Gold Price Today: On Tuesday, February 24, gold and silver prices opened lower on the Multi-Commodity Exchange (MCX) amid continued global tariff uncertainty and a stronger US dollar. At the market open, spot prices on MCX showed gold down by 0.61% at ₹1,58,320 per 10 grams, while silver declined 0.60% to ₹2,63,728 per kg, reflecting cautious sentiment among domestic traders in early trade.
In the international market, weakness was also visible during Asian trading hours. Spot gold slipped nearly 0.71% to $5,187 per ounce, while spot silver eased 0.32% to $86.36 per ounce, mirroring the pressure seen in Indian markets as investors reacted to currency strength and ongoing tariff-related concerns.
GOLD PRICE TODAY: MAJOR EVENTS OF THE DAY (24th Feb, 2026)
Key Events of the Day
Tuesday, February 24, 2026
07:00 AM – China Market Opens, China Loan Prime Rate (1-Year & 5-Year) Announcement
06:30 PM – Fed President Austan Goolsbee Speech
06:45 PM – US ADP Employment Change (Weekly)
07:30 PM – Fed President Raphael Bostic Speech
08:30 PM – US CB Consumer Confidence Data
Trump Signals Tougher Trade Measures After Supreme Court Tariff Ruling
U.S. President Donald Trump on Monday warned that countries could face stricter trade measures if they withdraw from recently negotiated agreements with the United States, following the Supreme Court’s decision to strike down his emergency tariffs. According to sources, the European Parliament has postponed a vote to ratify a U.S. trade deal, contributing to uncertainty around global trade negotiations. Trump also stated that new license fees on trading partners could be introduced, though no further details were disclosed.
The U.S. administration announced it would stop collecting duties deemed illegal and instead implement a new set of temporary tariffs starting at midnight. The developments weighed on global markets, with equities declining amid uncertainty over the direction of tariff policy. In a series of social media posts, Trump said that countries stepping back from trade agreements could face significantly higher duties under alternative trade laws, while indicating that additional trade measures remain under consideration.
Separately, Japan’s Trade Minister Ryosei Akazawa cautioned against tariff measures that could leave Japan in a less favorable position than under the Japan–U.S. trade agreement reached last year. The remarks were made during a phone conversation with U.S. Commerce Secretary Howard Lutnick ahead of a new round of U.S. tariffs. During the approximately 40-minute call on Monday evening, both sides agreed to maintain close cooperation to ensure the smooth and timely implementation of projects linked to a $550 billion investment framework, according to a statement from Japan’s trade ministry.
China Keeps Key Lending Rates Unchanged for Tenth Straight Month
China’s central bank on Tuesday kept its key benchmark lending rates unchanged, maintaining its current monetary policy stance. The move signals policy continuity amid ongoing economic assessments.
The People’s Bank of China left the one-year loan prime rate (LPR) at 3% and the five-year LPR at 3.5%, marking the tenth consecutive month that the benchmark rates have remained unchanged.
Chinese Imports of Russian Precious Metal Ores Jump 80% to $1 Billion
Chinese imports of Russian precious metal ores and concentrates, including gold and silver, increased 80% year-on-year to $1 billion, according to a Bloomberg report citing data from Trade Data Monitor and China’s customs authorities. The rise reflects stronger trade flows between the two countries in the precious metals segment.
The report also noted that bullion prices have climbed about 28% so far this year, supported by escalating geopolitical tensions, ongoing trade uncertainties, and continued buying by central banks and exchange-traded funds.
Iran and U.S. to Hold Third Round of Nuclear Talks in Geneva on February 26
Iran and the United States are set to hold a third round of nuclear negotiations on Thursday, February 26, 2026, in Geneva, Oman’s Foreign Minister Badr Albusaidi said on Sunday. The announcement comes amid rising concerns over the possibility of military confrontation between the two long-time rivals.
The United States has recently reinforced its military presence in the Middle East. President Donald Trump stated on Thursday that “really bad things will happen” if an agreement is not reached to resolve the prolonged dispute over Tehran’s nuclear programme.
Fresh Round of Ukraine Peace Talks May Be Held Later This Week
Another round of negotiations aimed at ending the war in Ukraine could take place later this week, President Volodymyr Zelenskiy’s chief of staff said in remarks to Ukrainian media on Monday.
Ukraine, Russia, and the United States have already conducted several rounds of discussions in Abu Dhabi and Geneva, as Washington continues to push for a resolution to the conflict that has persisted for four years since Moscow’s 2022 invasion.
European Parliament Delays Vote on EU–U.S. Trade Deal After New U.S. Tariff Move
The European Parliament on Monday postponed for the second time a vote on the European Union’s trade agreement with the United States, following U.S. President Donald Trump’s decision to impose a new blanket 15% import tariff. The move adds uncertainty to the progress of the trade deal reached between the two sides last year.
The EU assembly has been reviewing legislative proposals aimed at removing several EU import duties on American goods — a key component of the agreement reached in Turnberry, Scotland, last July — along with extending zero-duty access for U.S. lobster imports, a measure initially agreed with Trump in 2020. The proposals still require approval from both the European Parliament and EU member states.
The European Parliament’s trade committee deferred a vote that had been scheduled for Tuesday. Committee Chair Bernd Lange said the newly introduced temporary U.S. tariff could lead to higher duties on certain EU exports, while uncertainty remains over the situation once the measure expires after 150 days. EU lawmakers are expected to reconvene on March 4 to assess whether the United States has provided further clarity and reaffirmed its commitment to last year’s agreement.
GOLD PRICE TODAY: EXPERT OPINIONS
Manoj Kumar Jain, Director Prithvi Finmart, a senior financial market expert, said:
“On Monday, gold and silver were settled on a positive note in the international markets. Gold April futures contracts were settled at $5,225.60 per troy ounce, up by 2.85% and silver March futures contracts were settled at $86.573 per troy ounce, up by 5.14%.
Domestic markets were also settled on a positive note. Gold April futures contract settled at Rs1,61,598 per 10 grams with a gain of 3.01%, and silver March futures contract settled at Rs2,65,333 per kilogram with a gain of 4.90%
Gold and silver extended their gains amid safe-haven buying due to the Trump tariff uncertainty. After the U.S. Supreme Court’s ruling, the U.S. President imposed 15% global trade tariffs and increased uncertainty in global trade once again. The U.S. equity markets plunged and a sell-off was also observed in Crypto markets. Global uncertainty pushed traders and investors towards safe-haven assets.
Gold prices crossed $5200 per troy ounce and hit a one-month high, while silver prices crossed $86 per troy ounce. Chinese markets are reopening today after long festival holidays and could also support prices of both precious metals.”
Manoj Kumar Jain View for Today (For Gold and Silver) | 24/02/206
“We are experiencing very high price volatility in both precious metals, but silver prices could hold their support level of $68.00 per troy ounce, and gold prices could also hold their support level of $4,880 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, US-Iran tension,s and reopening of Chinese markets after week long holidays.
As per the daily technical chart, a pair has support at 90.5000-90.2200 while resistance is placed at 91.0800-91.3500. A pair istrading above its support level of 90.7400 and expected to trade in the range of
89.8000-92.2000 this week.
Gold has support at $5164-5122, while resistance is at $5270-5330 per troy ounce, and silver has support at $84.00-81.80, while resistance is at $88.00-92.00 per troy ounce in today’ssession.
At MCX, gold is having support at 160600-158800 and resistance at 163300-165000, while silver is having support at 261000-256600 and resistance at 270000-278000.”
Kedia Commodity View for Today (For Gold) | 24/02/2026
“Immediate support lies at 159,230, with a break below potentially testing 156,865; resistance is now near 162,845, and a sustained break
Above could target 164,095 levels.”
Kedia Commodity View for Today (For Silver) | 24/02/2026
“Technically, the market reflects fresh buying, with open interest rising 3.82%. Immediate support is seen at ₹260,615, with a break potentially extending toward ₹255,900. Resistance stands at ₹269,460, and a sustained move higher could test ₹273,590.”
GOLD PRICE TODAY: OUTLOOKS
UBS Outlook of Gold and Silver
Gold demand is forecast to rise further. Data from the World Gold Council showed that total gold demand exceeded 5,000 metric tons for the first time in 2025, and we expect demand to pick up further, supported by rising investment activity and robust central bank purchases.
Higher incomes in Asia should also underpin longer-term
structural demand for gold jewelry. Supply, meanwhile, has been stagnant. While strong gold prices may stimulate mine exploration and development, Wood Mackenzie estimates that 80 mines will exhaust their current production plans by 2028.
So, we maintain our Attractive view on gold, and view the yellow metal as an effective portfolio diversifier that can help hedge against a range of market and economic risks. Investors with an affinity for gold could consider an up to mid-singledigit allocation in a diversified portfolio
GOLD PRICE TODAY: FAQs
1. Why did gold and silver prices fall on February 24, 2026?
Gold and silver prices declined due to continued global tariff uncertainty and a stronger US dollar, which pressured bullion prices in both domestic and international markets.
2. What were the MCX spot prices at market open?
Gold opened at ₹1,58,320 per 10 grams, down 0.61%, while silver opened at ₹2,63,728 per kg, down 0.60%.
3. How are global events impacting gold prices?
U.S. tariff developments, geopolitical tensions involving Iran and Ukraine, and delays in EU–U.S. trade agreements are increasing global uncertainty, which is contributing to volatility in precious metals.
4. What is China’s role in the current bullion market movement?
China kept its Loan Prime Rates unchanged for the tenth consecutive month. Additionally, Chinese imports of Russian precious metal ores surged 80% year-on-year, reflecting strong trade activity in the sector.
5. What is the long-term outlook for gold according to market outlooks?
Gold demand remains strong, with total demand exceeding 5,000 metric tons in 2025. Rising investment activity, central bank purchases, and limited mine supply are expected to support prices over the longer term, according to outlook assessments.
Disclaimer: This news has been created for informational purposes only and is not investment or trading advice. The opinions mentioned in the story belong to experts and brokerage houses. The people associated with Gold Price Today do not personally trade in gold or silver. We do not hold any position in gold or silver. Please consult your financial advisor before making any investment. Investing in gold and silver involves risk; use your own discretion. We are not responsible for any losses incurred by you.
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