Gold Prices Rebound on Friday; Silver Shines as Safe-Haven Demand Strengthens
Gold prices moved higher in the domestic market on Friday, February 20, 2026, mirroring gains in global bullion amid rising geopolitical tensions and increased demand for safe-haven assets. Silver also recorded a notable uptick, extending the positive momentum in precious metals at the end of the trading week.
Gold Rates Rise Across Major Cities
According to the latest market data, the price of 24-carat gold in New Delhi climbed to ₹1,56,650 per 10 grams on Friday morning. The 22-carat variant was quoted at ₹1,43,610 per 10 grams in the national capital.
In Mumbai, the rate of 24-carat gold stood at ₹1,56,500 per 10 grams, while 22-carat gold was priced at ₹1,43,460 per 10 grams. Similar price levels were reported in Chennai and Kolkata, reflecting a broad-based rise across key metropolitan markets.
Bengaluru and Pune also witnessed firm trends, with 24-carat gold trading at ₹1,56,500 per 10 grams and 22-carat gold at ₹1,43,460 per 10 grams. Meanwhile, in Bhopal, the price of 24-carat gold was slightly higher at ₹1,56,550 per 10 grams.
What Is Driving the Rally?
Market experts attribute the latest jump in gold prices to strong global cues. Heightened tensions between the United States and Iran have pushed investors toward safer assets like gold. At the same time, renewed uncertainty after the failure of fresh talks between Russia and Ukraine has further supported bullion demand.
On Thursday, gold in the Delhi bullion market had already surged by ₹1,950, or about 1.24%, reflecting strong buying interest. Internationally, spot gold was hovering near $4,991.24 per ounce, indicating firm global sentiment.
City-wise Gold Price Snapshot
Here are the latest gold rates (per 10 grams):
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Delhi: ₹1,43,610 (22K) | ₹1,56,650 (24K)
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Mumbai: ₹1,43,460 (22K) | ₹1,56,500 (24K)
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Ahmedabad: ₹1,43,510 (22K) | ₹1,56,550 (24K)
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Chennai: ₹1,43,460 (22K) | ₹1,56,500 (24K)
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Kolkata: ₹1,43,460 (22K) | ₹1,56,500 (24K)
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Hyderabad: ₹1,43,460 (22K) | ₹1,56,500 (24K)
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Jaipur: ₹1,43,610 (22K) | ₹1,56,650 (24K)
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Bhopal: ₹1,43,510 (22K) | ₹1,56,550 (24K)
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Lucknow: ₹1,43,610 (22K) | ₹1,56,650 (24K)
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Chandigarh: ₹1,43,610 (22K) | ₹1,56,650 (24K)
Silver Prices Also Jump
Silver prices followed gold’s upward trend on February 20. The metal was quoted at ₹2,70,100 per kilogram in the domestic market during morning trade.
In the Delhi bullion market on Friday, silver had already surged sharply by ₹18,000, or 7.32%, to reach ₹2,64,000 per kilogram. In the international market, spot silver was trading around $77.97 per ounce.
Notably, silver had crossed the ₹4 lakh per kilogram mark in January, highlighting the metal’s strong volatility and investor interest in recent months.
Bullish Outlook for Gold
Investment bank JPMorgan has projected a strong long-term outlook for the yellow metal. The firm estimates that gold prices could climb to $6,300 per ounce by the end of 2026 if global uncertainties and safe-haven demand persist.
What Investors Should Watch
Analysts suggest that gold and silver may remain sensitive to geopolitical developments, US monetary policy signals, and global inflation trends. Any escalation in global tensions or economic uncertainty could further support precious metal prices in the near term.
For retail buyers, experts recommend tracking daily price movements and making purchases during minor dips rather than chasing sharp rallies.
Disclaimer: Precious metal prices are subject to market fluctuations and may vary by city and jeweler.
