Gold down 5.6%, silver 10.8% in a month: Should you buy the dip or wait? Experts answer

Even though there was a spike in the gold spot price over the last couple of days, on Friday, June 3, 3036, the price on the Multi Commodity Exchange of India (MCX) dropped by 5.65% compared to June 3, 2026, going from Rs 1,54,529/10g down to Rs 1,45,789/10g. During the same period, the MCX silver spot rate fell by 10.78%, from Rs 2,61,939/kg on June 3 down to Rs 2,33,701 on July 3.

The MCX data for the past month (23 sessions in total), shows that gold prices fell 13 times, rose 9 times and were unchanged on one occasion. Silver prices, meanwhile, dropped 14 times, rose 8 times, and remained unchanged once.

With gold and silver prices significantly lower this month, is it a good time for investors to buy on a dip? Should existing investors hold on to their gold and silver investments and consider accumulating more while prices are low?


Gold spot price on MCX since June 3 (Showing daily price fluctuations and total change)

Date	Spot Price (₹/10g)	Change (₹)
03-Jun-26	1,54,529	—
04-Jun-26	1,55,392	863
05-Jun-26	1,53,959	-1,433
08-Jun-26	1,50,235	-3,724
09-Jun-26	1,51,747	1,512
10-Jun-26	1,46,695	-5,052
11-Jun-26	1,44,730	-1,965
12-Jun-26	1,47,367	2,637
15-Jun-26	1,50,133	2,766
16-Jun-26	1,50,192	59
17-Jun-26	1,49,738	-454
18-Jun-26	1,47,677	-2,061
19-Jun-26	1,44,606	-3,071
22-Jun-26	1,46,740	2,134
23-Jun-26	1,44,323	-2,417
24-Jun-26	1,42,512	-1,811
25-Jun-26	1,39,843	-2,669
26-Jun-26	1,39,843	0
29-Jun-26	1,41,068	1,225
30-Jun-26	1,40,864	-204
01-Jul-26	1,40,269	-595
02-Jul-26	1,42,464	2,195
03-Jul-26	1,45,789	3,325
Total Change (03 Jun → 03 Jul)		-8,740

Silver spot price on MCX since June 3 (Showing daily price fluctuations and total change)

Date	Spot Price (₹/kg)	Change (₹)
03-Jun-26	2,61,939	—
04-Jun-26	2,60,255	-1,684
05-Jun-26	2,57,129	-3,126
08-Jun-26	2,41,617	-15,512
09-Jun-26	2,45,657	4,040
10-Jun-26	2,33,648	-12,009
11-Jun-26	2,33,231	-417
12-Jun-26	2,41,306	8,075
15-Jun-26	2,51,327	10,021
16-Jun-26	2,49,333	-1,994
17-Jun-26	2,47,576	-1,757
18-Jun-26	2,41,330	-6,246
19-Jun-26	2,31,829	-9,501
22-Jun-26	2,37,793	5,964
23-Jun-26	2,27,482	-10,311
24-Jun-26	2,23,754	-3,728
25-Jun-26	2,18,680	-5,074
26-Jun-26	2,18,680	0
29-Jun-26	2,19,348	668
30-Jun-26	2,25,125	5,777
01-Jul-26	2,23,537	-1,588
02-Jul-26	2,28,597	5,060
03-Jul-26	2,33,701	5,104
Total Change (03 Jun → 03 Jul)		-28,238

Why have gold and silver rates fallen? Can they recover soon?

Prithviraj Kothari, managing director at RiddiSiddhi Bullions Ltd, president of India Bullion and Jewellers Association Ltd. (IBJA), told ET Wealth Online that a stronger dollar, expectations of a Fed rate hike later this year, resilient US jobs and inflation data, and profit-booking after 2025's huge rally are the main reasons behind price falls.

Kothari says silver is falling faster than gold due to softer industrial demand.

Kothari says a price recovery in precious metals is possible but it needs a fresh macro trigger such as rate cuts, renewed geopolitical stress, or fading dollar strength.

Should investors grab the opportunity to invest in gold and silver at lower rates compared to a month ago?

Vedika Narvekar, research analyst, Anand Rathi Share and Stock Brokers, expects gold to initially test Rs 1,40,000 per 10 grams, with Rs 1,34,500 acting as a strong support level in a worst-case scenario.

Narvekar suggests long-term investors to consider accumulating gold in 3–4 tranches, investing gradually from current levels and adding on every 2% correction.

For traders, Narvekar suggests a buy-on-dips and sell-near-resistance strategy to make the most of the current gold prices.

For silver, Narvekar predicts a support zone near Rs 2,20,000 and resistance near Rs 2,60,000.

What can existing gold and silver investors do?

Kothari suggests existing holders can treat gold investment as a consolidation phase rather than a reversal of the broader trend, especially if they bought it as a long-term hedge.

“Rebalancing between gold and silver, or trimming silver (the more volatile leg) if allocations have grown too large, is worth considering. Keep an eye on Fed commentary and dollar strength, since these are the key near-term swing factors,” suggest Kothari.

Narvekar says although prices have corrected significantly from their recent highs, volatility in gold and silver prices is likely to remain high in the near term.

Narvekar recommends that investors should avoid aggressive lump sum investments at higher levels and instead accumulate gradually through staggered purchases or SIP-style investments.

Which are the best forms of gold and silver investments?

Kothari says paper or digital forms can work best for pure investment goals, while physical gold makes more sense for those who also want to use, gift, or gain sentimental value from the metal.

Narvekar suggests gold exchange-traded funds (ETFs) are ideal for investors seeking liquidity, transparency, and ease of trading.

“Gold mutual funds are suitable for investors who prefer SIPs and do not have a demat account. Digital gold can be considered for small, convenience-based purchase,” says Narvekar.