New Delhi, 23rd October 2025: Gold and silver prices extended their losing streak this week as easing geopolitical tensions and renewed optimism over U.S.–China trade negotiations dented investor demand for safe-haven assets.
On the Multi Commodity Exchange (MCX), gold June futures slipped sharply, falling by nearly ₹7,900 from their recent peak of ₹99,358 per 10 grams. During Thursday’s trade, gold hit an intraday low of ₹91,461 per 10 grams, registering a fall of about ₹804 or 0.97%. By the end of the session, it settled at ₹92,265 per 10 grams, down 1.48% for the day.
Silver moved in the same direction. July futures for the white metal dropped 1.06%, or roughly ₹1,011, to around ₹94,455 per kilogram, before closing at ₹95,466 per kilogram, reflecting a 1.34% daily decline.
Why Precious Metal Prices Are Falling
The steep drop in gold and silver prices has been attributed to several global and domestic factors.
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Improved Market Sentiment:
Progress in the trade talks between the U.S. and China has calmed investors, reducing the urgency to park money in safer assets like gold. -
Cooling U.S. Inflation:
Recent U.S. inflation data showed softer price growth in April, leading to expectations that the Federal Reserve may delay any interest rate cuts. Higher or steady rates generally make non-yielding assets such as gold less attractive. -
Rising U.S. Bond Yields:
The yield on the 10-year U.S. Treasury surpassed 4.5%, pulling investment away from precious metals and putting downward pressure on their prices. -
Dollar Movements:
Even though the U.S. Dollar Index (DXY) edged slightly lower—down around 0.22% to 100.82—overall confidence in global equities and bonds has limited buying interest in bullion.
Market Range and Outlook
Analysts tracking commodity markets expect continued volatility in gold and silver in the near term.
Gold prices are seen holding support between ₹91,770 and ₹91,360, with resistance near ₹92,650–₹93,100. Silver is expected to find support around ₹94,800–₹94,200, while resistance lies between ₹96,000–₹96,650.
Experts suggest that traders should remain cautious until key global economic data and U.S. monetary policy updates provide clearer signals. For now, ₹92,000 per 10 grams remains a crucial level for gold on MCX — a breach below this could trigger further declines.
While the recent dip has disappointed short-term investors, many view it as a natural correction following months of steady gains. If inflation pressures return or global uncertainty deepens, demand for gold as a hedge could strengthen again.
For long-term investors, the ongoing correction might offer a better entry point, but traders are advised to monitor global cues closely before taking fresh positions.