Gold prices witnessed a sharp intraday correction on Friday, drawing strong attention from investors and buyers across India. On the Multi Commodity Exchange of India (MCX), gold futures slipped to around ₹1.56 lakh per 10 grams during the session, triggering a surge in online searches and enquiries from retail investors and wedding-season buyers.
The sudden decline comes after gold prices traded near record highs in recent weeks, supported by global uncertainty and sustained safe-haven demand. The intraday fall prompted renewed interest from buyers who had stayed on the sidelines due to elevated prices, according to market participants tracking retail trends.
What Is Driving Attention to the Gold Price Correction
The gold price correction has gained attention as many buyers see the recent dip as a potential entry point ahead of the ongoing wedding season, a period that typically supports higher physical demand. Following the intraday decline, jewellers reported increased customer enquiries, particularly for jewellery purchases and smaller investment quantities.
From a market standpoint, analysts point to profit booking after the recent rally as a key factor behind the correction, along with movements in global gold prices and currency fluctuations. Shifts in bond yields and expectations around global interest rate policies also continue to influence short-term price trends in precious metals.
Market context and outlook
Despite the intraday decline, gold prices remain significantly higher compared to earlier this year, reflecting continued long-term demand for the metal as a hedge against inflation and economic uncertainty. Market participants caution that gold prices may remain volatile in the near term, tracking global cues and domestic demand trends.
Despite the intraday decline, gold prices remain significantly higher compared to earlier this year, underlining sustained long-term demand for the metal as a hedge against inflation and economic uncertainty. Central bank purchases, geopolitical developments, and ongoing global economic risks continue to support gold prices at elevated levels.
Market participants note that near-term volatility is likely to persist, with prices tracking global cues such as interest rate expectations, movements in the US dollar, and international bond yields. Domestic factors, including seasonal demand and currency fluctuations, are also expected to influence gold price trends in the coming sessions.
Wedding Season Demand Draws Buyers After Sharp Gold Price Dip
The recent correction in gold prices has drawn the attention of wedding-season buyers as rates eased from recent highs. The dip encouraged households to bring forward jewellery purchases that were earlier delayed. Jewellers reported higher enquiries and footfall, particularly for lightweight jewellery and small investment products, supporting renewed physical demand.
Jewellers saw an increase in store visits and customer enquiries after the intraday fall in gold prices, with demand focused on lightweight jewellery and small investment items. Seasonal factors, especially the ongoing wedding period, generally support higher physical buying, contributing to the renewed interest in the market.
Profit Booking and Global Cues Trigger Intraday Correction in Gold Prices
Market participants attributed the gold price correction to profit booking after the metal traded near record levels in recent sessions. Traders moved to lock in gains, resulting in a sharp intraday move on the Multi Commodity Exchange of India.
Global factors also contributed to the decline, including fluctuations in international gold prices, movements in major currencies, and changes in bond yields. Ongoing uncertainty around global interest rate policies continues to influence short-term price trends in precious metals, keeping market volatility elevated.
Gold’s intraday correction has renewed buying interest from retail investors and wedding-season buyers as prices eased from recent highs. While near-term volatility may persist due to global cues and profit booking, sustained long-term demand and seasonal factors continue to support gold prices, keeping the precious metal firmly in focus.
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Last Updated on: Tuesday, February 17, 2026 3:01 pm by The Weekly News Team | Published by: The Weekly News Team on Tuesday, February 17, 2026 3:01 pm | News Categories: Business
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