Gold & Silver Price Forecast (Feb 9, 2026): MCX Levels & India Strategy

Gold & Silver Price Forecast (Feb 9, 2026): MCX Levels & India Strategy

Monday, February 9, 2026 — The Indian bullion market opens the week on a strong footing. While global prices are driving the trend, domestic factors like the rupee exchange rate and wedding season demand are providing additional support for MCX Gold and Silver.

MCX Gold: The ₹70k Fortess

Gold prices on the MCX are consolidating near all-time highs, finding robust support at ₹69,500 per 10g.

1. Trend: The "buy on dips" strategy remains effective. The ₹65,000 level is now considered a "hard floor" unlikely to be breached.
2. Target: Technical charts suggest a move towards ₹76,000 in the coming weeks if global spot prices hold $2,300.

MCX Silver: The High-Beta Play

Silver continues to be the more volatile, high-reward bet. Trading near ₹82,000 per kg, it is benefiting from the global industrial demand narrative.

1. Support: ₹75,000 remains the critical accumulation zone for long-term investors.
2. Resistance: A weekly close above ₹92,000 could trigger a massive short-covering rally, potentially pushing prices to ₹1 Lakh/kg.

Investment Strategy for Feb 2026

For Indian investors, the strategy depends on your risk appetite:

1. Conservative: Continue SIPs in Sovereign Gold Bonds (SGB). The 2.5% interest + tax benefits make it unbeatable for long-term wealth preservation.
2. Aggressive: Look at Silver Mini Futures on MCX or Silver ETFs. The industrial demand from India's growing solar and electronics manufacturing sector acts as a domestic tailwind.

Tax Alert: Remember to factor in the 20% LTCG tax (with indexation benefits removed in some cases) when planning your exits. Use our ITR Category Finder to check your tax liability before booking profits.