Gold, Silver Rates Today: Extending the downside trend for the second straight session on Friday, the COMEX gold, silver rates today witnessed a technical breakdown within a few minutes of the Opening Bell. The COMEX gold rate today broke below the crucial $4,750/oz support and made an intraday low of $4,671.74 per ounce. Likewise, the COMEX silver rate today broke below the crucial support placed at $70/oz and hit an intraday low of $63.900/oz within a few minutes of the Opening Bell.
On MCX, the gold futures contract for the April 2026 expiry finished at ₹Rs 1,52,260 per 10 gm on Thursday, around ₹28,500 below its record high of ₹₹1,80,779 per 10 gm. However, the MCX gold price in India finished marginally higher on Thursday. Similarly, the MCX silver rate ended at ₹2,46,452 per kg, around ₹1,73,500 below the record high of ₹4,20,048 per kg. MCX gold and silver rates climbed to the above-mentioned record highs on Friday last week. So, these dips in gold and silver rates today have occurred in just four sessions.
According to market experts, gold and silver prices are under selling pressure due to the strong US Dollar (USD). They said the US-Iran tension has eased as Iran and the United States are set to resume nuclear negotiations on Friday in Oman. This has dented safe-haven demand for gold and silver and strengthened the USD against the major global currencies.
Gold, Silver Rates Today: Why are gold, silver rates falling today?
Why are gold, silver rates today under pressure? Anuj Gupta, a SEBI-registered market expert, said, “Gold and silver rates today are under pressure because of the easing US-Iran tension. Both countries have announced that they will initiate talks for a possible nuclear deal. The first US-Iran talks are taking place on Friday this week, ie today. This has fueled demand for the US Dollar against major global currencies and hit the safe-haven demand for gold and silver.”
Making it clear that gold and silver prices have topped out, Amit Goel, Chief Global Strategist at PACE 360, said, “The precious metal and base metal rally have topped out. Those who have positions at higher levels are advised to exit in the dead-cat bounce, as we witnessed on Tuesday and Wednesday. Now, precious metals will go deeper and higher and slowly but steadily keep on reaching their fair value, which is still very low from the current. levels.”
US-Iran talks for nuclear deal
Iran and the United States are set to resume nuclear negotiations on Friday in Oman, returning to a diplomatic track derailed by Israel’s 12-day war on Iran in June and a subsequent wave of nationwide protests that triggered a deadly crackdown by Tehran.
The US-Iran talks come as the United States President Donald Trump intensifies pressure on the Islamic Republic, warning of possible US military action if Iran pursues mass executions linked to the protests, and reintroducing Iran’s nuclear program as a central foreign policy battleground after months of regional escalation.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
