Gold rates and silver rates at MCX are trading cautiously following the trend in international prices, as FOMC minutes hinted at a more hawkish stance in the upcoming monetary policies.
In the early trade, MCX gold reclaimed above Rs 1.56 lakh per 10 grams mark, while MCX silver is performing around Rs 2.44 lakh to Rs 2.46 lakh per 1Kg. Both the precious metals are marginally higher.
Meanwhile, spot gold slipped to struggle around $4,960 per ounce.
As per Trading Economics, the January meeting notes showed Federal Reserve officials were split, with some favoring a pause in further rate cuts for now, while easing could resume later in the year if inflation improves. Others raised the possibility of rate hikes and pushed for a post-meeting statement reflecting a two-sided outlook on future rates. As a result, traders pared expectations for multiple cuts.
Further, focus is now shifted towards key GDP and PCE data due later this week. Short-term demand for precious metals also eased with China's Lunar New Year, as liquidity thinned while investors remained largely absent. Meanwhile, geopolitical risks around Iran resurfaced, with reports suggesting any US military action could unfold as a weeks-long campaign after inconclusive talks.
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Feb 19, 2026, 2:51 pm IST
Forex Market Live: US Dollar Under Pressure
US dollar was under pressure against basket of currencies. The greenback traded around 97.7, pulling back from the previous session's gains which was fueled due to hawkish trajectory from US Fed due to stronger than expected data. As per Trading Economics, minutes from the Fed’s latest meeting showed policymakers were split on the path for US rates, suggesting that the next chairman could face challenges in implementing rate cuts. Several participants also favored language that would have explicitly left open the option of raising the federal funds rate should inflation remain above target.
Feb 19, 2026, 1:07 pm IST
Gold Rates In India Today Live: Check Gold Prices City-Wise
City
24K Today
22K Today
18K Today
Chennai
₹15,818
₹14,500
₹12,400
Mumbai
₹15,649
₹14,345
₹11,737
Delhi
₹15,664
₹14,360
₹11,752
Kolkata
₹15,649
₹14,345
₹11,737
Bangalore
₹15,649
₹14,345
₹11,737
Hyderabad
₹15,649
₹14,345
₹11,737
Kerala
₹15,649
₹14,345
₹11,737
Pune
₹15,649
₹14,345
₹11,737
Vadodara
₹15,654
₹14,350
₹11,742
Ahmedabad
₹15,654
₹14,350
₹11,742
Gold rates reclaimed above Rs 1.56 lakh mark and stood at Rs 1,56,490 per 10 grams in 24 carat which is 100% pure gold. This level is seen in cities like Mumbai, Bengaluru, Hyderabad, Kerala, Kolkata and Pune. But gold is expensive in cities like Delhi, Ahmedabad and Vadodara. However, gold saw its biggest jump in Chennai by Rs 2,940 in 10 grams and up by Rs 29,400 in 100 grams of 24 carat. In Chennai, gold has crossed Rs 1.58 lakh mark.
The trading in precious metals is impacted after FOMC minutes. As per Axis Securities, the minutes highlighted a divide among policymakers, with some participants open to rate cuts if disinflation continues, while others favoured maintaining or even tightening policy should inflation remain persistent. Meanwhile, Fed Governor Michael Barr signalled a preference for keeping rates on hold for the time being, whereas Chicago Fed President Austan Goolsbee indicated that rate cuts could be considered later if economic data support such a move
MCX silver futures with March 2026 expiry, touched an intraday high of Rs 2,46,214 per 1 Kg. At the time of writing, this precious metal is at Rs 2,44,901 per 1Kg, up by Rs 633 or 0.3%.
After trading narrow in the pre-market, MCX gold futures with April 2026 expiry, traded higher. At the time of writing, MCX gold is above Rs 1.56 lakh mark to trade at Rs 1,56,080 per 10 grams, up by Rs 319 or 0.20%. The metal is near its intraday high of Rs 1,56,357 per 10 grams.
Feb 19, 2026, 10:55 am IST
Silver Rates Today Live: Spot Silver Gains
While gold is volatile, spot silver saw mild upside. Spot silver traded currently at .805 per ounce, up by 0.3% after hitting an intraday high of .135 per ounce. As per Trading Economics, traders slightly trimmed expectations for Fed rate cuts this year but still anticipate two 25 basis point reductions before year-end. Silver and other precious metals were further supported by rising geopolitical tensions, as the US increased its military presence in the Middle East amid concerns of potential conflict with Iran, and peace talks between Ukraine and Russia concluded without a breakthrough.
Feb 19, 2026, 10:53 am IST
Gold Rates Today Live: Spot Gold Reclaims ,000 But Volatile
Spot gold traded volatile and in narrow range. The bullion touched an intraday high of ,011.91 per ounce but is struggling to maintain the ,000 mark. The trading on Thursday remained choppy after FOMC minutes. While majority of Fed officials agreed on pausing rates, some favoured rate cuts in the upcoming policies in 2026 if inflation improves. However, some Fed officials have raised concerns and possibility of rate hikes as inflation continues to remain elevated. The overall FOMC minutes was two-sided.