Gold Slips Rs 1,400; Silver Drops Below Rs 2 Lakh per Kg

Gold and silver rates tumbled on Thursday, with gold losing roughly Rs 1,400 and silver moving under the Rs 2 lakh per kilogram threshold.

The 24-carat gold rate fell Rs 1,411 to Rs 1,42,694 per 10 grams, from Rs 1,44,105 per 10 grams. Meanwhile, 22-carat gold slipped from Rs 1,32,000 per 10 grams to Rs 1,30,708 per 10 grams. The 18-carat variant eased to Rs 1,07,021 per 10 grams from Rs 1,08,079 per 10 grams.

Silver saw a sharp fall of Rs 7,006, settling at Rs 1,99,777 per kilogram. Its earlier price was Rs 2,06,783 per kilogram.

Futures trading showed the same direction. On MCX, the gold contract for December 4, 2026 declined Rs 1,459, or 1 percent, to Rs 1,44,620 per 10 grams. The silver contract for the same date dropped Rs 6,269, or 3 percent, to Rs 2,02,899 per kilogram.

Overseas markets were also under pressure. On COMEX, gold was 1.34 percent lower at $4,094 per ounce, while silver had fallen 3.44 percent to $55.73 per ounce by the time of reporting.

Market watchers said the bearish trend in gold continued. Domestic prices on MCX came close to Rs 1.44 lakh per 10 grams, and COMEX gold moved near $4,088 per ounce.

Geopolitical strain in West Asia, along with fears of rising interest rates in the United States, has weighed on sentiment. Investors are turning away from assets that do not offer any returns.

The next major trigger for the market will be the Federal Reserve's policy decision due next week. Its interest rate guidance and inflation outlook could have a direct bearing on the dollar and on precious metal prices.