Mumbai: Gold and silver prices fell sharply on Monday as traders booked profits after last week’s strong rally.
On the Multi Commodity Exchange (MCX), April 2026 gold futures dropped Rs 1,000 to Rs 1,54,905 per 10 grams. Silver futures for March 2026 delivery fell Rs 8,265 to Rs 2,36,100 per kg.
In global markets, spot gold slipped 0.4 percent to USD 5,020 per ounce after rising 2.5 percent earlier. US gold futures also edged lower. Spot silver declined 0.6 percent to USD 76.92 per ounce following a strong rise in the previous session.
Why Are Prices So Volatile?
According to experts, global markets are facing very high volatility. AI-related shocks and heavy selling in global stock markets have created uncertainty.
They said gold and silver are moving sharply due to changes in the dollar index, US-Iran developments, and geopolitical tensions. Because of this, prices may continue to swing widely in the coming days.
Key Support and Resistance Levels
For gold internationally, support is seen near USD 5,010–4,970 per ounce and resistance at USD 5,080–5,122.
For silver, support lies between USD 74.40–72.00, while resistance is at USD 80.00–82.40.
On MCX, gold has support at Rs 1,54,400–1,53,150 and resistance at Rs 1,56,800–1,58,200. Silver support is seen at Rs 2,38,800–2,32,000, while resistance stands at Rs 2,49,100–2,55,000.
Experts suggest buying gold on dips in the Rs 1,54,000–1,53,300 range with a stop loss below Rs 1,52,000. However, he advises avoiding silver trading due to extreme volatility.
Physical Gold Prices in Major Cities
In Delhi, 22-carat gold is priced at Rs 1,15,792 per 8 grams, while 24-carat gold is Rs 1,26,312.
In Mumbai, 22-carat gold costs Rs 1,15,672 and 24-carat is Rs 1,26,192.
In Chennai, 22-carat gold is Rs 1,16,472 and 24-carat stands at Rs 1,27,064.
In Hyderabad, 22-carat gold is Rs 1,15,672 and 24-carat is Rs 1,26,192.
Disclaimer: This article is for informational purposes only. It does not constitute investment advice. Commodity trading involves risk. Investors should consult a certified financial adviser before making any trading decisions.
