Gold Prices Fall Sharply: Gold Down ₹36,000 in 2026, Silver Drops 43%

Gold prices continued to fall on July 1, extending a sharp decline that has seen the precious metal become nearly ₹36,000 cheaper from its record high in 2026. Silver has fallen even more, losing about 43% of its value from its peak.

Gold has recorded its biggest monthly decline since October 2008, making it one of the largest price corrections in nearly 18 years.

In the international market, COMEX gold fell by more than $22 to around $3,985 per ounce, after opening at $4,005.69. This pushed gold prices below the important $4,000 per ounce level.

In India, MCX gold reached a record ₹1.92 lakh per 10 grams at the beginning of 2026. Since then, prices have steadily fallen. In June alone, gold became nearly ₹19,700 cheaper, falling from around ₹1.60 lakh to ₹1.40 lakh per 10 grams by the end of the month.

Since its peak on January 29, gold prices have dropped by nearly 20%, while silver prices have fallen by around 43%.

Experts say the fall is mainly due to expectations of higher interest rates in the United States. Rising oil prices have increased inflation concerns, and investors believe the U.S. Federal Reserve may keep interest rates high under the leadership of Kevin Warsh. A stronger U.S. dollar has also reduced demand for gold.

Many investors are also moving their money from gold into other investments, adding more pressure on gold and silver prices.

Disclaimer: The information provided in this article is for general informational purposes only. While we endeavor to keep the information up to date and correct, News Setu makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability of the content. Any reliance you place on such information is strictly at your own risk.