India gold and silver prices slump in late June 2026
On the Multi Commodity Exchange (MCX), India’s gold price fell sharply in the last week of June 2026, dropping about 4,400 ₹ per 10 g on 24‑25 June. Silver prices fell even more, sliding roughly 9,000 ₹ per kilogram over the same period. City‑wide listings showed 24‑carat gold trading near ₹1.46 lakh per 10 g in Delhi, Mumbai, Kolkata and other major markets, while silver settled around ₹2.5 lakh per kilogram.
A few days earlier, on 23 June, gold prices were relatively stable around ₹1.46 lakh per 10 g, with minor variations across Delhi, Mumbai, Chennai and other metros. Silver was slightly cheaper, edging down by about ₹100 per kilogram.
Market analysts described the recent declines as an “oversold” condition and suggested it could be a buying opportunity. Juerg Kiener of Swiss Asia Capital warned that each dip offers a chance to accumulate gold and silver, noting limited physical supply—especially for silver—and ongoing global demand. The price pressure was attributed to a strong US dollar, heightened geopolitical tension (including the Iran‑US conflict), and expectations of higher interest rates from the US Federal Reserve.
Despite the volatility, investor interest in gold as a safe‑haven asset remains robust, with demand for jewellery and investment gold staying steady across the country.