Precious metal prices are expected to remain volatile and witness further consolidation in the coming week as investors track key US economic indicators, including inflation data, GDP readings and signals from the Federal Reserve, analysts said.Traders are also likely to monitor US labour market data, the minutes of the Federal Open Market Committee (FOMC) meeting and speeches from Fed officials for clarity on the timing and pace of potential rate cuts, as per news agency PTI.

Volatility to persist on US GDP, PCE data

Pranav Mer, vice president, EBG – commodity & currency research at JM Financial Services Ltd, said gold and silver prices may continue to witness consolidative moves, though volatility is expected to persist.“Gold and silver prices may continue to see more consolidative moves but volatility will prevail with focus on incoming US data on GDP and the Personal Consumption Expenditures (PCE) inflation numbers and Federal Reserve official’s commentary,” he said, as per PTI.On the domestic front, silver futures on the Multi Commodity Exchange (MCX) declined Rs 5,532, or 2.2 per cent, over the past week, while gold rose Rs 444, or 0.3 per cent.

Gold corrects sharply in February

Prathamesh Mallya, DVP – research, non-agri commodities and currencies at Angel One, said gold prices have corrected in February.“Gold prices have fallen in February 2026, with prices correcting from highs of Rs 1,80,000 per 10 grams to around Rs 1,53,800 per 10 grams as on February 13,” he said, as per PTI.He attributed the weakness to stronger-than-expected US employment data, which has reduced expectations of near-term rate cuts and weighed on gold prices in the past week.“However, the yellow metal’s safe haven appeal remains intact on account of geopolitical tensions, and strong buying ahead of the Lunar New Year. It’s a tug of war between bears and bulls this week, and the volatility will continue in the week ahead,” Mallya added.

International trends and market drivers

In the international market, Comex gold futures gained $84, or 1.7 per cent, during the week, while silver edged up marginally to close at $77.27 per ounce.Mer said gold prices moved between gains and losses through most of the trading sessions but managed to end the week higher.“Gold prices see-sawed between gains and losses for most part of the trading session, but managed to close the week in positive and above $5,000 per ounce in the overseas market.“The bullions are passing through a phase of consolidation amid a lack of clarity among traders as they remain divided over the price direction and look for fresh fundamental triggers,” he said.Analysts noted that central bank buying, safe-haven demand amid a sharp sell-off in global technology and AI stocks, and a softer dollar index provided support to bullion prices.However, mixed physical demand from India and China, profit-booking by ETF investors and strong US macroeconomic data capped the upside.Mer said silver also experienced two-way price movements during the week.“The white metal was weighed by corrections in industrial metals and profit-booking after failing to breach key technical resistance. It also faced pressure from the tech-led global equity sell-off, which reduced risk appetite across asset classes,” he added.Analysts said both gold and silver are likely to remain range-bound in the near term as investors await clearer signals on the Federal Reserve’s monetary policy trajectory and broader global economic trends.

Last Updated:February 15, 2026, 16:54 IST

Foreign Portfolio Investors put Rs 19,675 crore into Indian equities in early February, ending three months of selling amid global cues and a US-India trade pact.

US-India trade deal hopes lift FPI inflows to Rs 19,675 cr in early Feb

Foreign Portfolio Investors Reverse Trend With Rs 19,675 Crore February Buying: Foreign Portfolio Investors (FPIs) made a notable comeback in early February, infusing Rs 19,675 crore into Indian equities during the first half of the month, aided by improving global conditions and the US-India trade agreement.

This marks a clear shift after three consecutive months of net selling. Depository data shows FPIs withdrew Rs 35,962 crore in January, Rs 22,611 crore in December, and Rs 3,765 crore in November.

Even with the renewed buying in February, the broader trend for 2025 remains negative. So far this year, foreign investors have pulled out a net Rs 1.66 lakh crore (USD 18.9 billion) from Indian equities, making it one of the weakest periods for overseas inflows in recent times. Currency volatility, global trade tensions, concerns over potential US tariffs, and elevated valuations had weighed heavily on flows earlier.

Global Cues And Domestic Stability Support Recovery

Himanshu Srivastava, Principal Manager–Research at Morningstar Investment Research India, as quoted by PTI, said the latest inflows were largely driven by easing global macro pressures. Softer US inflation data improved expectations around the interest rate cycle, helping stabilise bond yields and the US dollar. This, in turn, enhanced investor appetite for emerging markets such as India.

On the domestic front, stable inflation, resilient macro indicators, and corporate earnings largely in line with expectations strengthened confidence in India’s economic trajectory, he noted.

Vaqarjaved Khan, Senior Fundamental Analyst at Angel One, also attributed the renewed interest to the US-India trade pact, the growth-oriented Union Budget 2026, easing global trade uncertainties, and steady domestic interest rates.

Volatility Persists Despite Net Buying Days

FPIs were net buyers in seven out of eleven trading sessions in February up to the 13th, turning sellers on four occasions. However, cumulative data indicates a net equity outflow of ₹1,374 crore so far this month.

The divergence was largely due to a sharp sell-off of Rs 7,395 crore on February 13, when the Nifty dropped 336 points. The period also witnessed substantial selling in IT stocks amid the so-called “Anthropic shock.” VK Vijayakumar, Chief Investment Strategist at Geojit Investments, said as quoted by PTI, foreign investors likely reduced exposure to IT stocks aggressively in the cash market, as the IT index fell 8.2 percent in the week ended February 13.

(With PTI Inputs)

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Macroeconomic data, global geopolitical developments and rising concerns over AI-related disruptions are likely to dictate stock market sentiment in the coming week, analysts said, even as investors remain cautious amid persistent volatility.Trading activity of foreign investors and movements in the domestic currency are also expected to influence market direction.

Focus on US data, fed outlook and AI risks

“In the near term, with tariff-related concerns easing and the domestic earnings season drawing to a close on a mixed trend, market focus will hinge largely on global cues, including the US labour data and shifting expectations surrounding the US Fed’s policy path”, Vinod Nair, head of research at Geojit Investments Ltd, said, as quoted by news agency PTI.“However, the overall sentiment is likely to remain cautious as investors monitor global AI-driven disruptions and geopolitical risks, while improved valuations and constructive GDP forecasts may help sustain FII inflows”, Nair added.He added that with IT and metals facing persistent structural and external headwinds, market leadership may rotate towards domestically oriented sectors such as banking, automobiles and select consumption-driven segments. However, broader indices are expected to remain range-bound until clearer macroeconomic and policy signals emerge.Analysts said investors will also watch the minutes of the Federal Open Market Committee (FOMC), scheduled for release on Thursday, for cues on the US Federal Reserve’s monetary policy outlook.

Inflation, PMI and external data in spotlight

Ajit Mishra, SVP, research at Religare Broking Ltd, said markets will track wholesale price index (WPI) inflation and balance of trade data for signals on price trends and external sector dynamics.“High-frequency indicators due include HSBC flash PMI readings for manufacturing, services, and composite, along with bank loan growth and foreign exchange reserves data.“These releases will be evaluated for confirmation of growth momentum amid volatile global cues and continued repricing in technology stocks,” he said, as per PTI.Strong US jobs data has already reduced expectations of near-term Federal Reserve rate cuts, pressuring global risk assets and contributing to domestic market weakness, Mishra added.

Benchmarks end lower amid tech selloff

On a weekly basis, the 30-share BSE Sensex slumped 953.64 points, or 1.14 per cent, while the NSE Nifty dropped 222.6 points, or 0.86 per cent.Both indices ended the week on a negative note as a global selloff in technology stocks and concerns over artificial intelligence-led disruptions weighed on sentiment.On Friday alone, the Sensex tumbled 1,048.16 points to close at 82,626.76, while the Nifty plunged 336.10 points to settle at 25,471.10 amid a broad-based selloff, particularly in metal, IT and commodity stocks.“The Nifty IT index touched a 10-month low during the session before closing 1.4 per cent lower… The sector continues to face headwinds amid rising concerns that rapid AI advancements could disrupt traditional service models and weigh on future revenue visibility,” Siddhartha Khemka of Motilal Oswal Financial Services Ltd said, as per PTI.Metal stocks also saw profit-booking amid a stronger dollar index and reports that Russia may consider re-entering the US-dollar settlement system, raising concerns over weaker realisations for metal companies, Nair said.The broader market remained under pressure, with the BSE SmallCap Select Index falling 1.90 per cent and the MidCap Select Index slipping 1.19 per cent.

Rupee, FII flows and global markets

The rupee consolidated in a narrow range and settled 5 paise lower at 90.66 against the US dollar on Friday.Foreign institutional investors bought equities worth Rs 108.42 crore on Thursday, while domestic institutional investors were also net buyers of Rs 276.85 crore, according to exchange data.Analysts noted that while the previous week saw support from favourable developments in the India-US trade deal and renewed FII inflows, sentiment turned cautious following escalating concerns over AI-led disruptions and a global technology selloff.Geopolitical tensions and continued repricing in technology stocks have increased sectoral volatility, prompting widespread selling pressure.Market experts said broader indices are likely to stay range-bound until clearer macroeconomic signals and policy clarity emerge, with global cues continuing to dominate investor sentiment in the near term.