Gold and Silver Prices Fall in India Amid Strong Dollar, Rate‑Hike Fears

India’s gold and silver futures slipped on June 29, 2026. On the Multi Commodity Exchange (MCX) the gold August contract opened at ₹1,44,180 per 10 g, later trading around ₹1,43,950, while the silver July contract opened at ₹2,21,780 per kg and fell to roughly ₹2,20,700. In international markets, gold traded at about $4,084 per ounce and silver at $58.67 an ounce, both lower than the previous close.

The declines were attributed to easing global market volatility, a strengthening U.S. dollar index that stayed above 101, and growing expectations of higher interest rates after comments from Federal Reserve officials. Analysts also noted that a recent U.S.–Iran cease‑fire agreement could reduce safe‑haven demand for precious metals, further pressuring prices.

These movements reflect broader concerns among Indian investors about monetary‑policy tightening and currency dynamics, influencing both domestic and global metal markets.