MCX Silver & Gold Prices Drop: Gold Falls 0.76% to Rs 1.45 Lakh, Silver Slips 0.86% Amid US-Iran Tensions

Gold and silver prices on the Multi Commodity Exchange (MCX) traded lower despite geopolitical concerns in the Middle East. Profit booking, a stronger dollar index, and mixed global commodity trends weighed on sentiment. MCX Gold slipped below the Rs 1.45 lakh mark, while MCX Silver extended recent losses as traders reassessed safe-haven demand and global economic signals.

Why MCX Gold and MCX Silver Prices Fell Despite Geopolitical Risks

• Gold futures for the August contract on MCX declined 0.76%, or around Rs 1,100, to trade near Rs 1.45 lakh per 10 grams, even as US-Iran tensions remained elevated.
• Silver futures dropped 0.86%, losing over Rs 1,000 per kg, and traded near the Rs 1.22 lakh per kg zone. The metal has now corrected sharply from its recent highs after witnessing profit booking across commodity markets.
• According to market reports cited by NDTV Profit, softer US inflation data initially supported precious metals, but gains remained capped due to investor caution and currency market movements.

What Is Pressuring MCX Gold Below Rs 1.50 Lakh?

A stronger US Dollar Index hovering above the 98 level reduced the appeal of dollar-denominated commodities and pressured gold prices globally. COMEX Gold traded near $3,340 to $3,360 per ounce, remaining below recent record highs despite safe-haven buying linked to Middle East developments. Market participants also booked profits after MCX Gold recently touched historic highs above Rs 1.50 lakh per 10 grams, leading to short-term corrections.

Is This a Trend Reversal for MCX Silver and MCX Gold?

The current decline does not yet indicate a major trend reversal. Gold remains up more than 25% year to date, while silver has delivered double-digit gains in 2026 despite recent volatility. Analysts note that central bank purchases, geopolitical uncertainty, and expectations of future US Federal Reserve rate cuts continue to provide medium-term support to precious metals.

What Key Levels Should Traders Watch?

• For MCX Gold, immediate support is seen near Rs 1.44 lakh, while resistance remains around Rs 1.48 lakh to Rs 1.50 lakh.
• For MCX Silver, traders are monitoring support near Rs 1.20 lakh per kg, with resistance around Rs 1.25 lakh per kg.
• Technical analysts highlighted that silver has fallen by more than 10% in the last four trading sessions, making upcoming support zones critical for short-term direction.

MCX Silver and MCX Gold Market Review: MEYKA Analyst Perspective

The recent correction in MCX Silver and MCX Gold appears driven more by profit booking than by a change in the broader bullish outlook. Gold remains close to historic highs despite a decline of 0.76%, while silver’s 0.86% fall reflects increased volatility after a strong rally. Global investors continue to monitor US inflation trends, Federal Reserve policy expectations, and developments in the Middle East. A sustained escalation in US-Iran tensions could revive safe-haven demand and support higher prices. At the same time, a stronger dollar and higher bond yields may limit upside momentum. For investors, the key takeaway is that precious metals remain fundamentally supported, but near-term trading could stay volatile between major support and resistance levels as global macroeconomic data continue to influence sentiment.

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.