Gold price today: Yellow metal slides Rs 4,300/10g, silver tanks Rs 13,700/kg as MCX reopens post Ram Navami break

Gold prices fell sharply by Rs 4,300/10 gram on Thursday after trading resumed today following a morning session closure due to the Shri Ram Navami holiday. Silver prices witnessed a sharper fall, slipping by Rs 13,700 per kg in the opening trade.

The April gold futures fell to the day's low of Rs 1,39,800 after closing Wednesday's session at Rs 1,44,097, while May silver futures hit the day's low of Rs 2,21,146 versus the Rs 2,34,834 close in the last session.

The domestic bullion prices fell on Thursday, taking cues from the international prices. The yellow metal traded at $4,421.70 an ounce on the COMEX at 07:21:26 AM CT (5:52 pm India time), down by $130.60 or 2.87%. Meanwhile, the white metal traded at $67.55 an ounce, lower by $5.08 or 7% around this time.


Domestic gold prices are down by Rs 52,000 from its peak of Rs 1,93,096, witnessing a 37% fall. As for silver, rates have halved (down Rs 2.2 lakh) from the life-time high of Rs 4,39,337.

Commenting on the current trends, Jateen Trivedi, Vice President, Research Analyst at LKP Securities, said gold has witnessed a sharp corrective decline after recent highs, breaking below key short-term supports and entering a volatile phase. The market is now reacting to mixed geopolitical signals—initial escalation between the US, Israel and Iran followed by unconfirmed de-escalation talks—creating sharp two-way moves, he said.

Trivedi said that its volatility against the US dollar amplifies moves in MCX gold and even minor global price shifts translate into sharper domestic swings, increasing intraday and weekly volatility.

Gold trading strategy

Gold is likely to remain highly volatile within this band as markets react to conflicting geopolitical updates and macro signals.

The expected trading range is Rs 1,37,500– Rs 1,42,500.

Selling pressure is expected in the range between Rs 1,42,000 and Rs 1,42,500.

Short covering or buying support is likely seen at Rs 1,37,500 – Rs 1,38,000.

He suggested traders adopt a range-bound trading approach rather than aggressive directional bets. Maintain strict risk management due to headline-driven volatility, he opined.