Gold and silver markets turned bearish Thursday, delighting bargain hunters with steep price cuts across the board. Per IBJA, benchmark 24-carat gold fell Rs 986/10g to Rs 1,58,022 (prior Rs 1,59,008), 22-carat to Rs 1,44,748 (from Rs 1,45,651), and 18-carat to Rs 1,18,517 (ex-Rs 1,19,256).
Silver stole the show, plummeting Rs 4,750/kg to Rs 2,60,667 versus Rs 2,65,417 earlier. These updates from IBJA’s morning and evening bulletins capture the day’s momentum.
On MCX, gold futures for April 2026 declined 1.25% to Rs 1,59,133; silver March 2026 dropped 3.45% to Rs 2,59,048. Internationally, Comex gold eased 0.86% to $5,181/oz, silver sank 4.71% to $86.70/oz.
Blame goes to dollar strength and US-Iran de-escalation talks eroding haven demand. LKP Securities analyst Jatin Trivedi observed, ‘Investors are shunning gold as risks fade; watch Rs 1,58,000 support and Rs 1,64,000 resistance.’
This pullback may prove temporary in a bull market, urging savvy buyers to act. Upcoming demand drivers like Akshaya Tritiya could reverse the trend swiftly.