Gold prices witnessed a noticeable dip on the morning of February 27, bringing a temporary halt to the recent upward momentum in the bullion market. After days of steady gains, domestic rates softened amid weakness in global prices and profit-booking by traders.

Gold Rate Today: Fresh Decline in Domestic Market

In the national capital, the price of 24-carat gold fell to ₹1,61,820 per 10 grams. The 22-carat variant is currently priced at ₹1,48,340 per 10 grams. This marks a significant correction from the previous session, when gold in the local bullion market had already declined by ₹1,300, or nearly 1 percent, to ₹1,62,900 per 10 grams.

Market experts attribute the decline to a combination of softer international trends and investors booking profits after the recent surge. Fluctuations in global bullion prices often have a direct impact on domestic rates, as India relies heavily on imports to meet gold demand.

Internationally, spot gold is trading at $5,176.21 per ounce, reflecting mild weakness in global sentiment. Currency movements and expectations surrounding global economic indicators are also influencing investor behavior.

City-Wise Gold Prices on February 27

Here’s a look at the latest gold prices across major cities:

• Delhi: 22-carat gold at ₹1,48,340; 24-carat gold at ₹1,61,820 per 10 grams




• Mumbai: 22-carat gold at ₹1,47,590; 24-carat gold at ₹1,61,010 per 10 grams




• Ahmedabad: 22-carat gold at ₹1,48,240; 24-carat gold at ₹1,61,720 per 10 grams




• Chennai: 22-carat gold at ₹1,47,590; 24-carat gold at ₹1,61,010 per 10 grams




• Kolkata: 22-carat gold at ₹1,47,590; 24-carat gold at ₹1,61,010 per 10 grams




• Hyderabad: 22-carat gold at ₹1,47,590; 24-carat gold at ₹1,61,010 per 10 grams




• Jaipur: 22-carat gold at ₹1,48,340; 24-carat gold at ₹1,61,820 per 10 grams




• Bhopal: 22-carat gold at ₹1,48,240; 24-carat gold at ₹1,61,720 per 10 grams




• Lucknow: 22-carat gold at ₹1,48,340; 24-carat gold at ₹1,61,820 per 10 grams




• Chandigarh: 22-carat gold at ₹1,48,340; 24-carat gold at ₹1,61,820 per 10 grams

While price variations remain marginal across cities, local taxes, transportation costs, and demand conditions contribute to minor differences in retail rates.

JPMorgan Raises Long-Term Gold Forecast

Global financial institution JPMorgan Chase has revised its long-term outlook for gold prices, increasing its forecast to $4,500 per ounce. The bank has maintained its end-2026 projection at $6,300 per ounce.

According to the bank’s latest commentary, structural diversification trends continue to support gold’s long-term investment case. Central banks increasing gold reserves and investors seeking safe-haven assets amid global uncertainties are key drivers behind this bullish outlook.

Despite short-term volatility, analysts believe gold may continue to attract long-term investors looking for portfolio stability and inflation hedging.

Silver Prices Also Decline

Silver prices mirrored gold’s movement and recorded a drop on February 27. The domestic rate stands at ₹2,84,900 per kilogram in early trade.

In the previous session, silver in the bullion market had fallen sharply by ₹7,400, or nearly 3 percent, to ₹2,70,500 per kilogram. Internationally, spot silver is trading at $87.28 per ounce.

Interestingly, silver had crossed the ₹4 lakh per kilogram mark in January, highlighting the sharp volatility seen in precious metals over recent months.

What Investors Should Watch

The recent correction does not necessarily signal a reversal of the broader trend. Analysts suggest that gold prices remain sensitive to global economic developments, central bank policies, inflation data, and currency fluctuations.

Short-term traders may witness further volatility, especially amid global market movements. However, long-term investors often view dips as potential buying opportunities, particularly when supported by strong macroeconomic fundamentals.

As February draws to a close, bullion markets remain in focus, with both gold and silver responding to shifting global cues and investor sentiment. Market participants are advised to track international price trends and domestic demand before making investment decisions.