Gold Price Today: Precious metals opened higher at the start of trading on Friday amid continued geopolitical tensions. On the MCX, gold April futures were up 0.20% at ₹1,55,110 per 10 grams at market open, while silver March contracts gained 0.65% to trade at ₹2,42,974 per kilogram in early deals.
In the international market, Comex gold April futures advanced by $31.4 per troy ounce to reach $5,040 at the open, extending gains from the previous session. Silver March delivery contracts on Comex also moved higher, rising $1.8 per troy ounce to $79.40, continuing their recent upward momentum.
GOLD PRICE TODAY: MAJOR NEWS AND EVENTS TO BE ON A LOOK OUT FOR
Major Events: Friday, February 20, 2026
- 07:00 PM | U.S. – Core PCE Price Index MoM (December)
- 07:00 PM | U.S. – GDP Growth Rate QoQ (Advance, Q4)
Trump Signals Potential Iran Strike Amid Middle East Military Buildup
President Donald Trump said he will decide “over the next probably 10 days” whether to launch a strike against Iran. A significant U.S. military buildup is currently underway in the Middle East, with the USS Abraham Lincoln aircraft carrier already deployed in the region and a second carrier, the USS Gerald Ford, en route.
“You’ll be finding out over the next probably 10 days,” he said. When later asked to elaborate, he told reporters aboard Air Force One, “I would think that would be enough time — 10 to 15 days, pretty much the maximum.” He declined to provide further specifics but reiterated his warning of “really bad things” and insisted that Iran would ultimately have to reach a deal one way or another.
President Donald Trump has warned of possible military strikes against Iran over its nuclear programme. The United States has deployed additional warships and fighter jets to the region, while Iran has threatened retaliation against U.S. bases if it comes under attack. The Kremlin has called on all sides to exercise restraint, and oil prices have climbed amid fears of a potential escalation involving Iran.
The UK government has not authorised the United States to use the Diego Garcia military base for a potential strike on Iran, citing concerns related to international law. U.S. President Donald Trump said the Diego Garcia facility could play a crucial role in any hypothetical American military action against Iran and voiced opposition to the UK’s agreement to transfer sovereignty of the Chagos Islands to Mauritius.
Trump’s remarks signalled a shift in his stance, as he had previously supported the deal, while the UK government maintains that the agreement is the only way to secure the long-term future of the strategically important military base.
Iran and Russia Hold Joint Naval Drills Amid US Strike Threats
Russia and Iran carried out joint naval exercises on Thursday as regional tensions escalate and the United States weighs potential strikes on Tehran.
The exercises involved Iranian and Russian special naval forces simulating the liberation of a hijacked ship, incorporating aerial reconnaissance, surface operations, and capturing simulated pirates. Analysts have warned that such drills increase the risk of unintended escalation in the region.
The Kremlin emphasized that it hopes for a diplomatic solution to the tensions between the US and Iran, noting that the exercises had been planned in advance and were not a direct response to current developments.
Earlier in the week, Iran’s Islamic Revolutionary Guard Corps conducted drills in the Strait of Hormuz, temporarily closing sections of the waterway, signaling a warning of potential retaliation against any US strikes.
The US has deployed two aircraft carrier strike groups to the Middle East, and flight tracking data shows a steady stream of American warplanes arriving in the region. Senior national security officials have indicated that the military could launch operations as early as Saturday, though a final decision has not yet been made.
Meanwhile, ongoing nuclear talks in Geneva have shown some progress, but significant differences persist between US demands and Iran’s willingness to concede, leaving the potential for a deal to avert conflict uncertain.
GOLD PRICE TODAY: OUTLOOK OF 2026 by AuAg
AuAg Funds, a leading investment company, has released its 2026 outlook. The analysts expect gold to rise strongly this year, potentially reaching $6,000 per ounce. Silver could touch $133 per ounce, which would push the gold-to-silver ratio up to around 45.
Recent Market Context: This forecast comes after gold, which reached a high of $5,600 last month, suddenly fell by 20%. After finding support at $4,400, gold is now trying to stabilize around the $5,000 level.
Market Pullbacks: “Strong Hands” in Action
According to AuAg Funds, a 20–30% fluctuation in a bullish market is normal. Analysts describe these declines as often being orchestrated pullbacks. When the market becomes excessively frothy, prices are pushed down through large short positions. This forces weaker investors (“weak hands”) to sell in fear, leaving the real buying to major players—the so-called “strong hands.” These strong hands then hold their positions in search of the next major rally.
Key Drivers of the Bullish Trend:
- Rising Global Demand: Demand for gold worldwide is approaching $350 billion.
- Debt Monetization: Central banks, including the US Federal Reserve, are expected to lower interest rates and print money again to stimulate the economy.
- Declining Confidence in the Dollar: As the credibility of the US dollar decreases and currency debasement increases, gold is emerging as an attractive global currency.
- Real vs Reported GDP: Analysts believe that current GDP calculations include many “adjusted expenses,” meaning actual production is lower than reported, which supports higher gold prices.
Silver Outlook:
Analysts believe silver has the potential to double from its current levels. Local demand for silver has been relatively low for several years. However, inelastic demand for silver could push prices up rapidly, especially as shortages can multiply its value in a short period. Silver’s essential uses in solar panels and other electronics ensure demand remains strong, regardless of price increases.
GOLD PRICE TODAY: EXPERT OPINION
Manoj Kumar Jain, Director Prithvi Finmart, a senior financial market expert, said:
“Gold and silver off day’s high in a highly volatile session. Gold and silver gained in the early trading session but slipped from their highs after the U.S. jobless claims dropped last week to 206000 against expected claims of 223000. The dollar index also extended its gain and surged to 2-week high amid fading chances of Fed rate cuts, and also pushed gold and silver prices lower. However, the U.S. and Iran tensions are supporting safe-haven buying for precious metals
The U.S. trade deficits also widened once again last week to $70.3B billion against expectations of $55.5 billion, and supported gold and silver prices. 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 basis this week.“
Manoj Kumar Jain View for Today (For Gold and Silver) | 20/02/2026
“We expect gold and silver prices to remain volatile in today’s session amid volatility in the dollar index, US-Iran tensions, and ahead of the key U.S. economic data and volatility in the rupee. Gold has support at $4964-$4915, while resistance is at $5055-$5122 per troy ounce, and silver has support at $74.40-$72.00, while resistance is at $80.00-$82.40 per troy ounce in today’s session.
At MCX, gold is having support at ₹153150-₹152200 and resistance at ₹155800-₹157500, while silver is having support at ₹236600-₹231000 and resistance at ₹245500-₹251000.”
Kedia Commodity View for Today (For Gold) | 20/02/2026
“Technically, the market is witnessing long liquidation, with open interest down 4.83%. Support isseen at ₹1,53,845 and ₹1,52,875, while resistance stands at ₹1,56,485; a move above thislevelcould test ₹1,58,155.”
Kedia Commodity View for Today (For Silver) | 20/02/2026
“Technically, the market is witnessing fresh selling, with open interest up 3.74%, indicating new short positions. Immediate support isseen at ₹2,38,075 and ₹2,34,750, while resistance stands at ₹2,46,660; a break above could push pricestoward ₹2,51,920.”
GOLD PRICE TODAY: FAQs
1. Why are gold and silver prices rising today?
Precious metals are gaining due to escalating US–Iran tensions, safe-haven buying, and continued geopolitical uncertainty. Additional support comes from widening U.S. trade deficits and global macroeconomic concerns.
2. What are today’s MCX gold and silver opening prices?
On February 20, 2026, MCX gold April futures opened at ₹1,55,110 per 10 grams, while silver March contracts opened at ₹2,42,974 per kilogram.
3. What is happening in the international market?
Comex gold April futures rose to $5,040 per troy ounce at the open, and silver March delivery contracts touched $79.40, continuing their upward momentum from the previous session.
4. What key U.S. events should traders watch today?
Markets are closely watching the U.S. Core PCE Price Index (MoM, December) and the Advance Q4 GDP Growth Rate data, as these could influence dollar movement and precious metal prices.
5. What is the 2026 outlook for gold and silver?
According to AuAg Funds, gold could potentially reach $6,000 per ounce in 2026, while silver may rise to $133 per ounce, driven by global demand, debt monetization, currency debasement concerns, and structural supply-demand factors.
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