In the international markets, spot gold rose marginally to $4,708.17 per ounce, while silver gained nearly 1% to $75.96 per ounce.
| Photo Credit: Reuters
Precious metal prices extended losses for the third straight session in the national capital on Friday (April 24, 2026), with gold declining ₹200 and silver plunging ₹3,000 amid a firm U.S. dollar and elevated global uncertainty.
According to the All India Sarafa Association, the yellow metal of 99.9% purity slipped ₹200 to ₹1,55,900 per 10 grams (inclusive of all taxes) from Thursday’s (April 23) closing level of ₹1,56,100 per 10 grams.
Silver also dropped ₹3,000 to ₹2,47,000 per kilogram (inclusive of all taxes). The metal had settled at ₹2,50,000 per kg in the previous market session.
“Gold continued to face pressure, trading near a two-week low with a negative bias as ongoing geopolitical tensions in West Asia kept market sentiment cautious,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.
The standoff in the Strait of Hormuz has kept energy prices elevated, reinforcing inflation concerns and limiting the upside in gold, he added.
“A firm dollar and steady U.S. Treasury bond yields have added to further the downside pressure. The dollar index is on track for its first weekly gain after three consecutive declines, reducing the appeal of non-yielding assets like gold,” Mr. Gandhi said.
In the international markets, spot gold rose marginally to $4,708.17 per ounce, while silver gained nearly 1% to $75.96 per ounce.
Price action continues to be driven by developments in West Asia, particularly tensions involving Iran, Israel, and the U.S. presence in the Strait of Hormuz, which have kept uncertainty elevated, Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities, said.
With conflicting signals and no clear resolution, gold is likely to remain volatile and driven by news flow, he added.
Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said April’s preliminary University of Michigan inflation expectations surged to 4.8%, marking the sharpest monthly increase since April 2025.
The final reading due later in the day will be a crucial input ahead of the April 28-29 Federal Open Market Committee (FOMC) decision, which is expected to provide further direction on monetary policy path and near-term trajectory for bullion prices, she added.
Published – April 24, 2026 07:09 pm IST
