Stories
Gold and Silver Prices Slip: Key Factors and Important Levels to Watch
C
CNBC TV18•07-10-2026, 07:48
Gold and Silver Prices Slip: Key Factors and Important Levels to Watch
- •Gold and silver prices traded lower in international markets on Wednesday, driven by a stronger US dollar and elevated US Treasury yields.
- •COMEX gold declined 0.31 percent to $4,174.30 an ounce, while COMEX silver dropped 0.47 percent to $61.30 an ounce.
- •Domestic gold prices fell by ₹200 to ₹1.49 lakh per 10 grams, while silver remained steady at ₹2.27 lakh per kg alongside subdued retail demand during Pitru Paksha.
- •Market experts note that silver has broken below its head-and-shoulders neckline, eyeing $57 an ounce as the next critical support level.
- •Investors are closely monitoring US economic data, Federal Reserve rate expectations, bond yields, and geopolitical developments in West Asia for future price direction.
Key Questions Answered
A stronger US dollar and elevated US Treasury yields have been putting downward pressure on precious metals because gold does not generate interest income and a stronger dollar makes dollar-denominated commodities more expensive for buyers holding other currencies, though softer US jobs data has provided some relief.
Gold needs to hold the key $4,100-per-ounce level, which equates to roughly ₹1.48 lakh per 10 grams, as a sustained break below it could bring $4,000 an ounce, or around ₹1.44 lakh per 10 grams, into focus.
Silver has come under pressure after breaking below its head-and-shoulders neckline and reaching the $60 an ounce target, with $57 an ounce identified as the next level to watch.
