Gold Silver Prices Fall Amid Dollar Rally and Oil Surge

Friday brought more pain for gold and silver investors as prices tumbled nearly 0.5% at the MCX open, driven by a resurgent dollar and geopolitical jitters. The downturn reflects broader market dynamics playing out worldwide. Gold June 2026 contracts debuted at 1,51,167 rupees, down from 1,51,761 rupees. By 9:40 AM, it was at 1,51,043 rupees—a 0.47% drop of 718 rupees. Intraday, it hit 1,51,039 rupees low and 1,51,457 rupees high. Silver May 2026 futures opened at 2,39,200 rupees from 2,41,513 rupees. Trading at 2,40,671 rupees, it shed 0.35% or 842 rupees, swinging between 2,39,200 rupees and 2,41,382 rupees. Comex mirrored the slide: gold down 0.83% to 4,684 dollars/oz, silver off 0.92% at 74.81 dollars/oz. Expert insight from Motilal Oswal's Manav Modi highlights a strong dollar, elevated yields, and Middle East volatility as key bears. 'Oil's climb above 100 dollars/barrel heightens inflation worries, pressuring safe havens,' he said. Robust US PMI data underscored economic strength, dialing back Fed rate cut expectations and boosting the dollar further. Looking ahead, central bank purchases and ETF inflows could provide support. However, sustained dollar gains pose risks. Technical charts show gold testing 50-day moving average support. Silver's momentum indicators flash oversold signals, hinting at possible rebound. Domestic traders note steady jewelry buying ahead of wedding season, which might stabilize prices. Investors are advised to diversify and avoid aggressive bets in this uncertain environment. Key data releases this week, including US jobs report, will be pivotal.