Gold and Silver Rates Update: April 2, 2026

Gold and Silver Prices Witness Significant Decline Amid Strong US Dollar

On Thursday, April 2, gold and silver prices in India experienced a notable decline following losses in international bullion prices. This decrease was largely attributed to the strong US dollar.

The Multi Commodity Exchange (MCX) gold June futures opened lower by ₹1,218, or 0.79%, at ₹1,52,490 per 10 grams, compared to the previous close of ₹1,53,708. Meanwhile, MCX silver May futures also started the session lower, declining by ₹701, or 0.28%, to ₹2,42,800 per kilogram from the previous close of ₹2,43,501.

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Selling pressure in gold and silver intensified, with MCX gold dropping over 2% to around ₹1.50 lakh per 10 grams. Meanwhile, MCX silver plunged by more than ₹12,000, or 5%, slipping below ₹2.32 lakh per kg.

The global market also witnessed a decline in gold and silver prices following US President Trump's statement that the US would strike Iran "extremely hard" over the next two to three weeks. Spot gold fell 1.3% to $4,695.15 per ounce, while silver dropped 2.7% to $73.05 per ounce.

In India, 24-carat gold was priced at ₹1,47,360/10 gm, while 22-carat gold was priced at ₹1,35,080/10 gms, as per the Indian Bullion Association (IBA) data. Silver prices today are at ₹2,27,170/kg (Silver 999 Fine), as per the IBA website.

Read also: Gold and Silver Prices in India: A Review of Current Rates Across Major Cities

According to experts, gold prices in India are expected to remain supported in the ₹1,33,500-₹1,35,000 range, while facing strong resistance near ₹1,57,600. The market movement will largely hinge on the upcoming US payroll data, scheduled for release on Friday.