not indicated that it will retreat from its broad territorial demands. At the same time, Russian strikes persist on a nightly basis, further straining Ukraine’s already fragile power infrastructure amid freezing temperatures.
U.S.-Iran Nuclear Talks Update
Following talks in Geneva on Tuesday between the United States and Iran regarding Tehran’s nuclear energy programme — alongside separate trilateral discussions involving the U.S., Russia and Ukraine on the ongoing conflict — Iranian officials expressed optimism about the chances of reaching an agreement. Meanwhile, negotiations between the U.S., Russia and Ukraine are scheduled to continue on Wednesday.
After the meeting with Iran, a U.S. official stated that meaningful progress had been achieved, although several key issues still need further deliberation. The official also noted that Iranian representatives signalled their intention to return within the next two weeks with detailed proposals aimed at narrowing the remaining differences between the two sides.
Fed’s Michael Barr Signals No Rate Cuts
Federal Reserve Governor Michael Barr said interest rates should remain steady until policymakers have clearer confirmation that inflation is moving sustainably toward the central bank’s 2% target.
Barr emphasized that he would need to see consistent signs of easing goods-price inflation before backing any additional rate cuts, provided labour market conditions remain stable. He also rejected the notion that an artificial intelligence-driven productivity surge would warrant lower rates, citing the 1990s as a period when strong productivity gains failed to prevent rising inflationary pressures
GOLD PRICE TODAY: EXPERT OPINION
Manoj Kumar Jain, Director Prithvi Finmart, a senior financial market expert, said:
“On Tuesday, gold and silver were settled on a weaker note in the international markets. Gold April futures contracts were settled at $4,905.90 per troy ounce, down by 2.17%, and silver March futures contracts were settled at $73.54 per troy ounce, down by 3.94%. Domestic markets were also settled on a weaker note. Gold April futures contract settled at
Rs1,51,418 per 10 grams with a loss of 2.16%, and the silver March futures contract settled at Rs2,28,783 per kilogram with a loss of 4.63%
Gold and silver extended their fall amid optimism of the U.S. and Iran trade deal after both countries’ counterparts met in Geneva for the Geneva forsecond round of talks on Tuesday. Statements are coming from the U.S. and Iran, showing positive developments on the deal between the two countries. Safe-haven buying eases amid US-Iran deal optimism.
The dollar index is also showing strength and crosses 97 marks once again, and also pushed gold and silver prices lower. Holidays in the Chinese markets for the week due to the Lunar New Year are also a reason for panic selling in precious metal markets. We are experiencing very high price volatility in both precious metals, but silver prices could hold their support level of $63.90 per troy ounce, and gold prices could also hold their support level of $4,770 per troy ounce on a closing basisthis week.”
Manoj Kumar Jain View for Today (For Gold and Silver) | 18/02/2026
“We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, US-Iran talks, ahead of the key U.S. economic data, and geopolitical tensions. Gold has support at $4880-$4824, while resistance is at $4955-$5000 per troy ounce, and silver has support at $71.20-$68.80, while resistance is at $76.00-$78.40 per troy ounce in today’ssession.
At MCX, gold is having support at ₹149800-₹147700 and resistance at ₹153150-₹155500, while silver is having support at ₹224400-₹218800 and resistance at ₹232200-₹236000.”
Kedia Commodity View for Today (For Gold) | 18/02/2026
“Technically, gold is under fresh selling pressure, with open interest up 1.07%. Immediate support lies at ₹150,110, with further downside toward ₹148,805. Resistance is seen at ₹153,340, and a break above could test ₹155,265.”
Kedia Commodity View for Today (For Silver) | 18/02/2026
“Technically, silver is under fresh selling pressure, with open interest rising 2.71%. Immediate support isseen at ₹224,000, with further downside toward ₹219,215. Resistance stands at ₹235,645, and a rebound could test ₹242,505.”
SMC View for Today (For Gold and Silver) | 18/02/2026
GOLD PRICE TODAY: FAQs
1. Why did gold and silver prices rise on MCX today?
MCX gold and silver rebounded due to short covering after a two-day decline. Traders squared off bearish positions at lower levels, leading to a sharp bounce at market open.
2. What are the current COMEX gold and silver prices?
Spot gold was trading around $4,901 per ounce, nearly 15% below its all-time high of $5,626.80. Spot silver slipped over 1% to $72.30 per ounce and remains about 67% below its record high of $121.78.
3. How are U.S.-Iran talks impacting gold prices?
Optimism surrounding progress in U.S.-Iran nuclear discussions has reduced safe-haven demand for gold. Positive diplomatic signals tend to weigh on bullion, as geopolitical risk premiums decline.
4. What major events should investors track today?
Key triggers include U.S. Industrial Production data, Manufacturing Production numbers, and the FOMC Meeting Minutes. Ongoing Russia-Ukraine peace talks may also influence global risk sentiment.
5. What are the key support and resistance levels for gold and silver?
For COMEX gold, support lies at $4,880–$4,824 and resistance at $4,955–$5,000. On MCX, gold support is seen at ₹1,49,800–₹1,47,700 and resistance at ₹1,53,150–₹1,55,500. Silver support on MCX stands at ₹2,24,400–₹2,18,800, while resistance is at ₹2,32,200–₹2,36,000.
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