Gold and silver prices drop significantly in Indian markets

Gold and silver prices in India experienced significant fluctuations and downward trends as of mid-September 2026. In major markets like Delhi and Mumbai, gold prices saw notable declines, with 24-carat gold dropping by as much as ₹2,700 in some sessions. On the Multi Commodity Exchange (MCX), 24-carat gold futures were recorded at approximately ₹1,52,655 per 10 grams.

Silver prices also faced a sharp decline, with some reports indicating a drop of ₹10,000 per kilogram in Delhi. The price for 999-purity silver was observed around ₹2,34,000 to ₹2,45,000 per kilogram depending on the city and specific market source.

International market trends show gold trading near $4,344 to $4,390 per ounce and silver near $64 to $65 per ounce. Market analysts suggest these movements are influenced by domestic demand, the US dollar, bond yields, and global economic indicators, including geopolitical tensions in the Middle East affecting crude oil prices.