Thursday brought cheers to gold and silver aficionados as prices cratered across Indian markets. Per India Bullion and Jewellers Association quotes, 24-carat gold plummeted ₹4,123 per 10 grams to ₹1,52,502, from an earlier ₹1,56,625. 22-carat followed at ₹1,39,692 (ex-₹1,44,873), and 18-carat at ₹1,14,377 (prior ₹1,18,619).
Silver’s decline was more pronounced, shedding ₹28,123/kg to reach ₹2,54,339 versus ₹2,82,462. Futures echoed the spot rout, with MCX April 2026 gold off 1.13% to ₹1,51,318 and March 2026 silver down 8.53% to ₹2,45,925.
Globally, gold traded at $4,887/oz after a 1.28% slip, while silver hit $78/oz, down 7.42%. Analyst Jatin Trivedi of LKP Securities highlighted intraday frailty, with Comex gold losing $100/oz and MCX around ₹1,000.
Trivedi forecasts investor attention on US labor data. ‘$5,000/oz marks resistance for gold; support lies at $4,700-$4,750/oz,’ he said, suggesting INR gold could hover near ₹1,48,000.
Retail buzz is palpable with festivals looming, driving showroom visits. Yet, experts stress monitoring international dollar strength and Fed signals. This sharp correction reaffirms the interplay of local demand and global finance in shaping bullion trends.