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Gold and Silver Prices Plummet: What's Driving the Drop?
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News18•28-09-2026, 10:40
Gold and Silver Prices Plummet: What's Driving the Drop?
- •Comex gold and silver prices fell significantly on Monday, September 28, 2026.
- •MCX gold dropped by ₹2,900 per 10 grams, and silver by ₹6,300 per kg.
- •24-carat gold is now ₹15,407 per gram, a ₹251 decrease from the previous day.
- •Anticipation of US interest rate hikes and a strong dollar are key factors pressuring prices.
- •Both gold and silver also saw price declines last week.
Key Questions Answered
On September 28, 2026, Comex gold fell by 1.57% to $4,253.40 per ounce and silver fell by 2.76% to $63.01 per ounce. In the domestic market, gold dropped by ₹2,900 to reach ₹1,48,156 per 10 grams, while silver fell by ₹6,300 to ₹2,28,788 per kg.
The downward pressure on precious metals is driven by shifting expectations that the US Federal Reserve might raise interest rates in October, alongside rising US Treasury yields and a strong US dollar index reaching near two-month highs.
Following the reduction, 24-carat gold was priced at ₹15,407 per gram (amounting to ₹1,50,170 per 10 grams), while 22-carat gold stood at ₹13,765 per gram.
