Why did gold and silver crash in India today?

The selloff came from a stronger US dollar, sticky global yields, and higher COMEX margins that forced leveraged traders to cut positions. That pressure spilled into MCX, where thin liquidity exaggerated moves. Local markets then adjusted invoices, amplifying the impact on the gold rate today and silver price today across cities.

Is it a good time to buy gold jewelry now?

Buy in small tranches rather than all at once. Compare purity, making charges, and buyback policies, since store prices can lag futures. If you track the gold rate today, wait for spreads and premiums to stabilise, then lock invoices. Always keep receipts and prefer hallmark-certified pieces for better resale value.

How do COMEX margins affect MCX prices?

When COMEX margins rise, traders need more cash to hold positions. Leveraged players often reduce exposure, lowering global liquidity and sentiment. This can pull Indian futures down through arbitrage and risk controls. MCX participants then face margin calls and wider spreads, adding volatility to the gold rate today and silver price today.

What should traders do if volatility continues?

Cut leverage, trade smaller, and pre-fund accounts to handle mark-to-market. Use options to define risk, set wider but logical stops, and avoid trading every swing. Track US data, rupee moves, and exchange circulars. Let the plan dictate entries and exits, not emotion, and review performance after each session.

Global Market Insights

Gold & Silver Today, February 03: MCX Crash, COMEX Margin Hike

ByDanny Kontos February 3, 2026February 3, 2026

Gold rate today, February 3, turned volatile across India as MCX gold futures slipped over 7% intraday before rebounding, while silver hit a 15% lower circuit. Local markets mirrored the shock, with Jodhpur traders reporting silver down Rs 43,000 per kg and gold down Rs 6,650 per 10g. Reports point to a stronger dollar and higher COMEX margins forcing deleveraging. We break down what moved prices, how it impacts trades and invoices, and what investors should watch in gold rate today and silver price today.