๐ Gold Market Update: Major Correction After All-Time Highs! ๐
The gold market is witnessing a significant shift! After hitting a breathtaking record high of โน1,78,850 per 10 grams in late January 2026, gold prices in India have seen a sharp correction, dropping more than 12% in just 10 days. ๐โจ
As of February 8th, prices have stabilized momentarily, with the market bracing for a volatile week ahead. Investors are closely watching the โน1.6 lakh threshold to see if the precious metal can regain its momentum. ๐ง๐
๐ฐ Current Price Snapshot (Per 10 Grams):
24K Gold: โน1,56,600 ๐ฅ
22K Gold: โน1,43,550 ๐ฅ
18K Gold: โน1,17,450 ๐ฅ
Silver (1 KG): โน2,85,000 ๐ฅ๐
๐ City-Wise Highlights:
While prices remained steady on Sunday, Chennai continues to see a slight premium compared to Mumbai, Bangalore, and Hyderabad. Interestingly, Chennai saw the biggest "crash" from its peak, falling nearly 14-15% since January 30th! ๐๏ธ๐ธ
๐ Whatโs Next? (Outlook Feb 9-13):
Volatility Ahead: Analysts predict MCX gold futures will trade between โน1.39 lakh and โน1.62 lakh this week. ๐
Global Triggers: Keep an eye on US economic data and the upcoming Iran-US talks in Oman, which are set to influence global sentiments. ๐ฎ๐ท๐บ๐ธ
Fed Factors: With Kevin Warsh nominated as the next Fed Chair, a "hawkish" stance could keep the dollar strong, putting further pressure on precious metals. ๐ฆ๐ต
Whether you're looking to buy the dip or waiting for further correction, this week is set to be a rollercoaster! ๐ข๐
#GoldPrice #SilverRate #InvestmentUpdate #MarketCorrection #FinancialNews
