Five-Day Losing Streak Pushes Gold and Silver Prices Lower

Gold and silver prices extended their downward momentum on Friday, marking the fifth straight session of declines. Gold traded below Rs 1.42 lakh per 10 grams, while silver slipped under Rs 1.95 lakh per kilogram.

Data from the domestic bullion market indicated that 24-carat gold decreased by Rs 1,064 to Rs 1,41,630 per 10 grams, down from Rs 1,42,694. Earlier this week, gold stood at Rs 1,46,426 per 10 grams, a drop of about 2.5 percent over the period.

Rates for other gold purities also moved lower. The price of 22-carat gold fell from Rs 1,30,708 to Rs 1,29,733 per 10 grams, while 18-carat gold declined from Rs 1,07,021 to Rs 1,06,223 per 10 grams.

Silver registered a steeper fall of Rs 5,362, bringing its price to Rs 1,94,415 per kilogram from Rs 1,99,777 per kilogram.

Trading in futures followed a similar pattern. Gold for delivery on December 4, 2026 was quoted Rs 500, or 0.35 percent, lower at Rs 1,42,809 per 10 grams. Silver for the same delivery date was down Rs 3,993, or 2 percent, at Rs 1,95,606 per kilogram.

Market watchers said the gold correction shows no clear sign of ending. The metal has shed over 2.5 percent this week and is now near Rs 1,42,800 per 10 grams. Overseas, COMEX gold has also weakened toward the $4,000 level as rate hike expectations in the United States strengthen.

The bearish sentiment is being driven by the likelihood of higher interest rates and rising bond yields, which increase the opportunity cost of holding non-income-generating assets such as gold. Looking ahead, the Federal Reserve's policy decision next week is viewed as a critical event. Its stance on interest rates and forward guidance will likely determine the direction of gold prices in the coming period.