The bullion market witnessed significant volatility on Friday, February 20, 2026. While retail gold prices saw a marginal dip of ₹30 per gram, the Multi Commodity Exchange (MCX) displayed a different story with prices surging upwards. Silver, in particular, has gained massive momentum, crossing the ₹2.44 lakh per kg mark as trading opened this Friday.

Current Rates (Feb 20, 2026): In the retail market, 22-carat gold is priced at ₹14,315 per gram, while 24-carat gold stands at ₹15,617. For 18-carat gold, the price is ₹11,713 per gram (plus GST). The market price for silver is currently hovering around ₹2.70 lakh per kg.

The MCX Rally: On the MCX, silver for March delivery opened at ₹244,802 per kg, marking an immediate jump of ₹3,409. In the last two trading sessions alone, silver has become dearer by ₹16,019. Gold is following a similar trend, with 24-carat (10g) prices rising by ₹567 today to reach ₹1,55,386.

Significant Dip from All-Time Highs: Despite the recent recovery, both metals are trading significantly below their record peaks. On January 29, silver had touched an astronomical high of ₹4.20 lakh per kg; today’s rate is nearly ₹1.75 lakh cheaper. Gold, too, remains approximately ₹37,710 lower than its all-time record of ₹193,096 per 10 grams. Experts attribute this fluctuation to global economic cues and shifting investor sentiments.