Silver climbed about 6%, reclaiming levels near ?2.68 lakh per kg after recent volatility.
Gaurav Garg,
Research Analyst,
Lemonn Markets Desk.
Mumbai, 23 February 2026: Gold and silver prices extended their rally on 23 February 2026, with bullion catching fresh safe-haven demand amid rising global uncertainty. MCX gold surged nearly 2%, trading around Rs1.60 lakh per 10 g, while silver climbed about 6%, reclaiming levels near Rs2.68 lakh per kg after recent volatility.
The uptick was supported by weakness in the US dollar and elevated risk sentiment following trade policy developments and geopolitical jitters, strengthening demand for traditional hedges. Spot gold also reached multi-week highs on international markets, underscoring the broader bullish tone.
Despite recent sharp swings earlier in February, current price action suggests investors are responding to macro triggers rather than a structural shift in trend. Near term, metals may remain sensitive to global cues including currency movements and policy expectations. Volatility is likely to persist, and traders are advised to manage risk as bullion consolidates within its broader corrective phase.
