Gold and silver prices came under pressure early on Tuesday as WTI crude oil and the US dollar moved higher. WTI crude oil opened with a strong upside gap and touched an intraday high of USD 91.48 per barrel, gaining more than 6.5%. The US Dollar Index also rose by about 0.25% and stayed close to the 99 mark, putting pressure on precious metals.
COMEX gold opened with a downside gap and fell to an intraday low of USD 4,362.61 per ounce, losing more than 1% from the previous close. COMEX silver also opened lower and dropped to USD 66.953 per ounce, down over 2.5%.
On Monday, gold and silver had dropped sharply after US President Donald Trump signalled a possible easing of tensions in the Middle East. Later in the day, both metals recovered some losses.
In the domestic futures market on MCX, gold prices fell nearly 10% to below Rs 1,30,000 per 10 grams before recovering and trading around 4% lower. Silver futures dropped almost 12% and slipped below Rs 2,00,000 at the day’s low, before recovering to trade about 3% down.
Trump said he had asked the Department of Defence to delay any military strikes on Iranian power plants and energy infrastructure for five days, indicating a possible de-escalation in tensions.
Why gold and silver prices are falling
Gold and silver have erased most of their 2026 gains amid the Middle East conflict and global economic uncertainty. The sharp fall is mainly due to rising inflation worries and higher crude oil prices, which have weakened the global economic outlook.
A stronger US dollar and rising bond yields have also reduced the appeal of gold as a safe-haven asset, leading to selling in precious metals.
Institutional selling adds pressure
Analysts said the recent sell-off was largely driven by forced liquidation and cash-raising by institutional investors, especially from the Gulf region. During periods of uncertainty, investors often sell liquid assets like gold to raise cash instead of holding them for safety. This liquidity-driven selling has added further pressure on gold and silver prices in the global market.
Gold Rates City-Wise
The rates are as per 10 grams of gold.
- Mumbai: Rs 1,39,720
- Delhi: Rs 1,39,480
- Bengaluru: Rs 1,39,830
- Chennai: Rs 1,40,120
- Hyderabad: Rs 1,39,940
- Kolkata: Rs 1,39,530
Silver Rates City-Wise
The rates are as per 1 kg
- Mumbai: Rs 2,25,530
- Delhi: Rs 2,25,140
- Bengaluru: Rs 2,25,710
- Chennai: Rs 2,26,190
- Hyderabad: Rs
- Kolkata: Rs 2,25,230
Jaipur and Lucknow both recorded similar gold prices today, with 24K gold priced at ₹14,306 per gram, 22K gold at ₹13,115 per gram, and 18K gold at ₹10,734 per gram.
The rates are as per 10 grams of gold.
The rates are as per 1 kg
Bhubaneswar and Chennai both recorded updated gold prices today. In Chennai, 24K gold is priced at ₹14,191 per gram, 22K gold at ₹13,000 per gram, and 18K gold at ₹10,820 per gram. In Bhubaneswar, 24K gold is around ₹14,291 per gram, 22K gold is ₹13,100 per gram, and 18K gold is ₹10,719 per gram.
Mumbai and Kolkata both reported similar gold prices today. In Mumbai, 24K gold is priced at ₹14,291 per gram, 22K gold at ₹13,100 per gram, and 18K gold at ₹10,719 per gram. Likewise, in Kolkata, 24K gold is ₹14,291 per gram, 22K gold is ₹13,100 per gram, and 18K gold is ₹10,719 per gram.
Vadodara and Ahmedabad both recorded nearly similar gold prices today. In Vadodara, 24K gold is priced at ₹14,296 per gram, 22K gold at ₹13,105 per gram, and 18K gold at ₹10,724 per gram. Similarly, in Ahmedabad, 24K gold is also ₹14,296 per gram, 22K gold is ₹13,105 per gram, and 18K gold stands at ₹10,724 per gram.
Jaipur and Lucknow both recorded similar gold prices today, with 24K gold priced at ₹14,306 per gram, 22K gold at ₹13,115 per gram, and 18K gold at ₹10,734 per gram.
The silver rate in Chennai today is ₹2,500 for 10 grams, ₹25,000 for 100 grams, and ₹2,50,000 for 1 kilogram.
Silver prices in Mumbai and Delhi remain closely aligned, indicating consistent demand patterns across key bullion trading centers despite global price fluctuations.
Southern cities continue recording higher bullion rates compared to northern markets, highlighting stronger demand and regional pricing differences in India’s precious metals trade landscape.
Recent four-month low in spot gold triggered profit booking, but recovery signals possible short-term stability if geopolitical tensions ease and oil prices stabilize in coming sessions.
Jewellers and traders remain cautious as domestic demand slows, leading to limited buying activity and keeping gold and silver prices under pressure across major Indian cities.
Analysts attribute recent bullion fall to Middle East tensions pushing oil prices higher and increasing inflation fears, strengthening expectations of tighter global monetary policy stance.
Silver climbed 0.9 percent to $69.76 in international markets, reflecting recovery momentum despite ongoing pressure from weak domestic demand and volatile economic conditions.
Spot gold rises 0.8 percent to $4,441.01 per ounce in Singapore, supported by bargain buying after recent slump and cautious optimism in global bullion markets.
Kolkata gold at Rs 1,39,530 and silver at Rs 2,25,230 mirrors Mumbai and Delhi trends, showing uniform domestic pricing despite weak global demand signals.
Hyderabad gold at Rs 1,39,940 and silver at Rs 2,25,890 indicates steady retail demand despite volatility in global precious metals and cautious investor sentiment.
Bengaluru gold trades at Rs 1,39,830 while silver remains near Rs 2,25,710 as traders track international rebound after recent four-month low in spot gold.
Chennai records the highest gold price at Rs 1,40,120 and silver at Rs 2,26,190 per kg, reflecting strong demand and continued premium over northern markets.
Delhi gold stands at Rs 1,39,480 and silver at Rs 2,25,140 as investors closely watch Middle East tensions, inflation fears and possible hawkish monetary policy signals.
Mumbai gold holds at Rs 1,39,720 per 10 grams while silver trades near Rs 2,25,530 per kg amid subdued domestic demand and cautious global market trends.
In the domestic futures market on MCX, gold prices fell nearly 10% to below ₹1,30,000 per 10 grams before recovering and trading around 4% lower. Silver futures dropped almost 12% and slipped below ₹2,00,000 at the day’s low, before recovering to trade about 3% down.
On Monday, gold and silver had dropped sharply after US President Donald Trump signalled a possible easing of tensions in the Middle East. Later in the day, both metals recovered some losses.
The US Dollar Index staying close to the 99 level made gold and silver more expensive for global buyers. This reduced demand and led to selling in the precious metals market.
The sharp rise in crude oil prices reduced demand for safe-haven assets such as gold and silver. Higher oil prices usually increase inflation concerns and strengthen the US dollar, which puts pressure on precious metals.
Gold and silver prices came under pressure early on Tuesday as WTI crude oil and the US dollar moved higher. WTI crude oil opened with a strong upside gap and touched an intraday high of USD 91.48 per barrel, gaining more than 6.5%. The US Dollar Index also rose by about 0.25% and stayed close to the 99 mark, putting pressure on precious metals. COMEX gold opened with a downside gap and fell to an intraday low of USD 4,362.61 per ounce, losing more than 1% from the previous close. COMEX silver also opened lower and dropped to USD 66.953 per ounce, down over 2.5%.
