Gold and silver prices in India dropped sharply on the Multi Commodity Exchange (MCX) on Friday, June 19, 2026. The MCX gold rate for August futures contracts opened lower by ₹2,134, or 1.43%, at ₹1,47,175 per 10 grams compared to the previous close. Silver prices also plunged by ₹6,000 per kilogram, reflecting a significant decline in precious metal rates domestically.
The decline in Indian gold and silver prices followed a weak trend in the global bullion market. US gold futures for August delivery fell 1% to $4,202.10, marking a third consecutive weekly decline. The downward pressure was attributed to a stronger US dollar and hawkish signals from the US Federal Reserve, which raised expectations of higher interest rates. These factors weighed on investor demand for precious metals worldwide, influencing the MCX prices.
This price movement highlights the sensitivity of Indian precious metal markets to global economic cues, especially US monetary policy and currency strength. The fall in gold and silver prices comes amid ongoing concerns about inflation and interest rate hikes. The current MCX gold rate near ₹1.47 lakh per 10 grams is a notable drop from previous levels, impacting jewelers, investors, and consumers. The silver price crash by ₹6,000 per kg is one of the steepest declines in recent months.
The next key data point for the market will be the US Federal Reserve’s upcoming policy meeting, which investors will watch closely for further guidance on interest rates. Meanwhile, MCX gold and silver prices remain volatile, reflecting global economic uncertainties and currency fluctuations.