Domestic bullion markets cooled off on Friday, driving gold prices under the 1.60 lakh threshold per 10 grams. Per IBJA, 24-carat gold declined 1,835 rupees to 1,58,751 rupees, from 1,60,586 rupees. Companion drops hit 22-carat at 1,45,416 rupees (off 1,47,097) and 18-carat at 1,19,063 rupees (from 1,20,440) per 10 grams.
Silver prices cratered 3,489 rupees to 2,60,723 rupees/kg, down from 2,64,212 rupees.
MCX futures held steady: April 2026 gold +0.05% to 1,59,757 rupees; May 2026 silver +0.30% to 2,62,990 rupees.
International markets perked up slightly, Comex gold +0.28% at 5,093 USD/oz, silver +0.58% at 82.62 USD/oz.
LKP Securities’ Jatin Trivedi analyzes: ‘Gold on MCX in 1,59,500-1,60,000 range, Comex ~5,100 USD. Anticipation builds for US jobs report – unemployment and NFP data pivotal.’ Support: 1,58,000 rupees; resistance: 1,62,000 rupees.
Profit-taking after a blistering rally, coupled with a firmer dollar, fueled the retreat. Yet, underlying supports from central bank buying and inflation hedges keep sentiment constructive. For Indian households, this translates to better affordability for auspicious buys. Track upcoming economic releases, as they could dictate the next leg up or further consolidation in precious metals.