Gold prices in India have witnessed a sharp decline over the past five days, losing over Rs 22,000 per 10 grams as global factors fuel market jitters.
In January, gold prices in India were close to Rs 1.9 lakh.
On the Multi Commodity Exchange (MCX), April gold futures fell Rs 8,089, or 5.6 per cent, to Rs 1,36,403 per 10 grams on Monday, continuing a week-long slump. Last week, the yellow metal had already dropped Rs 13,974, or 8.82 per cent, to close at around Rs 1.44 lakh per 10 grams.
Analysts warn that the slide could extend further, marking the fourth consecutive week of losses.
“Gold resumed with a gap down today and is likely to continue its downside momentum amid ongoing tensions in West Asia, which have intensified inflation fears and rate hike expectations,” said Aamir Makda, Commodity & Currency Analyst at Choice Broking.
Global markets have mirrored the domestic decline. On the Comex, April gold futures fell USD 202.4, or 4.42 per cent, to US$ 4,372.5 per ounce, marking a fifth straight session of losses. Over the past week, international gold has dropped nearly 10 per cent, with surging oil prices and inflation concerns prompting investors to adjust expectations of central bank rate policies.
“Gold fell below US$ 4,400 per ounce as the ongoing Middle East conflict heightened inflation fears, while major economies face pressure to boost liquidity, including through gold sales,” said Jigar Trivedi, Senior Research Analyst at IndusInd Securities.
A firm US dollar has further pressured the Indian rupee, weakening it to near 94 against the greenback, which adds to inflationary pressures and could continue to weigh on safe-haven assets like gold.
Analysts warn
Analysts expect the downward trend in gold prices to continue in the near term unless global inflation fears ease or geopolitical tensions stabilize. Investors are advised to monitor crude oil prices, central bank actions, and currency movements, which are likely to dictate gold’s short-term trajectory.
Gold rates early 2026
Reports indicated 24K gold briefly touched levels close to Rs 1,90,000 per 10g in late January 2026, with March 2026 recording high points around Rs 1, 36 lakh 10g.
PTI inputs
