Significant Drop in Gold and Silver Prices in India Amid Global Market Fluctuations

Gold and silver prices in India have seen a significant decline due to volatility in the international bullion market following the Iran-US ceasefire. Gold futures for June 2026 dropped by 0.8%, while silver futures fell by 2%. The price of 24 karat gold decreased to Rs 13,148 per gram, and silver is now priced at Rs 255 per gram. Factors contributing to this decline include ongoing tensions in the Strait of Hormuz and the US's military positioning in the region. Additionally, the Indian stock market opened lower, reflecting broader economic concerns. Read on for a detailed analysis of these market movements.

By Narendra Chaudhary Apr 9, 2026, 12:47 IST

Current Trends in Gold and Silver Prices

On Thursday, gold prices in India experienced a notable decrease, influenced by significant fluctuations in the global bullion market following the ceasefire between Iran and the United States. Silver prices also fell after a rise the previous day. At the Multi Commodity Exchange (MCX), silver futures for May 2026 delivery dropped by Rs 4,785, or 2%, settling at Rs 2,35,133 per kg. Meanwhile, gold futures for June 2026 delivery decreased by Rs 1,229, or 0.8%, to Rs 1,50,647 per 10 grams. The price of 24 karat gold in India fell by Rs 234 per gram, bringing it down to Rs 13,148 per gram. For 100 grams, the price of 24 karat gold decreased by Rs 23,400, totaling Rs 13,14,800. The rate for 22 karat gold also slipped by Rs 215 per gram to Rs 13,885, while 18 karat gold saw a decline of Rs 176 per gram, now priced at Rs 11,361, according to market reports. The price of silver in India has now reached Rs 255 per gram and Rs 2,55,000 per kilogram. Internationally, gold prices remained stable around $4,700 per ounce after experiencing significant volatility in the last two trading sessions.

Factors Behind the Decline in Precious Metal Prices

Why Are Gold and Silver Prices Falling?

Despite Iran's assurances for safe passage, the Strait of Hormuz continues to face significant obstructions. The US government has indicated plans to initiate direct discussions with Iran. Former President Donald Trump stated that all US military assets, including aircraft and ships, will remain positioned around Iran until a comprehensive agreement is finalized. As tensions escalate in Lebanon, Trump reassured that the Strait of Hormuz would remain open and secure, while the US military prepares for potential future actions. He emphasized that all military resources would stay in place until a genuine agreement is fully adhered to. In the Indian stock market, there was also a downturn, with the Sensex dropping 500 points and the Nifty opening below 23,900. The Sensex started the day at 77,319.33, down by 243.57 points or 0.31%, while the Nifty50 opened with a decline of 88.30 points or 0.37%, at 23,909.05.