Gold and silver prices witnessed a decline on the Multi Commodity Exchange (MCX) on April 27, 2026, amid a rise in crude oil prices and profit booking by investors. The precious metals faced selling pressure as traders opted to book profits after recent gains.
Gold Prices Slip
Gold futures for June 2026 delivery on MCX fell by 0.4% to Rs 72,350 per 10 grams, while silver futures for May 2026 dropped 0.6% to Rs 85,200 per kilogram. The decline was attributed to a stronger dollar and higher bond yields, which reduced the appeal of non-yielding assets like gold.
Impact of Crude Oil Prices
Crude oil prices surged over 2% on supply concerns, which dampened investor sentiment for precious metals. Rising oil prices typically lead to inflation fears, but the immediate impact on gold and silver was negative due to profit booking.
City-Wise Gold Rates (April 27, 2026)
- New Delhi: 22K gold at Rs 71,200/10g, 24K gold at Rs 72,500/10g
- Mumbai: 22K gold at Rs 71,100/10g, 24K gold at Rs 72,400/10g
- Chennai: 22K gold at Rs 71,300/10g, 24K gold at Rs 72,600/10g
- Kolkata: 22K gold at Rs 71,150/10g, 24K gold at Rs 72,450/10g
City-Wise Silver Rates
- New Delhi: Rs 85,500/kg
- Mumbai: Rs 85,200/kg
- Chennai: Rs 85,800/kg
- Kolkata: Rs 85,300/kg
Market analysts suggest that gold and silver may remain volatile in the near term due to global economic uncertainties and fluctuating crude oil prices. Investors are advised to monitor international cues and domestic demand before making investment decisions.
