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Gold Price Today: MCX Slips at Open as Fed Signals and Geopolitical Tensions Drive Volatility

Gold Price Today: At the opening bell, domestic bullion markets witnessed mild weakness, with MCX gold April futures declining by nearly ₹650, or 0.40%, to ₹1,55,116 per gram, and MCX silver March futures falling by over ₹1,800, or 0.75%, to ₹2,42,439 per kilogram.

In contrast, international markets showed resilience. Comex gold opened at $4,993.70 and advanced 4.30% to $5,013.80 by 11:26 IST, while Comex silver began at $77.145 and edged up 0.257% to $77.855 during the same period.

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GOLD PRICE TODAY: MAJOR NEWS AND EVENTS TO BE ON A LOOK OUT FOR

Major Events: Tuesday, February 19, 2026

  • 06:50 PM | U.S. – Fed Bostic Speech
  • 07:00 PM | U.S. – Fed Bowman Speech
  • 07:00 PM | U.S. – Initial Jobless Claims(Week ending Feb 14)

Fed Officials Divided on Rate Cuts

Federal Reserve officials appeared split during their January meeting, with many indicating that further interest rate cuts should be paused for now. According to the minutes released Wednesday, policymakers suggested that reductions could resume later this year only if inflation shows consistent and sustained improvement.

Some members also raised the possibility that rate hikes cannot be entirely ruled out. They recommended that the post-meeting statement reflect a more balanced, “two-sided” outlook on the Committee’s future interest rate decisions.

In considering the outlook for monetary policy, several participants noted that further reductions in the target range for the federal funds rate would likely be appropriate if inflation continues to decline in line with their expectations, ” the meeting summary stated.

However, policymakers remained divided over the future course of action, with discussions focused on whether the greater emphasis should be on controlling inflation or supporting the labour market.

Some participants indicated that it would likely be appropriate to keep the policy rate unchanged for a period while the Committee carefully evaluates incoming economic data, and a number of them believed that additional policy easing may not be justified until there is clear evidence that the disinflation process is firmly back on track, ” the minutes added.

The Federal Reserve lowered its benchmark borrowing rate by a total of three-quarters of a percentage point through consecutive cuts in September, October, and December. Following these moves, the key policy rate was brought down to a range of 3.5%–3.75%.

Dollar Rebounds as Fed Signals Caution

The dollar pulled back from recent lows on Thursday, extending a modest recovery after Federal Reserve meeting minutes suggested that policymakers are in no rush to cut interest rates. The minutes also showed that some officials remain open to the possibility of rate hikes if inflation proves persistent.

U.S. Treasury yields inched higher, while the dollar retained its overnight gains against the euro and the yen during early Asian trading, keeping the euro below the $1.18 mark.

U.S. Warns Iran Over Nuclear Talks

U.S. Vice President JD Vance said Iran did not address Washington’s key red lines during nuclear negotiations held in Geneva this week. He added that President Donald Trump retains the option of using military force if diplomatic efforts fail.

Sources told Axios that any potential U.S. military action against Iran would likely take the form of a full-scale conflict rather than limited, targeted strikes.

Satellite imagery suggests that Iran has recently built a concrete protective structure over a new facility at a sensitive military site and later covered it with soil. According to experts, the development indicates ongoing activity at a location that was reportedly targeted by Israel in 2024 amid heightened tensions with the United States.

Ukraine-Russia Talks End Without Breakthrough

Two days of peace negotiations between Ukraine and Russia in Geneva ended on Wednesday without a major breakthrough. President Volodymyr Zelenskiy voiced dissatisfaction with the outcome, while Washington characterized the discussions as having achieved “meaningful progress. ”

GOLD PRICE TODAY: EXPERT OPINION

Manoj Kumar Jain, Director Prithvi Finmart, a senior financial market expert, said:

“On Wednesday, gold and silver were settled on a positive note in the international markets. Gold April futures contracts were settled at $5,009.50 per troy ounce, up by 2.11%, and silver March futures contracts were settled at $77.598 per troy ounce, up by 5.52%.

Domestic markets were also settled on a positive note. Gold April futures contract settled at Rs1,55,761 per 10 grams with a gain of 2.87% and silver March futures contract settled at Rs2,44,268 per kilogram with a gain of 6.77%

Gold and silver prices recovered from lower levels after two sessions of steep sell-off after news reports that the US-Iran and Russia-Ukraine peace talks ended on Wednesday without any conclusion, and increased geopolitical risk once again. Safe-haven buying returned again in both precious metals.

However, the U.S. Fed rate cut uncertainty could limit gains of both precious metals. FOMC meeting minutes were released on Wednesday, and the majority of member advocates for a rate hold decision due to tariff-driven inflation, but two members say for quarter percentage cuts. Fed rate cut uncertainty and strength in the dollar index could limit gains of gold and silver.”

Manoj Kumar Jain View for Today (For Gold and Silver) | 19/02/2026

“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. 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 $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 ₹154400-₹152200 and resistance at ₹156800-₹159100, while silver is having support at ₹238000-₹232800 and resistance at ₹249000-₹254400. We suggest booking profits in long positions at higher levels and avoiding fresh buying until the opening of Chinese markets.’

Kedia Commodity View for Today (For Gold) | 19/02/2026

Technically, the marketshowsfresh buying interest, with open interest up 2.57%. Support isseen at ₹153,375 and ₹150,995, while resistance stands at ₹157,260; a move above thislevelcould target ₹158,765.”

Kedia Commodity View for Today (For Silver) | 19/02/2026

Technically, the market is witnessing shortcovering, with open interest down 1.15%. Support isseen at ₹235,790 and ₹227,315, while resistance stands at ₹249,070; a break above thislevelcould push pricestoward ₹253,875″

GOLD PRICE TODAY: FAQs

1. What are the gold and silver prices today on MCX?

At the opening bell, MCX gold April futures fell by nearly ₹650 (0.40%) to ₹1,55,116 per gram. MCX silver March futures declined by over ₹1,800 (0.75%) to ₹2,42,439 per kilogram.

2. How are international gold and silver prices performing?

Comex gold opened at 4,993.70 and climbed 4.30% to 5,013.80 by 11:26 IST. Comex silver opened at 77.145 and edged up 0.257% to 77.855 during the same period, reflecting relative strength in global markets.

3. What major events should investors watch today?

Key events include Fed Bostic’s speech at 06:50 PM IST, Fed Bowman’s speech at 07:00 PM IST, and U.S. Initial Jobless Claims data (week ending Feb 14) at 07:00 PM IST. These events could influence bullion price movements.

4. How is the Federal Reserve impacting gold and silver prices?

Fed officials remain divided on rate cuts, with most favoring a pause due to inflation concerns, while a few support a quarter-percentage cut. Rate uncertainty and a stronger dollar index may limit upside in gold and silver.

5. What are the key support and resistance levels for gold and silver?

According to expert views:

  • Comex Gold: Support at $4964–$4915; Resistance at $5055–$5122
  • Comex Silver: Support at $74.40–$72.00; Resistance at $80.00–$82.40
  • MCX Gold: Support at ₹154400–₹152200; Resistance at ₹156800–₹159100
  • MCX Silver: Support at ₹238000–₹232800; Resistance at ₹249000–₹254400

Experts advise booking profits at higher levels and avoiding aggressive fresh buying amid ongoing volatility.

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