Gold and silver prices declined in the domestic market for a second consecutive session this week amid selling pressure on the Multi Commodity Exchange.
On Tuesday, gold prices on the Multi Commodity Exchange fell by Rs 1,161, while silver prices declined by Rs 4,393.
Gold eased to Rs 1,53,728 per 10 grams, compared with the previous close of Rs 1,54,897 per 10 grams. Silver dropped to Rs 2,35,808 per 10 grams, down from Rs 2,40,201 per 10 grams in the previous trading session.
Trend on MCX
The Multi Commodity Exchange plays a key role in determining the direction of domestic prices. Selling pressure intensified in both gold and silver at the opening on Tuesday.
The weakness is being attributed to global cues and movements in the US dollar. Market volatility remains elevated, leading to significant price fluctuations.
International Prices on Comex
In the international market on Comex, prices also remained under pressure. Gold declined to $4,975.80 per ounce, while silver fell to $75.335 per ounce.
Global commodity markets are influenced by multiple factors. Markets in China are currently closed, affecting trading volumes and prices. When major markets remain shut, liquidity declines and price volatility can increase.
Gold and Silver Below Record Highs
On January 29, 2026, both gold and silver touched record levels on the Multi Commodity Exchange. On that day, gold reached nearly Rs 1,80,000 per 10 grams.
At the current level of Rs 1,53,728 per 10 grams, gold is Rs 26,272 per 10 grams below its all-time high.
Silver had reached approximately Rs 4,20,000 per kilogram on January 29. It is now at Rs 2,35,808 per 10 grams, placing it Rs 1,84,192 per kilogram below its highest level.
City-wise Prices
In Delhi, the price of 24-carat gold stood at Rs 1,55,060 per 10 grams, while silver was quoted at Rs 2,60,000 per kilogram.
In Patna, the price of 24-carat gold was Rs 1,54,960 per 10 grams. Variations across cities are attributed to differences in taxes and local demand.
Factors Influencing Prices
Gold and silver prices are influenced by several international factors, including the strength of the US dollar, changes in interest rates, geopolitical developments and global economic data.
A ber US dollar typically exerts pressure on gold prices. Similarly, easing global tensions may lead investors to allocate funds to other assets instead of gold.
