Volatile Week for Gold Prices in India: Feb 15–22 Analysis
Gold prices in the Indian market, particularly in Chennai, witnessed sharp fluctuations between February 15 and February 22, 2026, reflecting global market cues, MCX movements, and shifting local demand patterns.
Daily Price Movements (Chennai – Per Gram)
Prices opened strong, declined mid-week, and rebounded sharply before stabilizing.
| Date | 24K (₹/g) | Change | 22K (₹/g) | Change |
| Feb 15 | 15,884 | – | 14,560 | – |
| Feb 16 | 15,753 | -131 | 14,440 | -120 |
| Feb 17 | 15,622 | -131 | 14,320 | -120 |
| Feb 18 | 15,524 | -98 | 14,230 | -90 |
| Feb 19 | 15,818 | +294 | 14,500 | +270 |
| Feb 20 | 15,731 | -87 | 14,420 | -80 |
| Feb 21 | 16,015 | +284 | 14,680 | +260 |
| Feb 22 | 16,015 | 0 | 14,680 | 0 |
Key Trends & Weekly Performance
The week began at ₹15,884 per gram for 24-karat gold on February 15. Prices steadily declined for three consecutive sessions, touching a weekly low of ₹15,524 on February 18 — marking a drop of nearly 2.3%.
However, sentiment reversed sharply on February 19 with a strong rebound of ₹294 per gram, supported by recovery in MCX futures and renewed buying interest. After minor corrections, gold surged again on February 21 and remained stable on February 22.
By the end of the week:
- 24K gold rose from ₹15,884 to ₹16,015 per gram (+0.8%)
- 22K gold increased from ₹14,560 to ₹14,680 per gram (+0.8%)
Despite volatility, the overall weekly trend remained positive.
Factors Behind the Volatility
Early Week Decline:
- Profit-booking after previous highs
- Temporary slowdown in retail demand
- Global price correction signals
Late Week Rebound:
- Strong recovery in MCX gold futures
- Safe-haven demand amid global uncertainties
- Fresh buying from jewellers and investors
Wedding season demand in South Indian markets including Chennai
Overall Market View
While short-term swings persisted through the week, the resilience shown toward the end indicates sustained investor confidence. Chennai continued to trade at a premium compared to some other cities, reflecting steady regional demand.
Overall, the week ended on a cautiously optimistic note for bullion investors.
