Tezzbuzz Desk- Before Navratri, there has been a sharp fall in the prices of gold and silver. On September 28, gold was seen trading below Rs 1.50 lakh per 10 grams on MCX. Now investors and buyers are keeping an eye on how much further movement there can be in prices till Diwali.
A sharp fall was seen in the prices of gold and silver on Monday, 28 September 2026. In the domestic futures market, the price of gold fell below the level of Rs 1.50 lakh per 10 grams. In early trade, gold for delivery on October 5 was trading around Rs 1.48 lakh per 10 grams on MCX. At the same time, a decline of more than 2 percent was recorded in silver.
Many international reasons are being cited behind this decline in the market. Inflation concerns have increased due to rising crude oil prices. Apart from this, the impact of US bond yield and strengthening of dollar and expectations regarding interest rates of US Federal Reserve is also visible on gold and silver.
Gold fell below Rs 1.50 lakh
On MCX, gold for delivery on October 5, 2026 was at around Rs 1,48,168 per 10 grams in early trade on September 28. It also reached Rs 1,47,667 during trading. Its closing price in the last trading session was around Rs 1,50,700. Gold prices also showed weakness in the domestic market. In Delhi on September 28, the indicative price of 24 carat gold was said to be around Rs 1,48,000 per 10 grams, while that of 22 carat gold was around Rs 1,40,950 per 10 grams. These rates may be different from other charges including GST.
Sharp fall in silver also
Along with gold, there is also pressure on silver prices. On MCX, silver for delivery on December 4, 2026 was trading at around Rs 2,28,847 per kg in early trade, which was about 2.49 percent below the previous closing price. Even greater weakness was seen in silver during trading. According to reports, silver also fell below $62 an ounce in the international market. This increased pressure on prices in the domestic market also.
Why are the prices of gold and silver falling?
Many global signals are being said to be the reason behind the current weakness of gold and silver. The rise in crude oil prices has increased concerns about inflation. Along with this, the rise in US dollar and bond yields has also increased the pressure on non-interest bearing assets. The market is now keeping an eye on US economic data, oil prices, dollar and geopolitical developments.
Will gold become cheaper till Diwali?
In which direction the price of gold will go in the coming time, it will depend on many global factors. If the dollar and US bond yields remain strong and the stance on interest rates remains tight, the pressure on gold may continue. On the other hand, if geopolitical tensions increase or economic uncertainty returns, the demand for gold as a safe investment may increase again. According to commodity experts, it would not be appropriate to base the current decline alone while estimating prices till Diwali. Demand from the festive season, purchases by central banks, movement of the dollar, interest rates and international developments can lead to a rise or fall in prices. Therefore, it is difficult to consider any fixed level regarding the price of gold and silver till Diwali.
If you are preparing to buy gold, then it is important to keep in mind your budget, purchasing requirement and the prevailing market price. Also, while buying jewellery, try to include additional expenses like making charges, GST and purity in the total price.