Gold, Silver Rates Today Highlights: MCX gold rate around ₹1.52 lakh, silver falls over 1% after US-Iran talks fail

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Gold prices dropped ₹602 to ₹1,52,050 per 10 grams in futures trade amid a fall in spot demand. On the Multi Commodity Exchange (MCX), gold contracts for the June delivery traded lower by ₹602, or 0.39%, at ₹1,52,050 per 10 grams in a business turnover of 1,491 lots.

Analysts attributed the fall in gold prices to weak global cues. Globally, gold futures declined by 0.40% to $4,730.59 per ounce in New York.

The recent decline in gold prices despite geopolitical tensions has highlighted how a strong US Dollar and higher real yields can outweigh its appeal as an inflation hedge. If interest rates remain elevated or rise further, non-yielding assets like gold may stay under pressure in the short term. However, persistent geopolitical risk and inflation uncertainty still support a longer-term case for holding exposure to precious metals. Investors globally could diversify, balancing commodities, energy equities, and inflation-protected assets rather than relying solely on gold as a defensive play, said Ross Maxwell, Global Strategy Operations Lead, VT Markets.

The gold-silver ratio rose in the past month, highlighting a clear outperformance of gold over silver amid rising global uncertainty. The ratio, which had fallen below 45 in January, climbed to around 62 in March and was hovering near 63.7 on April 13, reflecting a decisive shift in investor preference toward gold.

This marks a strong rebound from April 2025, when the ratio had spiked above 100 before dropping to sub-45 levels earlier this year. The recent rise signals that investors are once again favouring gold as a safer asset in a volatile macro environment.

Spot gold price has fallen more than 11% since the US-Iran war began in late February. While inflation and geopolitical risks typically boost gold’s appeal as a safe haven, elevated interest rates weigh on the non-yielding metal. A stronger dollar also makes greenback-priced bullion more expensive for holders of other currencies.

Aluminium prices on MCX climbed above ₹366.50, rising over 2% in line with global markets as LME prices touched around $3,540 per tonne, the highest since March 2022. Unlike other metals facing demand concerns, aluminium gained on supply disruptions after the Strait of Hormuz closure. The Gulf region, contributing about 9% of global output, has seen shipments impacted, with operations halted at Emirates Global Aluminium’s Al Taweelah plant. Tight supply conditions are further reflected in widening backwardation on the LME, indicating immediate market stress.

Elevated inflation expectations continue to complicate the outlook for Federal Reserve policy, reinforcing a higher-for-longer rate environment. As a result, gold remains caught between geopolitical support and macroeconomic headwinds, with price action driven by inflation trends, interest rate expectations, and ongoing developments in the Middle East conflict. Focus today will be on India CPI and US Existing home sales data, said Manav Modi, Commodities Analyst, Motilal Oswal Financial Services Ltd.

MCX gold rate was trading lower by ₹772, or 0.51%, at ₹1,51,880 per 10 grams level, while MCX silver price was down by ₹4,728, or 1.94%, at ₹2,38,546 per kg.

Silver rate today in Delhi: ₹2,383 for 10 gm, ₹23,834 for 100 gm, ₹2,38,340 for 1 kg

Silver rate today in Jaipur: ₹2,387 for 10 gm, ₹23,871 for 100 gm, ₹2,38,710 for 1 kg

Silver rate today in Mumbai: ₹2,388 for 10 gm, ₹23,875 for 100 gm, ₹2,38,750 for 1 kg

Silver rate today in Kolkata: ₹2,382 for 10 gm, ₹23,819 for 100 gm, ₹2,38,190 for 1 kg

Silver rate today in Chennai: ₹2,392 for 10 gm, ₹23,920 for 100 gm, ₹2,39,200 for 1 kg

Gold rate today in Delhi: ₹1,51,380 for 24 kt, ₹1,38,765 for 22 kt, ₹1,13,535 for 18 kt

Gold rate today in Jaipur: ₹1,51,620 for 24 kt, ₹1,38,985 for 22 kt, ₹1,13,715 for 18 kt

Gold rate today in Mumbai: ₹1,51,640 for 24 kt, ₹1,39,003 for 22 kt, ₹1,13,730 for 18 kt

Gold rate today in Kolkata: ₹1,51,450 for 24 kt, ₹1,38,829 for 22 kt, ₹1,13,588 for 18 kt

Gold rate today in Chennai: ₹1,52,090 for 24 kt, ₹1,39,416 for 22 kt, ₹1,14,068 for 18 kt

Comex silver price is trading below the $75 level, reflecting a weak undertone with price action lacking conviction despite limited support from industrial demand. Failure to reclaim $75 may keep selling pressure intact, while a decisive break below $72 could accelerate the decline toward $70 – $68. On the upside, a sustained move above $76 may help revive momentum and extend prices toward the $78 – $80 range, said Ponmudi R.

Comex gold price is trading within the $4,700 – $4,750 range, holding above key moving averages but with limited upside momentum and a cautious undertone. A break below $4,650 could accelerate selling toward $4,600 – $4,570 and further to $4,530 – $4,500. On the upside, a move above $4,750 – $4,770 may push prices toward $4,800 – $4,830, with potential extension to $4,900. Overall, the structure remains weak, with downside risks prevailing, while any recovery is likely to face resistance at higher levels, said Ponmudi R, CEO of Enrich Money.

MCX silver price is currently hovering above ₹2,38,000, with safe-haven demand and strength in industrial metals offering only limited support amid elevated volatility. Resistance is placed at ₹2,40,000, and any recovery toward this level is likely to face selling pressure. On the downside, a decisive break below ₹2,37,000 could accelerate selling toward the ₹2,35,000 – ₹2,33,000 range. While the overall tone remains cautious, with macro factors offering limited support, momentum appears weak and lacks conviction to sustain any meaningful recovery, said Ponmudi R, CEO of Enrich Money.

MCX gold price opened with a mild gap down and is trading within ₹1,51,500 - ₹1,52,000 range with limited buying interest at lower levels, though momentum remains gradual and unconfirmed. A sustained move above ₹1,54,000 could revive momentum toward ₹1,55,000. On the downside, a break below ₹1,51,000 may extend weakness toward ₹1,50,000 and further to ₹1,48,000. The bias remains slightly cautious, with macro factors offering limited support; however, momentum continues to lack conviction, and failure to hold key support levels could weaken the trend further, said Ponmudi R, CEO of Enrich Money.

US natural gas futures edged higher to $2.68 per MMBtu on Monday but remained near a seventeen-month low amid persistent supply overhang. The EIA reported a 50 Bcf storage injection for the week ended April 3, above the expected 46 Bcf and higher than the prior 36 Bcf build. Mild weather conditions are suppressing heating demand, allowing inventories to rise at an above-average pace. Despite escalating geopolitical tensions and risks to global energy flows, US gas prices remain insulated due to strong domestic production, ample storage, and limited exposure to international markets.

Silver prices declined nearly 3% to below $74 per ounce, reversing last week’s gains amid escalating geopolitical tensions. The US decision to blockade the Strait of Hormuz, effective from 10 a.m. Eastern Time followed unsuccessful negotiations with Iran in Pakistan. The disruption of this key shipping route has pushed energy prices sharply higher, intensifying inflation risks. This has strengthened expectations that central banks may delay rate cuts or even tighten policy. As a result, silver remains under pressure and is now down more than 20% since the conflict began.

The recent dip in bitcoin prices to the $70,000 zone, even as oil prices spike on renewed tensions around the Strait of Hormuz, highlights how global macro cues are once again influencing short-term crypto sentiment. The breakdown in negotiations at the Islamabad summit and concerns over supply disruptions have pushed energy markets higher while triggering a cautious pullback in digital assets, reflecting a temporary shift toward liquidity and macro-driven positioning.

At the same time, Bitcoin’s ability to hold near key levels despite these developments indicates underlying resilience, especially as it continues to find relevance in geopolitical narratives, including its emerging role in cross-border value movement amid sanctions and trade frictions, said Avinash Shekhar, Co-Founder & CEO, Pi42.

From an investor standpoint, this is a phase to stay measured rather than reactive. Sharp global developments may drive intermittent volatility, but they also reinforce Bitcoin’s evolving role as a parallel financial system. Investors should focus on staggered allocation strategies, maintain liquidity buffers, and avoid chasing short-term moves driven by headlines. The current environment rewards discipline, long-term conviction, and portfolio balance over speculative positioning, as crypto continues to mature alongside global financial and geopolitical shifts, he added.

MCX silver rate declined as much as by ₹6,084, or 2.5%, to ₹2,37,190 per kg. Silver price was trading lower by ₹4,739, or 1.95%, at ₹2,38,535 level.

MCX gold price fell as much as 0.78%, or by ₹1,195, to an intraday low of ₹1,51,457 per 10 grams. Gold rate was trading down 0.52% at ₹1,51,856 level.

MCX gold rate for June futures contracts opened lower by ₹1,105, or 0.72%, at ₹1,51,547 per 10 grams as against its previous close of ₹1,52,652 level. MCX silver price for May futures contracts opened lower by ₹4,912, or 2.01%, at ₹2,38,362 per kilogram as compared to its previous close of ₹2,43,274 level.