Bullion futures plummet to fresh lows

Gold prices plummeted sharply by more than 10 per cent to Rs1.29 lakh per 10 grams in futures trade amid a global sell-off in precious metals driven by macroeconomic pressures.

The yellow metal dived by Rs14,897. The yellow metal has now declined by Rs63,501, or nearly 33 per cent, from its all-time high of Rs1,93,096 per 10 grams recorded on January 29, 2026. Silver prices nosedived to hit their lower circuit in futures trade on Monday, tumbling by Rs20,409 to Rs2.06 lakh per kilogram amid weak global trends and sustained selling pressure.

On the Multi Commodity Exchange, silver for May delivery slumped Rs20,409, or 9 per cent, to Rs2,06,363 per kilogram, its lower circuit limit.

Analysts said the sharp fall came despite escalating tensions in West Asia, as broader macroeconomic factors weighed heavily on precious metal prices. Analysts said the sharp fall in bullion futures was triggered by rising inflation fears and a surge in crude oil prices, which have clouded the global economic outlook.