Gold Price Today Feb 28: MCX Gold Slips, Silver Rate Same In All Major Cities

New Delhi: By the last day of February 2026, gold came down slightly and silver remained almost stable. There was some profit booking in the market, but no major rise or fall was seen. Gold is still above Rs 16,000 per gram, while silver is hovering around Rs 28,500 per kg. At the end of the month both metals are well below January's peak, but gold maintained a slight lead, while silver is still showing the effects of heavy losses.

How was the spot price in Delhi?

On February 28, 24-carat gold closed at Rs 16,172 per gram in Delhi. 22 carat was Rs 14,825, and 18 carat was Rs 12,133. Silver stood at Rs 285 per gram i.e. Rs 285,000 per kg. These prices are without GST, TCS and making charges, which vary from jeweler to jeweler. Overall there was peace in the market, with no significant fluctuations.

What was the situation in MCX futures?

Same calm atmosphere in the derivatives market also. MCX Gold February 2026 contract was trading near Rs 161,720 per 10 grams, about Rs 110 lower than its previous close. The February contract of silver remained around Rs 279,000 per kg. There was some breathing room in both of them after the recent surge. Traders are waiting for the March series.

Why are gold prices the same in big cities?

Prices were similar in most big cities. In Mumbai, Delhi, Kolkata, Bengaluru, Hyderabad, Kerala and Pune, 24 carat is Rs 16,172, 22 carat is Rs 14,825, and 18 carat is Rs 12,133 per gram. There was a slight premium in Chennai—24 carat was estimated at Rs 16,302, 22 carat at Rs 14,950, and 18 carat at Rs 12,783. Ahmedabad is also up slightly – 16,177, 14,830 and 12,138. There was uniformity elsewhere, which suggests that there was stability in the entire country at the end of February.

What options are available on digital and physical platforms?

There are now many ways for people to buy gold and silver. Small purchases are made through MMTC-pumps on apps like Google Pay, PhonePe, and Paytm. You can buy digital gold or silver starting from Re 1 through services like Jar and Oropocket. Platforms like Tanishq, Cartlane, Kalyan Jewelers' Candere offer online bars, coins and jewelry. Companies like MMTC-Pump and Augmont sell bar coins of 999.9 purity. Gold ETFs, mutual funds and sovereign gold bonds are also available on broker apps like Zerodha, Groww, and Upstox.

How far has silver fallen from January's surge?

Silver did wonders in January. Starting from Rs 238,000 per kg at the beginning of the month, it reached a peak of Rs 410,000 on January 29, closing at Rs 350,000 at the end of the month – a rise of 47%! But there was a decline in February. It stood at 285,000 on February 28, which is about 30.5% below the January high and 18-19% less than 350,000 on February 1. Still quite low, but there has been some recovery in recent days.

Silver prices are same across cities

Mumbai, Delhi, Kolkata, Bengaluru, Hyderabad, Kerala, Pune, Ahmedabad—everywhere Rs 2,850 for 10 grams, Rs 285,000 for 1 kg. No premium is seen in Chennai either, all the same. Stability is clearly visible in the wholesale market.

What is the overall market mood?

February 28, 2026 Gold is holding on to some of its recent gains, with silver moving away from January's record but stabilizing. It looks like a break in the market—no new rise, no huge fall. Traders are now keeping an eye on what happens in March. Small investors are taking entry through digital means, while options for jewelers have also increased.