Gold and silver futures witnessed a sharp selloff on Thursday, February 5, 2026, as a strong U.S. dollar and renewed concerns over the U.S. Federal Reserve’s policy outlook weighed on global markets. Prices snapped a two-day recovery and fell steeply in both domestic and international trade.
In the international market, gold and silver futures mirrored the weak trend, declining by as much as 10% amid risk-off sentiment. Investors remained cautious as expectations of tighter monetary conditions boosted the dollar, making precious metals less attractive.
On the Multi Commodity Exchange (MCX), silver futures for March delivery plunged by ₹26,850, or 10%, to ₹2,42,000 per kilogram. In the previous session, silver had closed at ₹2,68,850 per kg. Gold futures also moved lower, tracking global cues. Market participants said volatility in global currencies and uncertainty over interest rate decisions are likely to keep precious metal prices under pressure in the near term.
