MCX Gold Down ₹1,000; Silver Slips 3%

Gold and silver prices moved lower on Monday as traders pressed pause after last week’s strong rally. The pullback comes even as the broader trend in precious metals remains firm, with global markets still reacting to inflation signals and currency movements.

Spot gold was trading near $5,033 per ounce in Asian hours, down slightly from Friday’s close. Spot Silver saw a steeper fall, hovering around $76.34 per ounce after giving up part of its recent gains. Both metals had rallied three days ago, on Friday, as softer US inflation numbers lifted sentiment.

Why Did Gold And Silver Prices Slip?

Monday’s decline largely reflects traders locking in profits after the sharp rise seen at the end of last week. When prices jump quickly in a short span, it is common for market participants to book gains once the new week begins.

The latest US inflation reading showed consumer prices rising at a slower pace than feared. That has fuelled hopes that interest rates in the US may not stay elevated for too long. Since gold and silver do not offer fixed returns like bonds, they usually benefit when rate expectations soften.

At the same time, the US dollar has steadied and global equity markets remain unsettled. Continuous geopolitical developments are also keeping traders alert, leading to back-and-forth movement rather than a clear one-way trend.

Gold, in particular, has been on a roller-coaster ride. It surged past $5,600 in late January amid heavy buying, then tumbled below $4,500 during a sharp correction earlier this month. Prices have since clawed back a good portion of those losses, showing that buyers continue to step in at lower levels.

How Are Gold And Silver Futures Performing On MCX?

On the Multi Commodity Exchange, gold futures for April 2026 delivery were down ₹1,000 at ₹1,54,905 per 10 grams on Monday morning. Silver futures for March 2026 delivery declined ₹8,265 to ₹2,36,100 per kg.

In global trade, gold is seen finding buying interest near the $5,010–$4,970 zone, while hurdles are placed around $5,080–$5,122. Silver is hovering within a broad band, with buying interest around $74–$72 and selling pressure closer to the low $80s.

On MCX, gold is seen around ₹1,54,400 to ₹1,53,150 on the downside. Higher levels near ₹1,56,800 to ₹1,58,200 may act as barriers. For silver, traders are tracking the ₹2,38,800 to ₹2,32,000 range as an important cushion, while upside supply may emerge between ₹2,49,100 and ₹2,55,000.

With price swings remaining wide, many participants are treading carefully. Gold often attracts buyers when it dips sharply, whereas silver tends to exaggerate moves on either side.

What Are The Latest Gold Rates In Major Indian Cities?

In the physical market, prices continue to stay elevated.

In Delhi, 22-carat gold is selling at ₹1,15,792 per 8 grams, while 24-carat gold is priced at ₹1,26,312 per 8 grams.

In Mumbai, 22-carat gold is at ₹1,15,672 per 8 grams and 24-carat gold at ₹1,26,192 per 8 grams.

In Chennai, 22-carat gold stands at ₹1,16,472 per 8 grams, while 24-carat gold is ₹1,27,064 per 8 grams.

In Hyderabad, 22-carat gold is priced at ₹1,15,672 per 8 grams and 24-carat at ₹1,26,192 per 8 grams.

For now, bullion markets appear to be catching their breath after last week’s surge, with traders watching global cues closely as the week unfolds.

Sources

Mint

Economic Times

Free Press Journal