Gold Price on April 24, 2026: Yellow Metal Falls in India, Silver Drops Over 1%

Gold and silver prices fell in the Indian market on Friday, April 24, with a notable drop in silver. Compared to the previous session, silver prices fell by more than 1%. The sharp rise in crude oil prices, higher bond yields, and a strengthening US dollar are seen as the key reasons behind the decline.

Gold and Silver Prices On MCX

On the Multi Commodity Exchange (MCX), silver prices dropped by over 1% today, or more than Rs 2,300, to Rs 2,39,200 per kg. Gold prices also declined by 0.4%, or over Rs 600, to Rs 2,41,513 per 10 grams.

In the international market, spot silver was trading 0.3 per cent lower at $75.22 an ounce, while spot gold slipped 0.1 per cent to $4,686.29 an ounce. Gold prices have fallen about 3 per cent so far this week, snapping a four-week rally. US gold futures were also down 0.5 per cent at $4,702.

Crude Oil Impact

Brent crude prices have surged more than 17% this week, crossing $105 per barrel. Despite an extension in the Iran ceasefire, the Strait of Hormuz, a key global oil supply route, remains largely disrupted. This could increase transportation and production costs, raising inflationary pressure and potentially leading to higher interest rates over a longer period. Such conditions tend to weigh on non-interest-bearing assets like gold and silver.

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The US dollar has strengthened by 0.7% this week, making gold and silver more expensive for holders of other currencies. Additionally, the US 10-year Treasury yield has risen above 2%, prompting a shift in investor sentiment.

Experts say that as long as geopolitical uncertainty persists and oil prices remain elevated, gold and silver are likely to stay volatile. While both metals are still considered safe long-term investments, short-term investors are advised to remain cautious.