Gold and silver are set to break a streak of gains, with gold on track for its steepest quarterly fall in a decade and silver headed for its worst showing in four years.
Gold has lost nearly 12 percent so far in the June quarter, while silver has slipped 17.6 percent, marking its sharpest fall since June 2022. The decline appears even starker when compared to record highs: gold, which touched an all-time peak of $5417 an ounce, has since declined 24 percent, while silver, which hit a record high of $117 an ounce on January 28, has fallen around 47 percent.
The decline comes after a dream run for both metals over the past two years: gold rose 10 percent between January and March 2026, having surged over 65 percent in 2025 and 28 percent in 2024, while silver climbed 28 percent between January and February 2026, following gains of 148 percent in 2025 and 22 percent in 2024.
The slide has continued even after the United States, Iran and Israel signed a deal, as the broader Middle East conflict had initially pushed energy prices higher and stoked expectations of tighter monetary policy. At its most recent rate-setting meeting, Federal Reserve officials kept policy unchanged but signalled growing support for rate hikes, while new Fed Chairman Kevin Warsh vowed to restore price stability.
Current prices
Currently gold 24K is trending at Rs. 1,45,400 per 10g, 22K at Rs. 1,33,283 per 10g while as silver is trending at Rs. 2,26,800 for 1 kg.
Precious metals prices have risen sharply over the past few years. In 2020, 10g of gold cost just Rs.50,000 then rose to Rs.75,000 in 2024 and then breached Rs.1.59 lakh in 2026.
