Gold falls Rs 1,700, silver down nearly Rs 5,000: Should you buy now or wait?
Gold and silver prices fell sharply on Monday, offering some relief to buyers after the recent rally pushed rates near record highs across retail and futures markets in India.
Gold and silver prices dropped sharply on Monday, giving buyers some relief after the recent rally that pushed rates close to record highs.
The fall was visible in both domestic futures and retail markets, with many investors booking profits after last week’s surge. The correction also comes just after Akshaya Tritiya, when high prices had kept many jewellery buyers cautious.
On the Multi Commodity Exchange (MCX), gold futures for the May contract were trading at Rs 1,51,410 per 10 grams at around 9:20 am, down Rs 1,766 or 1.15%. Silver May futures were at Rs 2,52,304 per kg, lower by Rs 4,838 or nearly Rs 5,000, down 1.88%.
In the retail market, prices also eased but remained elevated. Gold was quoted at around Rs 1,55,790 per 10 grams for 24-carat purity, while silver was near Rs 2,74,900 per kg in major cities.
Fresh city-wise updates also showed 24-carat gold in Mumbai at around Rs 1,52,960 per 10 grams.
The main reason for the fall is profit-booking after the recent spike in prices. Gold and silver had rallied strongly in recent sessions, and traders often sell after a sharp rise to lock in gains.
Global cues also added pressure. Reuters reported that gold prices fell internationally as the US dollar strengthened, making gold more expensive for overseas buyers. Rising bond yields and inflation concerns linked to fresh tensions in West Asia also hurt sentiment.
Silver saw a steeper decline because it tends to be more volatile than gold and often reacts faster when traders cut risky positions.
The timing is important for Indian buyers. Just a day after Akshaya Tritiya, Reuters reported that festival demand was subdued in many regions because record-high prices discouraged jewellery purchases. Many buyers preferred coins and lightweight jewellery instead.
So, should you buy now?
Analysts say this looks more like a temporary correction than a full reversal. Prices are still high compared with earlier months, and global uncertainty continues to support demand for safe-haven assets such as gold.
For jewellery buyers, small dips like this can be an opportunity to buy gradually instead of waiting for a major crash. For investors, staggered buying may be smarter than making one large purchase at current levels.
The key takeaway is simple: gold has become cheaper today, but prices are still expensive overall. Whether you buy now or wait depends on your need and time horizon.
Gold and silver prices dropped sharply on Monday, giving buyers some relief after the recent rally that pushed rates close to record highs.
The fall was visible in both domestic futures and retail markets, with many investors booking profits after last week’s surge. The correction also comes just after Akshaya Tritiya, when high prices had kept many jewellery buyers cautious.
On the Multi Commodity Exchange (MCX), gold futures for the May contract were trading at Rs 1,51,410 per 10 grams at around 9:20 am, down Rs 1,766 or 1.15%. Silver May futures were at Rs 2,52,304 per kg, lower by Rs 4,838 or nearly Rs 5,000, down 1.88%.
In the retail market, prices also eased but remained elevated. Gold was quoted at around Rs 1,55,790 per 10 grams for 24-carat purity, while silver was near Rs 2,74,900 per kg in major cities.
Fresh city-wise updates also showed 24-carat gold in Mumbai at around Rs 1,52,960 per 10 grams.
The main reason for the fall is profit-booking after the recent spike in prices. Gold and silver had rallied strongly in recent sessions, and traders often sell after a sharp rise to lock in gains.
Global cues also added pressure. Reuters reported that gold prices fell internationally as the US dollar strengthened, making gold more expensive for overseas buyers. Rising bond yields and inflation concerns linked to fresh tensions in West Asia also hurt sentiment.
Silver saw a steeper decline because it tends to be more volatile than gold and often reacts faster when traders cut risky positions.
The timing is important for Indian buyers. Just a day after Akshaya Tritiya, Reuters reported that festival demand was subdued in many regions because record-high prices discouraged jewellery purchases. Many buyers preferred coins and lightweight jewellery instead.
So, should you buy now?
Analysts say this looks more like a temporary correction than a full reversal. Prices are still high compared with earlier months, and global uncertainty continues to support demand for safe-haven assets such as gold.
For jewellery buyers, small dips like this can be an opportunity to buy gradually instead of waiting for a major crash. For investors, staggered buying may be smarter than making one large purchase at current levels.
The key takeaway is simple: gold has become cheaper today, but prices are still expensive overall. Whether you buy now or wait depends on your need and time horizon.
