Precious Metals Slump On MCX as Silver Tumbles Rs 6661 and Gold Drops Rs 3214 Gold and silver futures witnessed aggressive selling pressure on Monday, with silver dropping over 2.50 percent and gold retreating by more than 1.70 percent on MCX. Precious metals faced intense downward momentum during the opening trading session of the week on Monday, 28 September, 2026. Both gold and silver contracts came under sustained selling pressure on the Multi Commodity Exchange, commonly known as MCX. While gold futures shed over 1.70 percent in value, silver witnessed an even steeper retreat, tumbling more than 2.50 percent as market participants unwound long positions across the board following a weak closing in the prior week. Gold Contracts Tumble up to Rs 3214 per 10 Grams Around 10.25 am on Monday, the benchmark 5 October delivery gold contract on MCX was changing hands at Rs 1,48,285 per 10 grams, recording a steep drop of Rs 2596, or 1.72 percent. The session began on a negative note as gold opened lower by Rs 781 at Rs 1,50,100 per 10 grams, compared to the previous week's closing price of Rs 1,50,881 per 10 grams recorded on Friday. The opening quote of Rs 1,50,100 per 10 grams remained the intraday high for the session as sustained bears pushed the bullion lower. Prices subsequently descended to an intraday low of Rs 1,47,667 per 10 grams. Measured against Friday's settlement level, the yellow metal logged an intraday slide of up to Rs 3214 per 10 grams, underlining the sheer scale of the ongoing pullback. Silver Sees Deep Cuts, Sliding Rs 6661 per Kilogram Industrial and precious metal silver suffered an even harsher correction during Monday's trading. The December 4 delivery silver contract on MCX was trading at Rs 2,28,658 per kilogram, registering a sharp reduction of Rs 6038, or 0.2.57 percent. Trading for the metal kicked off with an opening loss of Rs 2396 at Rs 2,32,300 per kilogram, having settled at Rs 2,34,696 per kilogram in the previous session on Friday. As the session unfolded, the opening level of Rs 2,32,300 proved to be the day's peak, from which selling intensified to drag prices down to an intraday trough of Rs 2,28,035 per kilogram. When juxtaposed against the closing level seen on Friday, silver's cumulative intraday decline stretched to as much as Rs 6661 per kilogram. Experts Forecast Heightened Volatility to Persist Commodity market analysts highlighted that heightened price swings in both precious metals are likely to persist throughout the ongoing week. Multiple macro and geopolitical drivers are currently influencing trading desks globally. Crucial economic data prints originating from the United States, continuing friction and tensions in West Asia, and fluctuating crude oil prices remain pivotal elements that could dictate near-term price discovery in bullion assets. Consecutive Selling Extends Last Week's Deep Losses Monday's downturn represents a continuation of the weakness observed during the preceding week. In the prior trading week, MCX October delivery gold had recorded a loss of Rs 3500, or approximately 2.3 percent, to close at Rs 1.50 lakh per 10 grams. Similarly, silver had shed Rs 6907, representing a slide of roughly 3 percent, to finish at Rs 2.34 lakh per kilogram. The back-to-back pressure highlights an extended phase of consolidation across the precious metals space. What this means for you The steep slide in domestic futures prices will directly impact retail procurement costs as well as margin requirements for derivatives market participants. • Jewellery Buyers: Retail prices for gold and silver ornaments are likely to mirror this correction across physical markets. Prospective buyers preparing for upcoming functions can benefit from temporarily softer acquisition costs. • Commodity Traders: High intraday volatility elevates drawdown risks for open leveraged long positions. Traders should observe strict stop-loss protocols in light of upcoming US economic releases and geopolitical headlines. • ETF and Fund Investors: Net asset values of precious metal investment funds will experience mild downward adjustments in the short term. Long-term accumulators can evaluate these lower levels for disciplined periodic allocations. • Industrial Silver Consumers: The drop of more than Rs 6600 per kilogram eases raw material input expenses for manufacturers. Industrial enterprises reliant on silver components can assess hedging opportunities around current levels. Why this happened The contraction in precious metal values stems from a combination of ongoing position unwinding and broader macroeconomic uncertainties weighing on trading sentiment. • Macro Data and Geopolitical Cues: Commodity market experts point to forthcoming US economic indicators and simmering West Asia frictions as primary market drivers. Coupled with shifts in crude oil pricing, these factors prompted traders to take money off the table in safe-haven assets. • Continuation of Weekly Losses: Monday's retreat builds upon established bearish momentum from the prior trading week. Last week, gold had declined by Rs 3500 while silver retreated by Rs 6907, setting up immediate downward pressure at Monday's market open. • Long Unwinding on Futures Contracts: Technical selling gripped the October 5 gold and December 4 silver contracts right from the opening bell. Intraday levels failed to push past opening prices, triggering accelerated stop-loss triggers that carried prices to multi-day session lows. Questions & Answers 1. How much did gold prices fall on Monday? On Monday, MCX gold for October 5 delivery dropped by as much as Rs 3214 from Friday's close to hit an intraday low of Rs 1,47,667 per 10 grams. 2. What was the extent of the decline in silver prices? MCX silver for December 4 delivery slid by up to Rs 6661 compared to Friday's settlement, touching an intraday low of Rs 2,28,035 per kilogram. 3. How did bullion perform in the previous trading week? During the previous week, gold had dropped Rs 3500 to settle at Rs 1.50 lakh per 10 grams, while silver fell Rs 6907 to close at Rs 2.34 lakh per kilogram. 4. Which market drivers are expected to influence bullion this week? Commodity market experts noted that upcoming US economic indicators, tensions in West Asia, and movements in crude oil prices will steer precious metal trends. https://trendkia.com/en/business/vayada-bajara-men-kimati-dhatuon-para-bhari-dabava-silver-6661-rupaye-aura-gold-3214-rupaye-taka-phisala-40642 TrendKia — Har trend, sabse pehle.