Gold and Silver Prices Drop: MCX Gold Down 1.5%, Silver Plunges 8.8% on Feb 5

• Gold prices on MCX fell by 1.44% to ₹1,50,849 per 10 grams, while silver dropped 8.8% to ₹2,45,192 per kg on February 5, 2026.
• In Mumbai, 24-carat gold was ₹1,54,430 per 10 grams, and 22-carat gold was ₹1,41,550 per 10 grams, excluding GST and making charges.
• Spot market silver prices also decreased to approximately ₹3,00,000 per kg.
• Gold prices are influenced by international rates, import duties, taxes, and exchange rate fluctuations.
• Experts advise cautious buying, recommending purchasing small amounts during price dips due to expected gradual decline and market volatility.