New Delhi, June 4: Gold and silver prices experienced a significant decline on Wednesday, with both precious metals dropping by more than ₹1,200 and ₹3,700, respectively.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold fell by ₹1,258 to ₹155,036 per 10 grams, down from ₹156,294 per 10 grams the previous day.
The price of 22-carat gold decreased to ₹142,013 per 10 grams from ₹143,165 per 10 grams. Meanwhile, 18-carat gold is now priced at ₹116,277 per 10 grams, down from ₹117,221 per 10 grams.
Silver also saw a price drop, with its rate falling by ₹3,725 to ₹261,575 per kilogram, down from ₹265,300 per kilogram.
As of the time of writing, the Multi Commodity Exchange (MCX) reported that the August 5, 2026 gold contract had decreased by 0.41% to ₹158,690, while the July 3, 2026 silver contract fell by 0.99% to ₹264,054.
International markets also reflected a decline in gold and silver prices. On COMEX, gold was down by 1.33% at $4,459 per ounce, and silver decreased by 2.62% to $73 per ounce.
Jatin Trivedi from LKP Securities noted that the session saw weakness in gold trading, attributed to the strengthening of the dollar and crude oil prices, which negatively impacted market sentiment.
He added that investors are now focusing on upcoming data from the U.S., such as unemployment figures and non-farm payrolls, which will influence the future direction of gold prices.
According to Trivedi, support for gold on the MCX is around ₹156,000, while resistance is expected near ₹161,500.
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