Gold Prices Dip 0.64% as Fed Rate Cut Bets Firm, India Rates High

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AuthorVihaan Mehta|Published at:
Gold Prices Dip 0.64% as Fed Rate Cut Bets Firm, India Rates High
Overview

Gold prices in India saw a 0.64% decline on February 10, 2026, with 24K gold trading at ₹157,350 per 10 grams. This dip aligns with global trends influenced by reinforced expectations of US Federal Reserve rate cuts and a weaker dollar. Despite the fall, Indian gold prices remain significantly higher than those in Dubai.

Gold Slides as Fed Rate Cut Speculation Intensifies

Gold prices experienced a modest dip of 0.64% on February 10, 2026. The price for 10 grams of 24-carat gold settled at ₹157,350, a decrease of ₹1,010 from its previous close. Similarly, 22-carat gold fell by ₹925.80 to ₹144,238 per 10 grams.

Global Influences Drive Sideways Trend

The sideways movement in gold prices is largely attributed to reinforced expectations of rate cuts by the US Federal Reserve this year. Markets are currently pricing in two such reductions. A softening US dollar has also exerted downward pressure, as it makes gold less expensive for holders of other currencies, thereby stimulating demand. Lingering geopolitical tensions between the US and Iran are simultaneously bolstering gold's appeal as a safe-haven asset.

India vs. Dubai: A Persistent Price Gap

Notably, gold prices in India continue to trade at a premium compared to Dubai. On February 10, 2026, 24K gold in India was priced at ₹157,350 per 10 grams, while in Dubai it stood at ₹148,765, a difference of ₹8,585 or 5.77%. This price disparity, before accounting for duties and taxes, persists across 22K and 18K gold varieties as well.

Investor Outlook Amid Data Watch

Analysts predict gold prices may remain range-bound in the short term as investors await crucial US economic data. This data will offer clarity on the Federal Reserve's future policy decisions. Over the longer term, the outlook for gold remains bullish, supported by its trade near record high levels and ongoing geopolitical uncertainties. Retail investors are advised to monitor both domestic and international market dynamics before making investment decisions.

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