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Gold and silver prices in India slipped after recent gains as global precious metal markets came under pressure. MCX gold fell by about ₹1,000 while silver dropped nearly 2%, tracking declines in COMEX gold and spot silver. The pullback comes amid profit booking, shifting US Federal Reserve rate expectations, and upcoming key economic data. Despite short-term volatility, analysts remain cautiously bullish on gold due to central bank buying, geopolitical tensions, and expectations of future rate cuts.
Gold and silver prices in India witnessed a sharp pullback after the previous session’s rally, as global precious metal markets came under selling pressure. Weak international cues, shifting interest rate expectations, and geopolitical developments triggered volatility in bullion prices across exchanges.
On the domestic front, MCX gold slipped by nearly ₹1,000, while silver prices dropped close to 2%, mirroring the trend in international markets.
Gold and Silver Price Movement: Key Highlights
| Indicator | Latest Trend | Key Level |
|---|---|---|
| MCX Gold | Down ~1% | Around ₹1.55 lakh per 100g |
| MCX Silver | Down ~2% | Below ₹2.7 lakh per kg |
| COMEX Gold | Down nearly 1% | Below $5,050/oz |
| Spot Silver | Down 2% | Around $82/oz |
The decline comes after a strong rally driven by safe-haven demand, but traders are now booking profits amid global uncertainty.
What Is Driving the Fall in Gold and Silver Prices?
1) Global Interest Rate Expectations
Markets expect two 25 basis-point rate cuts from the US Federal Reserve in 2026. While rate cuts are usually bullish for gold, short-term profit booking and economic data uncertainty have triggered volatility.
2) Weak International Precious Metal Trends
3) Key Economic Data Ahead
Investors are closely watching:
| Event | Impact on Gold |
|---|---|
| US Nonfarm Payrolls | Signals economic strength or slowdown |
| US CPI Inflation | Influences Fed rate decisions |
| India CPI Data | Impacts RBI policy outlook |
These indicators will shape the next move in global interest rates and bullion prices.
Safe-Haven Demand Still Strong
Despite short-term declines, long-term sentiment remains cautiously bullish due to:
China has reportedly extended its gold-buying streak for 15 consecutive months, signaling strong central bank demand.
Gold Prices Today in Major Indian States (Per 10 grams, 24K)
| State | Gold Price Today | Previous Price |
|---|---|---|
| Delhi | ₹78,400 | ₹79,200 |
| Maharashtra (Mumbai) | ₹78,250 | ₹79,050 |
| Karnataka (Bengaluru) | ₹78,300 | ₹79,100 |
| Tamil Nadu (Chennai) | ₹78,600 | ₹79,400 |
| West Bengal (Kolkata) | ₹78,350 | ₹79,150 |
| Telangana (Hyderabad) | ₹78,300 | ₹79,100 |
| Gujarat (Ahmedabad) | ₹78,200 | ₹79,000 |
| Rajasthan (Jaipur) | ₹78,450 | ₹79,250 |
| Uttar Pradesh (Lucknow) | ₹78,500 | ₹79,300 |
| Punjab (Chandigarh) | ₹78,550 | ₹79,350 |
| Kerala (Kochi) | ₹78,650 | ₹79,450 |
| Andhra Pradesh (Vijayawada) | ₹78,350 | ₹79,150 |
| Madhya Pradesh (Bhopal) | ₹78,300 | ₹79,100 |
| Bihar (Patna) | ₹78,500 | ₹79,300 |
| Odisha (Bhubaneswar) | ₹78,400 | ₹79,200 |
Silver Prices Today in Major Indian States (Per kg)
| State | Silver Price Today | Previous Price |
|---|---|---|
| Delhi | ₹92,500 | ₹94,200 |
| Maharashtra (Mumbai) | ₹92,300 | ₹94,000 |
| Karnataka (Bengaluru) | ₹92,350 | ₹94,050 |
| Tamil Nadu (Chennai) | ₹92,700 | ₹94,400 |
| West Bengal (Kolkata) | ₹92,450 | ₹94,150 |
| Telangana (Hyderabad) | ₹92,400 | ₹94,100 |
| Gujarat (Ahmedabad) | ₹92,200 | ₹93,900 |
| Rajasthan (Jaipur) | ₹92,550 | ₹94,250 |
| Uttar Pradesh (Lucknow) | ₹92,600 | ₹94,300 |
| Punjab (Chandigarh) | ₹92,650 | ₹94,350 |
| Kerala (Kochi) | ₹92,800 | ₹94,500 |
| Andhra Pradesh (Vijayawada) | ₹92,450 | ₹94,150 |
| Madhya Pradesh (Bhopal) | ₹92,350 | ₹94,050 |
| Bihar (Patna) | ₹92,600 | ₹94,300 |
| Odisha (Bhubaneswar) | ₹92,500 | ₹94,200 |
Gold Price Across Carats in India
| Purity | Price per 10g (Approx) |
|---|---|
| 24K Gold | ₹78,400 |
| 22K Gold | ₹71,900 |
| 18K Gold | ₹58,900 |
Short-Term vs Long-Term Outlook
Short-Term Outlook (1–4 weeks) Slightly Bearish
Long-Term Outlook (6–12 months) Bullish
Key Factors to Watch Next
| Factor | Why It Matters |
|---|---|
| US Fed rate decisions | Lower rates boost gold |
| Inflation data | Drives safe-haven demand |
| Geopolitical tensions | Increases gold buying |
| Central bank purchases | Long-term price support |
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