Gold and Silver Prices Today: Gold has always held a special place in our hearts be it as jewellery passed down through generations or a secure investment we lean on in uncertain times. But today, as the world walks a tightrope of economic uncertainties and geopolitical tensions, the price of gold is showing signs of intense volatility that’s hard to ignore.

Sharp Fall in Gold and Silver Prices on April 6

On April 6, gold prices on the Multi Commodity Exchange (MCX) opened at ₹88,130 per 10 grams, a sharp drop from earlier highs of ₹90,057. That’s more than a 2 per cent decline in just a matter of days. Similarly, silver, too, is feeling the heat, with its MCX price standing at ₹92,403 per kilogram. This isn’t just a minor fluctuation; it’s a clear signal that global and domestic factors are pulling precious metals in conflicting directions.

Global Spot Gold Prices Also Drop Amid Tariff News

Globally, gold prices have also tumbled, with the spot price falling by 2.4 per cent to reach $3,041.11 per ounce. Investors around the world had already been cautious due to murmurs of a trade war, but the recent confirmation of US tariffs has pushed many to book profits. This rush to cash out has only added to the downward pressure on gold prices.

Indian Retail Gold Rates Struggling to Hold Ground

Meanwhile, the Indian Bullion and Jewellers Association (IBJA) listed the retail selling rate for 24-karat fine gold at ₹91,010 per 10 grams on April 4, while 22-karat gold stood at ₹88,830. But sustaining above these levels is proving difficult. Experts say if the price dips below ₹88,800, we could soon be looking at gold costing ₹87,000 or even ₹84,000 per 10 grams in the near future.

Why Demand for Gold as a Safe-Haven Asset Is Falling

There’s more to this story than just numbers. The recent easing of tensions in global conflict zones like Russia- Ukraine and the Middle East has reduced the demand for gold as a “safe haven” asset. When there’s less fear, there’s less rush to buy gold and that means lower prices. At the same time, the US job market is booming again, making it clear that the Federal Reserve won’t be cutting interest rates anytime soon. This further dampens the appeal of non-yielding assets like gold.

Technical Indicators Point Toward Further Correction

From a technical standpoint, Comex gold is struggling to break past the resistance range of $3,120–$3,130 per ounce. If it falls below $3,050, we could see a deeper correction globally, which will eventually reflect in Indian markets as well.

HSBC Raises Gold Price Forecast for 2025 and 2026

However, it’s not all gloomy. HSBC has raised its gold price forecast for 2025 and 2026, now expecting prices to average $3,015 and $2,915 per ounce, respectively. The bank attributes this optimistic outlook to ongoing geopolitical risks and economic instability. Central banks across the globe are also expected to continue buying gold, albeit at a slower pace compared to peak levels seen in recent years.

What This Means for Gold Buyers and Investors in India

So what does all this mean for you? If you’re planning to buy or sell gold, staying informed and alert is essential. The road ahead might be bumpy, but understanding these market signals can help you make better investment decisions.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult with a professional financial advisor before making any investment decisions.

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