New Delhi buzzed with good news for gold and silver enthusiasts on Thursday as prices of these precious metals took a sharp dip. According to the India Bullion and Jewellers Association (IBJA), 24-karat gold plummeted by Rs 1,672 per 10 grams, settling at Rs 1,55,650, down from Rs 1,57,322.
The slide didn’t spare other variants either. 22-karat gold fell to Rs 1,42,575 per 10 grams from Rs 1,44,107, while 18-karat gold dropped to Rs 1,16,738 from Rs 1,17,992. Silver buyers cheered too, with prices crashing Rs 7,316 per kilogram to Rs 2,59,133, previously at Rs 2,66,449.
IBJA updates rates twice daily at noon and 5 PM, reflecting spot market trends. Futures markets echoed the downturn: gold for April 2026 contracts eased 0.47% to Rs 1,58,055, and silver for March 2026 shed 1.83% to Rs 2,58,192.
Globally, trading was mixed. Gold hovered flat around $5,100 per ounce, while silver dipped nearly 1% to about $83. Jatin Trivedi of LKP Securities attributed the fall to stronger-than-expected US non-farm payroll data, pressuring gold prices. On MCX, gold finds support at Rs 1,56,000 with resistance at Rs 1,60,000.
Market eyes now shift to Friday’s US CPI data release, which could dictate gold’s next move. This dip offers a prime buying window amid volatile global cues, potentially signaling more relief if economic indicators align favorably.