After a wild mid-week rally, gold and silver prices eased on Thursday, after analysts’ confidence that optimism in the market was dampened by deep skepticism regarding the tenuous United States-Iran-Israel two-week truce over the 2022-23 hostilities. While the truce promised to offer initial comfort, news that hostilities inside Lebanon might not cease and ongoing unrest in the Strait of Hormuz is blocking trade has fueled speculation of profit booking.
Market Statistics At Home: MCX and Retail
The price of these precious metals both suffered major correction on our MCX and local retail markets on April 9, 2026, as well.
Gold Prices:
- MCX Gold: ₹1,51,216/10 grams, down ₹560. Retail (24 carat): A slipped ₹450 to ₹1,52,340/10 grams. Silver Prices:
- MCX Silver: Profound fall of ₹3,225, at ₹2,36,693 a kg. Retail Silver : declined ₹3,570 to ₹2,37,190/kg.
Global Spot Market Trends
That weakness was noticeable in international markets whose so-called “safe-haven” premium is beginning to slip slightly.
- Spot Gold: About $4,720.86, 0.64 percent lower.
- Spot Silver: With worse pressure also, at $74.12 per ounce, down 1.60 percent.
The Market Outlook - What Is Price Fall For?
Geopolitical uncertainty and as economic indicators have changed have contributed to the downfall, according to a report by Kedia Advisory Group.
Gold: Stable in the Midst of Instability
Gold soared 3.3% after the ceasefire declaration but wiped out those gains on Thursday. Despite the truce, reported halts of oil tankers and military invasions in Lebanon have created concerns for investors. The higher U.S. Dollar and climbing bond yields have also taken a toll on the yellow metal, which has become more expensive for holders of alternative currencies and less enticing to non-yielding assets.
Silver is Suffering From Industrial And Risk Pressures
Silver’s journey was far more dramatic, diving 6.3% on Wednesday and then plummeting. The advisory group noted that the “risk-on” mood in global equities had been reflected in booking profits on silver. The prospect of the Strait of Hormuz opening yet again, meanwhile, has provided some respite to the energy market, although the revival in oil prices and a firmer dollar have contained further upside for the metal.
Technical Analysis
Until there is firm proof that the ceasefire is in place and the Strait of Hormuz is permanently open financial experts say the metals will remain part of the trade with extreme volatility. So far, the appetite for the “safe-haven” is being subdued, in part because of a heightened risk appetite in the stock markets.
