New Delhi, India — April 17, 2026
India’s bullion market witnessed a steep decline on Friday, with both gold and silver prices falling sharply in the national capital amid weak domestic demand and global uncertainties.
According to data released by the All India Sarafa Association, silver prices recorded a significant drop, while gold also extended its losses.
Silver Leads Decline, Gold Slips
Silver prices fell ₹5,700 (2.2%) to ₹2,53,000 per kilogram (inclusive of taxes), marking one of the sharpest single-day declines in recent sessions.
Gold prices for 99.9% purity dropped ₹1,600 (1.01%) to ₹1,56,200 per 10 grams (inclusive of taxes), reflecting subdued buying interest in the domestic market.
Global Trends: Mixed Signals
In international markets, the trend remained mixed:
- Spot gold traded slightly lower at $4,786.90 per ounce
- Silver gained 1.12% to $79.28 per ounce
Market analysts say that despite supportive global cues, gold failed to sustain higher levels due to weakening momentum.
Analyst View: Dollar Strength Weighs on Gold
According to Soumil Gandhi, Senior Analyst (Commodities) at HDFC Securities, gold prices remained under pressure as they slipped below key resistance levels.
He noted that a strong U.S. dollar and stable Treasury yields continued to weigh on bullion prices. Additionally, ongoing geopolitical uncertainty, particularly around the Strait of Hormuz, has kept investors cautious.
Key Takeaways
- Silver: Down ₹5,700 to ₹2.53 lakh/kg
- Gold: Down ₹1,600 to ₹1.56 lakh/10g
- Global Gold: $4,786.90/oz
- Global Silver: $79.28/oz
- Key Drivers: Weak demand, strong dollar, stable bond yields, geopolitical uncertainty
Market Outlook
The recent decline highlights the fragile sentiment in the bullion market. Analysts believe that future price direction will depend on global macroeconomic cues, currency movements, and geopolitical developments.
If the U.S. dollar remains strong and bond yields stable, gold prices may continue to face downward pressure in the near term.
