New Delhi: On Friday, gold and silver prices experienced a sharp decline, with precious metals falling by up to 10 percent during the trading session.
On the Multi Commodity Exchange (MCX), at 2:16 PM, the April 2, 2026 gold contract dropped by 4.70 percent, settling at ₹1,75,307 per 10 grams.
Similarly, silver also saw a significant fall. The March 5, 2026 silver contract fell by 10.77 percent to ₹3,56,831 per kilogram.
Both futures and spot markets showed weakness in gold and silver prices.
According to rates released by the India Bullion Jewellers Association (IBJA) at 12 noon, 24-carat gold prices dropped by ₹6,865, reaching ₹1,68,475 per 10 grams from the earlier ₹1,75,340 per 10 grams.
Silver prices decreased by ₹22,825 to ₹3,57,163 per kilogram compared to the previous ₹3,79,988 per kilogram.
The decline in gold and silver prices is attributed to the fall in precious metal rates at the international level.
At the time of reporting, COMEX gold prices declined by 4.07 percent to $5,137 per ounce, while silver prices dropped by 9.28 percent to $103 per ounce.
Experts consider this sell-off as profit booking. Over the past year, gold has delivered returns exceeding 80 percent, and silver has given returns of 220 percent amid global instability and tariffs imposed by the US President.
Recently, a report from the World Gold Council indicated that the record surge in gold prices could lead to a decline in jewellery demand in India this year.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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