A significant fall in gold and silver prices was recorded in the domestic market on Thursday on the occasion of Ram Navami. Following the tensions in the Middle East and the rise recorded on Wednesday, both gold and silver saw heavy losses on the MXN on Thursday. Gold price fell by 2.10 per cent or ₹3,064 to ₹1,39,800 per 10 grams, while silver fell by 5.25 per cent or ₹12,333 to trade at ₹2,21,714 per kg.
This sudden decline took many investors by surprise. In early trading of the day, gold for delivery in April 2026 was trading at ₹ 1,41,033 per 10 grams and silver for delivery in May 2026 was trading at ₹ 2,22,501 per kg. At the time of news update, gold fell by a total of ₹ 3,600 and silver by more than ₹ 15,000.
A similar trend was seen in the prices of gold and silver in major cities of the country also. In New Delhi, 24 carat gold is ₹ 1,41,070, 22 carat ₹ 1,29,314 and 18 carat ₹ 1,05,803 per 10 grams. Silver price is ₹2,20,510 per kg. In Mumbai, 24 carat gold was trading at ₹ 1,41,310, 22 carat ₹ 1,29,534 and 18 carat ₹ 1,05,983, silver was trading at ₹ 2,20,890 per kg. Prices are also at the same level in Patna, Jaipur, Kanpur, Lucknow, Bhopal, Indore, Chandigarh and Raipur cities.
According to Kedia Advisory Director Ajay Kedia, there is a possibility of further fall in gold and silver. Gold’s immediate support is at $4,000 an ounce. At this level, broken gold may fall to $3,450-$3,500 (₹1.15 lakh to ₹1.16 lakh per 10 grams in Indian currency). Silver, which has not been able to hold above $100, is currently taking support at $70, but it can also fall to $50-$53 (₹1.76 lakh per kg in Indian currency).
Strength in the dollar, inflation rising above 2.4% and expectations of interest rate hikes are putting pressure on gold and silver prices. If gold does not remain stable above the $5,100 per ounce level, the market may remain weak for the next 4-5 months, he said.
According to Ajay Kedia, in the current circumstances, investment in gold is a more safe option than silver. The gold-silver ratio, which was 43.50 in February 2026, has now reached 62 and is expected to reach 75.
Silver has fallen more than 50% from its peak, while gold has fallen only about 26%. Central banks around the world will purchase approximately 850 tonnes of bullion in 2026, keeping it as a safe haven asset.
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