Gold, Silver Rate Today Live Updates: Gold prices on track for weekly decline as oil prices continue to rise
Gold and silver began Friday’s session on a weak note on the Multi Commodity Exchange of India, with prices declining sharply as crude oil rallied toward the $110-per-barrel mark. The jump in oil prices renewed concerns over inflation and strengthened expectations that interest rates could remain elevated for a longer period.
Market sentiment was further unsettled after Iran released video footage showing commandos boarding a cargo ship in the Strait of Hormuz. Reports that Iranian air defence systems had engaged what officials described as “hostile targets” added to the geopolitical tension.
In domestic trading, MCX silver futures for May 2026 delivery dropped by Rs 2,300, or 1 per cent, to Rs 2,39,200 per kilogram.
Gold futures for June 2026 delivery also moved lower, falling Rs 600, or 0.4 per cent, to Rs 1,51,159 per 10 grams.
In the previous trading session, both precious metals had ended with modest gains of 0.25 per cent each.
