Mumbai, January 30, 2026: Gold and silver futures witnessed a sharp sell-off in early trade on Friday, with both precious metals trading deep in the red during the morning session. The decline was visible across intraday charts, with prices slipping below key reference levels amid sustained selling pressure.
Gold Futures Extend Losses
Gold futures for the February 5, 2026 expiry were trading at ₹1,61,791 per 10 grams around 09:10 IST, down ₹7,612 or 4.49 percent from the previous close of ₹1,69,403.The intraday chart showed a steep drop soon after the session began, followed by a brief attempt at stabilization before prices continued to trade at lower levels. The day’s trading range stood between ₹1,59,250 and ₹1,67,999, while the lifetime range for the contract remained wide at ₹98,169 to ₹1,80,779.
Average traded price for the session was reported at ₹1,62,312.44, with volume at 123 lots. Open interest stood at 4,165 lots, with a marginal decline of 61 lots, indicating some unwinding of positions alongside the price correction.
Market depth data reflected higher selling interest, with total ask quantity at 39 compared to total bid quantity of 23, suggesting continued pressure on near-term prices.
Silver Futures Underperform, Down Over 5 Percent
Silver futures saw an even sharper decline in percentage terms. The March 5, 2026 contract was trading at ₹3,79,272 per kg around 09:11 IST, down ₹20,621 or 5.16 percent from the previous close of ₹3,99,893.Intraday movement showed persistent weakness through the early minutes of trade, with prices unable to reclaim higher levels after the initial fall. The day’s range was recorded between ₹3,75,900 and ₹3,89,986, while the lifetime range stood at ₹1,09,741 to ₹4,20,048.
The average price for the session was ₹3,80,297.80, with traded volume at 688 lots. Open interest declined by 72 lots to 8,726 lots, indicating position trimming amid the sharp fall.
Market Snapshot
| Commodity | Contract | Last Price | Change | % Change |
|---|---|---|---|---|
| Gold | Feb 2026 | ₹1,61,791 / 10g | -₹7,612 | -4.49% |
| Silver | Mar 2026 | ₹3,79,272 / kg | -₹20,621 | -5.16% |
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