Gold Silver Rates Today: Gold Below $4800, Silver Crashes
Both gold and silver prices fell sharply on Friday due to easing geopolitical tensions and a stronger US dollar putting pressure on precious metals. Both metals fell (again) for the second straight session resulting in technical breakdowns as soon as global markets opened up.
Gold and Silver Prices Fall Sharply At COMEX
At the COMEX, Gold prices fell below the critical support level of 4,750 dollars / ounce and established an intraday low of 4,671.74 dollars / ounce as a result of massive selling pressure. Silver prices fell even faster, as they fell below the critical support price of 70 dollars / ounce and established an intraday low of 63.900 dollars / ounce for an almost 10% loss.
Market participants attributed the sharp fall to decreased demand for safe haven assets due to an increased risk appetite in the global economy and a strengthening of the US dollar versus other major currencies.
MCX Gold and Silver Prices Remain Well Below All-Time Highs
In the Indian market, MCX gold futures for April 2026 closed at ₹1,52,260 / 10 grams on Thursday, approximately ₹28,500 less than its all-time high of ₹1,80,779 / 10 grams set just last week. While the global market was falling, MCX gold futures actually rose minimally in the last session compared to the previous session.
In addition, the closing price of MCX silver on Wednesday was ₹2,46,452 per kilogram, or just over ₹1,73,500 off its historical high of ₹4,20,048 per kilogram. Both gold and silver have significantly dropped over the last four trading sessions since reaching their peaks.
What Is Causing Gold and Silver Prices to Drop Today?
Market analysts suggest that reduced military activity between the U.S. and Iran is primarily responsible for today’s declines in gold and silver. According to Anuj Gupta of SEBI, both nations announced that they would be resuming nuclear discussions in Oman on Friday.
This decrease in geopolitical uncertainty has resulted in diminished demand for safe-haven assets and a strengthening of the U.S. Dollar, both of which have had an impact on the prices of gold and silver.
This change in global perception has been a key contributor to commodity markets, as seen in the recent news updates when investors reassess their holdings in precious metals.
Analyst’s Thoughts: Precious Metals Have Reached Peak Value
Amit Goel, Chief Global Strategist at PACE 360, believes that the run-up in silver and gold and other precious metals has peaked, and that as an investor, you should take advantage of short-term recoveries to sell. He believes that both gold and silver are likely to see a gradual correction back toward their fair value, which are both significantly below their current prices.
Increased Confidence In The Dollar Due To The US-Iran Nuclear Talks
The upcoming US-Iran nuclear negotiations represent a return to diplomacy after an extended period of heightened tensions associated with the many regional conflicts throughout the world and the continuing domestic turmoil resulting from those very same conflicts taking place within the country of Iran itself. As diplomatic relations begin once again, the US Dollar has become a stronger currency, thus adding additional downward pressure on precious metals.
As geopolitical risk diminishes and the US Dollar continues its strengthening trend, prices for gold and silver may continue to experience volatility in the short term.
