Gold Rates Today In India: Precious metal prices in India have witnessed a massive fall from the wall of benchmark. The precious metal is witnessing a sharp intraday crash in India. The domestic gold futures market slipped below the key level of the ₹1,50,000 mark.
While we are wondering what has happened, the reason is evident. The sudden decline came with the surge in crude oil prices globally.
As US President Donald Trump has rejected the peace talks with Iran, the geopolitical conflict surrounding the Strait of Hormuz has escalated. This conflict has pushed crude oil prices to rise.
This whole incident has restarted the talk in the town about inflation. Investors are concerned now, expecting the US Federal Reserve may keep interest rates higher for longer or consider further hikes.
Since gold is a non-yielding asset, higher interest rates increase the opportunity cost of holding the precious metal.
Right now, as investors shift towards higher-yielding alternatives, gold faces selling pressure. This, in turn, is putting pressure on domestic gold as well.
MCX Gold Rates And Silver Prices Today
On the Multi Commodity Exchange (MCX), gold and silver futures witnessed a sharp decline:
- MCX Gold Futures (October 2026): Fell by ₹3,214 (over 2%) to ₹1,47,667 per 10 grams.
- MCX Silver Futures (December 2026): Dropped by ₹6,661 (over 3.4%) to ₹2,28,035 per kg.
Impact On Global and Domestic Gold Markets
The surge in crude oil prices has triggered a sharp crash globally in precious metals. Which further has triggered a massive sell-off across precious metals and exchange-traded funds (ETFs).
This has intensified market volatility and has added additional pressure on investor sentiment and precious metal prices.
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Market Asset
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Approximate Price Drop / Current Level
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International Spot Gold
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Dropped over 2% to break below the critical $4,200 per ounce threshold.
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MCX Gold Futures (India)
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Crashed by over ₹3,200, plunging to around ₹1,47,667 per 10 grams.
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Precious Metals ETFs
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Tracked the spot market dump, with gold and silver ETFs tumbling up to 4% in morning trade.
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Other Precious Metals
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Silver took an even heavier hit (down over 3.4%), while Platinum and Palladium both fell over 2%.
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