Gold, silver prices today: Yellow metal hits 3-month low, silver drops 50% as crude surge deepens bullion sell-off

Precious metal investors faced deeper losses on Thursday as gold fell to a three-month low and silver plunged nearly 50 per cent from its record high at the beginning of this year. Rising crude oil prices continued to put pressure on bullion markets.

Gold of 99.9 per cent purity declined by ₹1,000 in the national capital, while silver fell by ₹5,900 per kilogram. In overseas markets, both metals traded lower as higher crude prices revived inflation concerns and strengthened expectations that central banks would keep interest rates elevated for longer.

Gold falls to ₹1.48 lakh per 10 grams

According to the All India Sarafa Association, gold of 99.9 per cent purity fell to ₹1.48 lakh per 10 grams from Wednesday's closing level of ₹1.49 lakh per 10 grams. Gold was last traded around this level on July 30.

"Gold continued its weak trend in the domestic markets on Thursday as sentiment remains under pressure amid concerns over the West Asia conflict," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, told PTI.

Silver tumbles ₹5,900 per kilogram

Silver bore the brunt of the sell-off, tumbling by ₹5,900 to ₹2,07,500 per kilogram, inclusive of all taxes, from its previous close of ₹2,13,400 per kg. The white metal was last seen around this level on December 18, 2025.

Silver hit a 10-month low after declining by ₹31,500, or 13.18 per cent, from its December 31 level of ₹2.39 lakh per kg. It has tumbled by ₹1.97 lakh per kg, or 48.70 per cent, from its all-time high of ₹4,04,500 per kg on January 29 this year.

Gold slips below $4,100 in global markets

In global markets, spot gold slipped below $4,100 per ounce, declining by $68.98, or nearly 1.7 per cent, to $4,072.30 per ounce. Silver dropped nearly 4 per cent to $55.72 per ounce.

Ashish Rajodiya, Head of Commodities at PL Capital, said bullion prices in overseas markets traded lower as Brent crude oil surged towards $112 per barrel. The rise revived inflation concerns and strengthened expectations that central banks would keep interest rates elevated for longer.

Rajodiya said silver witnessed a steeper correction because of its higher volatility. Hawkish signals from the US Federal Reserve continued to weigh on both metals, while an easing in crude prices and US-Iran tensions would give bullion room to recover.

Investors await US Fed decision and inflation data

Gaurav Garg, Head of Research at brokerage platform Lemonn, said investors were watching the US Federal Reserve's October 27-28 monetary policy decision and upcoming US inflation data for fresh direction.

Meanwhile, the rupee was trading around 94.56 against the US dollar, supported by foreign inflows and RBI measures. However, elevated crude oil prices remain crucial for India's import bill and inflation outlook, Garg said.

Gold and silver thus extended their decline in domestic and global markets, with high crude oil prices, inflation concerns, expectations of elevated interest rates and tensions in West Asia continuing to influence bullion prices.