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Bullion shocker: Silver tumbles from Rs.3.86 lakh peak, gold sees sharp correction.
City-wise Gold & Silver Prices (Feb 11, 2026)
Prices are for 10 grams of gold and 1 kg of silver. Retail prices include local levies but exclude the 3% GST and making charges.
| City | 24K Gold (10g) | 22K Gold (10g) | Silver (1 kg) |
| Mumbai | ₹1,58,790 | ₹1,45,560 | ₹2,90,000 |
| Delhi | ₹1,58,940 | ₹1,45,710 | ₹2,90,000 |
| Chennai | ₹1,59,060 | ₹1,45,800 | ₹3,00,000 |
| Bengaluru | ₹1,58,900 | ₹1,45,670 | ₹2,90,000 |
| Kolkata | ₹1,58,790 | ₹1,45,560 | ₹2,90,000 |
| Hyderabad | ₹1,58,790 | ₹1,45,560 | ₹2,90,000 |
India’s bullion market is reeling from a historic correction as gold and silver prices tumble sharply after touching astronomical highs in late January 2026. What was once a blistering rally has now turned into a dramatic pullback, with investors witnessing one of the steepest short-term corrections in recent memory.
Silver has led the freefall, crashing by nearly ₹1.27 lakh to ₹1.28 lakh per kg in just 13 days. After scaling an all-time high of ₹3.86 lakh per kg on January 29, the metal has plunged to around ₹2.58 lakh per kg in the physical market as of February 11. The sharp drop reflects heavy profit-booking, global volatility, and cooling speculative momentum that had previously driven prices to unprecedented levels.
Gold has also retreated significantly from its peak. After soaring to ₹1.76 lakh per 10 grams in late January, 24K gold is now trading in the range of ₹1.56 lakh to ₹1.59 lakh across major cities — a decline of about ₹20,008 from its record high. While the correction is steep, prices remain elevated compared to long-term averages, indicating that the broader bullish undertone in precious metals has not entirely faded.
Market experts suggest the sudden slide signals a phase of stabilization after overheated buying, with traders closely watching global cues, currency movements, and interest rate expectations. For now, the glitter has dimmed — but the bullion battle is far from over.