There has been a notable decline in gold and silver prices, with gold experiencing a fall of about 6,500 rupees on the Multi Commodity Exchange (MCX) as of late Thursday night. Similarly, silver prices also dropped significantly, declining by 26,000 rupees. The international market mirrored this trend, indicating a trend that could lead to further declines in the Indian commodity market on Friday.

On February 12, 2026, both gold and silver prices plummeted on a global scale, particularly in the US markets (COMEX/Spot) where gold fell approximately 2.3%–2.8%, reaching around $4,980–$4,940 per ounce. Silver faced an even steeper decline, dropping by nearly 8.8% to about $75–$76. This dramatic drop in international pricing points towards a broader market sentiment that’s heavily influenced by external economic indicators.

The primary factors driving this decline include robust US employment data, which contradicts prevailing expectations for interest rate cuts. As a consequence of the perceived economic strength in the US, investors globally have initiated a significant sell-off, adversely impacting gold and silver prices. The repercussions of this trend are anticipated to affect the Indian market significantly, potentially resulting in substantial losses for investors in these commodities.