25 April,2026 09:05 PM IST | Mumbai | mid-day online correspondent
Gold prices under pressure this week. Representational Pic
At present, MCX gold futures stand at around Rs 1,52,683, while silver futures are near Rs 2,44,877 per kg.
Gold prices came under pressure this week, falling around 0.34 per cent as investors booked profits after recent gains. The decline reflected a short-term correction in precious metals rather than a major trend reversal.
Despite the weekly drop, gold futures on the Multi Commodity Exchange (MCX) ended Friday higher, rising 0.61 per cent. Silver futures also gained 1.39 per cent on the day, showing some recovery in sentiment.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold for 10 grams stood at Rs 1,51,479 on Friday, slightly lower than Rs 1,52,002 at the start of the week. This reflects a relatively stable but slightly weak trend in domestic prices, reported IANS.
Gold managed to recover toward the end of the week as global sentiment improved. Markets reacted positively to reports of progress in US-Iran diplomatic discussions, which raised hopes of easing geopolitical tensions.
At the same time, investors also tracked US Federal Reserve interest rate expectations and broader financial developments, including changes in bond yields.
Gold briefly climbed above USD 4,700 per ounce as falling yields made non-interest-bearing assets more attractive.
Although safe-haven demand eased slightly, uncertainty remained due to ongoing global tensions. Analysts noted that selective buying appeared at lower levels, but overall momentum stayed weak.
Reports also highlighted diplomatic activity, with Iran's Foreign Minister Abbas Araghchi visiting Islamabad and US envoys engaging in discussions. However, Iranian officials denied any direct talks with US representatives.
This uncertainty has kept precious metals from showing a clear upward trend, as per the news agency.
In global markets, COMEX gold traded around the USD 4,720 to USD 4,750 range, gaining about 3 per cent on a weekly basis. However, analysts see strong resistance near the USD 5,000 level, which could limit further gains unless a strong trigger emerges.
Silver traded near USD 75-USD 76, showing consolidation with a slightly negative bias after failing to hold recent highs.
Outlook = Volatility likely to continue as experts say gold and silver may continue to move sideways unless there is a fresh trigger such as geopolitical escalation or major shifts in US monetary policy. Any changes in global dollar strength, interest rates, or international tensions could increase volatility in domestic MCX prices in the coming weeks.
(With IANS Inputs)
