Gold & Silver Price In Mumbai Today: Yellow Metal Steady, White Metal Slips On Feb 6

Gold and silver prices in Mumbai showed a mixed trend on Friday, February 6, with gold largely steady after recent gains while silver remained under pressure, reflecting broader global cues and cautious investor sentiment.

As of 10:55 AM IST, 24-carat gold in Mumbai was priced at ₹15,072 per gram, translating to ₹150,720 for 10 grams, as per Bullions website. For larger quantities, the yellow metal was quoted at ₹1.50 crore per 100 grams and ₹1.51 crore per kilogram. In the retail jewellery segment, 22-carat gold-widely used for ornaments-was trading at ₹13,816 per gram, or ₹1,38,160 per 10 grams.

Lower-purity variants such as 18-carat gold stood at ₹11,304 per gram, catering largely to studded jewellery and contemporary designs.

Despite the strong headline prices, gold saw a marginal dip compared to the previous day. Data shows that 24-carat gold prices slipped by 0.96 per cent from Thursday's levels. However, the broader trend remains positive. On a weekly basis, gold has gained 0.76 per cent, while the one-month rise stands at a notable 9.01 per cent.

The longer-term picture is even more striking: gold prices in Mumbai have surged nearly 79 per cent over the past year, underlining the metal's appeal as a hedge amid persistent geopolitical uncertainty, inflation concerns, and volatile equity markets.

Market participants in Mumbai say buying interest remains selective at these elevated levels. While investment demand continues through coins and bars, jewellery purchases are cautious, with many buyers waiting for minor corrections before making big-ticket purchases. Jewellers also note that wedding-related demand is steady but not aggressive, as customers closely track daily price movements.

Silver, on the other hand, continued to lag gold. Fine silver (999 purity) was quoted at ₹237 per gram and ₹2,36,750 per kilogram in Mumbai. Sterling silver (925) was priced lower at ₹219 per gram, while 900 coin silver stood at ₹213 per gram. German silver (800 purity) was trading at ₹189 per gram.

Analysts attribute silver's recent weakness to profit-booking and fluctuating industrial demand expectations, even as gold continues to draw safe-haven flows. Global factors such as currency movements, interest rate outlooks, and geopolitical developments are expected to keep both metals volatile in the near term.