Investors rejoiced as gold and silver prices tumbled significantly in India on Thursday, creating an ideal moment to acquire these precious metals at bargain prices. The downturn saw gold shed approximately Rs 2,000 per 10 grams and silver lose up to Rs 7,200 per kilogram.
IBJA data reveals 24-carat gold closing at Rs 1,60,586 per 10 grams after a Rs 1,962 drop from Rs 1,62,548. Similarly, 22-carat gold declined to Rs 1,47,097 from Rs 1,48,894 per 10 grams, and 18-carat at Rs 1,20,440 down from Rs 1,21,911.
Silver’s plunge was more dramatic, falling Rs 7,135 per kilogram to Rs 2,64,212 from the prior Rs 2,71,347. This weakness extended to derivatives markets, where gold April 2026 futures declined 0.84% to Rs 1,60,165, and silver May 2026 futures dropped 0.94% to Rs 2,63,068.
Internationally, Comex gold eased 0.16% to $5,126/ounce, with silver down 0.61% at $82.68/ounce. LKP Securities’ Jatin Trivedi highlighted that Indian gold traded in a narrow band of Rs 1,60,000-1,63,000 per 10 grams, aligning with global levels near $5,150/ounce.
‘Traders are eyeing US data releases like unemployment rates and non-farm payrolls, which could sway sentiment,’ Trivedi added. The correction comes after recent highs, driven by safe-haven demand amid geopolitical tensions. Physical demand from jewelers remains steady, potentially cushioning further downside.
This price retreat could boost retail buying ahead of wedding and festival seasons. Yet, with Federal Reserve policies and economic reports looming, experts urge measured investments. The bullion market’s resilience will be tested in the coming sessions.