MCX Gold Price Drops 0.60% to ₹1,60,615 per 10g; Silver Down Over ₹1,000
The MCX Gold Price saw a sharp correction on Monday as traders booked profits at higher levels. Gold futures on the Multi-Commodity Exchange of India slipped by 0.60 percent, settling near ₹1,60,615 per 10 grams. Silver prices also declined heavily, falling by more than ₹1,000 per kilogram, tracking weak global cues.
The fall comes after gold touched record highs in the previous sessions. Investors are now watching global bond yields, the US dollar index, and signals from the US Federal Reserve. Spot gold in the international market also eased, while COMEX futures traded lower on the COMEX.
Why is this important for investors? Because gold has been one of the best-performing assets in recent months, driven by safe-haven demand, central bank buying, and geopolitical tensions. A correction of 0.60 percent may look small, but at these high price levels, even a small move means a big value shift.
MCX Gold Price Today: Key Data Investors Must Know
- MCX Gold April Futures closed near ₹1,60,615 per 10 grams, down 0.60 percent
- Intraday low hovered around ₹1,59,800 levels
- Previous session high was near record territory above ₹1,61,500
- MCX Silver May Futures dropped over ₹1,000 per kg
- International spot gold slipped below key resistance levels
- The US Dollar Index strengthened slightly, putting pressure on bullion
- US 10-year bond yields remained firm, reducing the appeal of non-interest assets
This data clearly shows that the fall is linked more to global cues than domestic demand weakness.
What Triggered the Fall in MCX Gold Price?
The correction in the MCX Gold Price is mainly due to three factors.
First, profit booking at record highs. Gold has rallied strongly in the past few weeks. Many short-term traders decided to lock in gains.
Second, a stronger US dollar. When the dollar rises, gold becomes expensive for holders of other currencies. This usually leads to lower demand.
Third, rising bond yields in the United States. When bond yields go up, investors move funds from gold to interest-earning assets.
According to global bullion analysts, gold is still in a long-term bullish trend. However, short-term pullbacks are normal after a sharp rally.
A recent update from the World Gold Council showed that central banks continue to add gold to their reserves. This gives strong long term support to prices.
How Are Global Markets Affecting MCX Gold Price?
Gold prices in India closely follow international trends. When COMEX gold futures fall, MCX gold usually reacts the next morning.
Overnight, global spot gold traded slightly lower as traders assessed fresh economic data from the United States. Inflation data came in steady, but the Federal Reserve signaled that rate cuts may take longer than expected.
This reduced immediate bullish sentiment in precious metals.
At the same time, crude oil prices remained volatile. Equity markets showed mixed trends. Investors shifted some funds back to risk assets, reducing safe-haven buying in gold.
Social Media Buzz Around Gold and Silver
Market experts and traders are actively discussing the latest move in gold.
These posts highlight how global mining output, ETF flows, and investor positioning are influencing short-term price action.
Another analyst shared technical insights.
A domestic market watcher also commented on MCX trends.
These discussions show that while short-term volatility exists, long-term demand remains strong.
MCX Gold Price Outlook: Support, Resistance, and Predictions
- Immediate support level around ₹1,59,500
- Strong support zone near ₹1,57,800
- Immediate resistance at ₹1,61,500
- Breakout level above ₹1,63,000 may open fresh upside
- Short-term trend sideways to mildly bearish
- Medium term trend is still bullish
Technical charts suggest that if gold holds above ₹1,59,000, buyers may return. However, a fall below this level could trigger more selling.
What Are Analysts Predicting Next?
Commodity experts believe that gold may consolidate in the range of ₹1,57,000 to ₹1,63,000 in the coming weeks.
If global uncertainties rise again, prices could retest record highs.
Some brokerage estimates suggest that if the US Federal Reserve signals rate cuts by mid-year, gold could move towards ₹1,65,000 or even ₹1,68,000 per 10 grams on MCX.
However, if bond yields continue to rise, gold may correct further towards ₹1,55,000 levels.
How Is Silver Performing Compared to Gold?
Silver saw sharper losses compared to gold. On MCX, silver futures fell by more than ₹1,000 per kilogram.
Why did silver fall more?
Silver has both industrial and investment demand. Weak global manufacturing data and mixed economic signals often impact silver more than gold.
Still, many analysts believe silver may outperform gold later if industrial activity improves.
Domestic Factors Impacting MCX Gold Price
In India, gold demand remains steady due to wedding season buying and festive demand. Retail demand for 22-carat and 24-carat gold remains healthy in major cities like Mumbai, Delhi, Chennai, and Kolkata.
The Indian rupee also plays a key role. If the rupee weakens against the US dollar, gold prices in India rise even if global prices remain stable.
The policy stance of the Reserve Bank of India also matters. Any liquidity changes or currency moves can influence bullion prices.
Is This a Good Time to Buy Gold?
This is a common question among retail investors.
If you are a long-term investor, small corrections can offer buying opportunities.
If you are a short-term trader, it is important to watch support and resistance levels carefully.
Experts suggest using proper risk management. Avoid investing all funds at once. Instead, consider staggered buying.
Many investors today also use modern trading tools and AI stock analysis platforms to track trends and manage risk more effectively. While gold is not an AI Stock, data-driven insights help in better decision-making across asset classes.
Gold ETFs and Investment Demand
Gold Exchange Traded Funds have seen mixed flows recently. After strong inflows during the rally, some profit booking is visible.
However, long-term allocation to gold remains stable. Financial planners suggest keeping 5 percent to 15 percent of a portfolio in gold for diversification.
Investors also track gold prices alongside equity markets, especially growth sectors like AI Stock research driven companies. This helps in balancing risk and return.
What Should Traders Watch This Week?
Key events to monitor include US economic data, Federal Reserve speeches, dollar index movement, and crude oil trends.
If global risk sentiment worsens, safe-haven demand may return quickly.
Short-term traders should watch volume data on MCX. Higher volumes near support levels can indicate strong buying interest.
Featured Snippet: Why Did MCX Gold Price Fall Today?
The MCX Gold Price fell 0.60 percent due to profit booking at record highs, a stronger US dollar, and firm US bond yields. Silver dropped over ₹1,000 following global weakness and reduced safe-haven demand.
Long-Term View on Gold
Despite short-term volatility, the long-term story for gold remains strong.
Central banks continue to buy gold. Geopolitical tensions remain unresolved. Inflation concerns are still present in many economies.
Gold is often seen as a store of value during uncertain times.
If inflation stays elevated and interest rates eventually fall, gold may see another strong rally.
Final Thoughts for Investors
The recent dip in MCX Gold Price to ₹1,60,615 per 10 grams shows that markets move in cycles. After a strong rally, corrections are normal.
Silver’s sharp fall of over ₹1,000 also reflects global pressure on precious metals.
For investors, the key is to stay calm. Avoid panic selling. Focus on long-term goals. Track global signals. Use reliable data.
Gold remains a trusted asset in Indian households and global portfolios. While short-term swings may continue, the broader trend still depends on global interest rates, currency movement, and risk sentiment.
FAQs
MCX Gold Price fell due to profit booking, a stronger US dollar, and rising bond yields. These factors reduced short-term buying interest in bullion.
Immediate support is near ₹1,59,500. A break below this level may push prices towards ₹1,57,800.
Silver has industrial demand along with investment demand. Weak global data affected silver prices more sharply than gold.
Disclaimer
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.