Gold Falls 1.6%, Silver Drops Over 5% In Indian Bullion Market

Gold and silver prices witnessed a sharp decline in the Indian bullion market on Friday. 24-carat gold slipped more than 1.6%, while silver prices plunged over 5.5% amid weak market sentiment and commodity pressure.

A similar trend was seen on the Multi Commodity Exchange (MCX), where both precious metals traded significantly lower in evening trade.

What happened

24-carat gold was trading at around ₹1,59,990 per 10 grams, down over 1.6%.

Silver prices fell nearly 5.6% to around ₹2,75,510 per kilogram.

On MCX, June gold contracts dropped to ₹1,59,355 per 10 grams.

July silver contracts were trading lower at approximately ₹2,75,174 per kilogram.

Why it matters

Gold and silver prices directly impact jewellery markets, investors, and commodity traders.

Sharp price movements often reflect global economic trends, dollar strength, and investor sentiment.

What changes

Buyers may see temporary relief in jewellery and bullion prices.

Commodity traders are likely to remain cautious amid ongoing volatility.

Who is affected

Jewellery buyers and retailers

Commodity market investors and traders

Bullion dealers across India

What to watch next:

Global market trends, US economic data, and whether precious metals continue to remain under pressure in the coming sessions.