February 18 Gold Silver Crash: How Rs 8000 Silver Fall Impacts Wedding Jewellers
Gold and silver rates in India dipped further today amid ongoing global corrections. This blog dives into February 18, 2026, prices with an Indian lens, perfect for Lucknow investors eyeing Holi buys or portfolio hedges.
Recent Market Volatility
Gold fell Rs 153/g to Rs 15,491, while silver dropped Rs 8/g to Rs 260, per latest jeweller data. Platinum shed Rs 259/g to Rs 5,914, tracking weaker Comex and dollar strength. In India, February’s 25% silver plunge from Rs 3,50,000/kg highs reflects profit-booking post-January surges, impacting UP’s artisan markets. US Fed hints and rupee at 83.5/USD fueled this; expect stabilization if China demand rebounds.
Gold Prices: 24K, 22K, 18K
Rates per gram exclude GST/TCS; Chennai premiums persist from demand. Per 10g: 24K Rs 1,54,910 avg.
| City | 24K (Rs/g) | 22K (Rs/g) | 18K (Rs/g) |
| Chennai | 15,622 | 14,320 | 12,250 |
| Mumbai | 15,491 | 14,200 | 11,618 |
| Delhi | 15,506 | 14,215 | 11,633 |
| Kolkata | 15,491 | 14,200 | 11,618 |
| Bangalore | 15,491 | 14,200 | 11,618 |
| Hyderabad | 15,491 | 14,200 | 11,618 |
| Kerala | 15,491 | 14,200 | 11,618 |
| Pune | 15,491 | 14,200 | 11,618 |
| Lucknow* | ~15,500 | ~14,210 | ~11,630 |
*Estimated avg for Lucknow from similar northern cities. Hallmark for trust.
Silver Prices: Gram and Kg
Down Rs 8,000/kg nationally; Chennai/Hyderabad higher. Ideal for small UP investors.
| City | 1g (Rs) | 1kg (Rs) |
| Chennai | 265 | 2,65,000 |
| Mumbai | 260 | 2,60,000 |
| Delhi | 260 | 2,60,000 |
| Kolkata | 260 | 2,60,000 |
| Bangalore | 260 | 2,60,000 |
| Hyderabad | 265 | 2,65,000 |
| Kerala | 265 | 2,65,000 |
| Pune | 260 | 2,60,000 |
| Lucknow* | 260 | 2,60,000 |
Per 10g: Rs 2,600 avg. February’s fall offers stacking chance.
Copper Prices: Gram and Kg
Copper futures hover Rs 1,165-1,186/kg on MCX, key for India’s EV boom. Retail gram rates derived.
| Unit | National Avg (Rs) |
| 1g | 1.17 |
| 1kg | 1,165-1,186 |
Little city variance; Mumbai spot ~Rs 1,173/kg. Lucknow infra projects lift demand.
Platinum Prices: Gram and Kg
Uniform Rs 5,914/g across majors, down amid auto sector caution.
| City | 1g (Rs) | 1kg (Rs) |
| Chennai | 5,914 | 59,14,000 |
| Mumbai | 5,914 | 59,14,000 |
| Delhi | 5,914 | 59,14,000 |
| Kolkata | 5,914 | 59,14,000 |
| Bangalore | 5,914 | 59,14,000 |
Per 10g: Rs 59,140. Niche for modern Lucknow weddings.
City-Wise Snapshot
Northern cities like Delhi/Lucknow cluster at gold Rs 15,500+/g 24K; south premiums Chennai Rs 15,622. Silver steady north Rs 2,60,000/kg. Platinum/kg uniform. Copper industrial, not jeweller-traded much. Track via apps for real-time.
Indian Perspective: Why Now?
In Uttar Pradesh, gold’s inflation hedge shines amid 2026 polls buzz. Silver’s drop suits salaried stacking; buy 1kg lots. Platinum diversifies from yellow metal. Making charges 8-12% in Lucknow; sovereigns/GoldBees for purity.
Global-Indian Link
Rupee depreciation adds Rs 200-300/10g premium. WGC notes India’s 25% import share. Trump tariffs may support prices.
Investment Strategies
- Short-term: Silver dips for 10-15% bounce.
- Long-term: 24K bars, SIP via ETFs.
- Jewellery: 22K for Lucknow bazaars.
Consult RBI-approved dealers. Volatility favors disciplined buyers.
Future Outlook
Expect Rs 15,800/g gold rebound by March if Fed cuts. Silver to Rs 3,00,000/kg.
