Gold Rate, Silver Rate Today (21-04-2026): Why MCX Gold Price, Spot Gold, MCX Silver Price Are Falling Today?

Gold rates and silver rates are under pressure both in India and in the global market. Investors are trading cautiously in precious metals despite crude oil prices dropping by 1% to 2%. While the sentiments are driven over geopolitical development between US and Iran, the long term impact of the US-Israel-Iran war is yet to play out. Gold has fallen by 8-10% and silver has dropped by at least 15% since the war began. The US Federal Reserve is expected to hold rates throughout of 2026, while inflation remains elevated. The shocks of energy crisis remains.

MCX Gold Price + MCX Silver Price

MCX gold price is trading cautiously in the early deals of Tuesday. At the time of writing, MCX Gold stood at Rs 1,53,850 per 10 grams, down by Rs 93 or 0.06%. The bullion is between its intraday low of Rs 1,53,725 per 10 grams to intraday high of Rs 1,53,992 per 10 grams.

On the other hand, MCX silver underperformed gold in the early trade of Tuesday. At the time of writing, MCX silver is down by 0.61% or by Rs 1,545 to trade at Rs 2.51 lakh. In the opening bell, silver touched an intraday low of Rs 2,50,210 per 1Kg and an intraday high of Rs 2,51,222 per 1Kg.

Spot Gold + Spot Silver Price

Spot gold has reversed its early gains to trade below ,800. At the time of writing, spot gold traded down by 0.5% to ,797 per ounce. Gold is broadly under pressure as investors await for development between US and Iran's negotiations.

It is reported that JD Vance is likely to visit Pakistan once again, to meet Iranian negotiators. On the other hand, US President Donald Trump has emphasized that US will not extend the 2-week temporary peace if no mutual agreement is met during the second round of talks. The US wants Iran to give up their stubborn nuclear weapon dream, and Iran does not wish to do that.

Additionally, Spot silver is trading cautiously. After steadying around 80 mark, spot silver is down by 1% to trade at .9 per ounce level. Silver has plunged by at least 15% since the US-Israel-Iran war.

What Is Impacting Gold & Silver Rates Today?

As per Kaynat Chainwala, AVP Commodity Research, Kotak Securities, bullion came under pressure against this backdrop. Spot gold slipped below $4,740/oz and silver fell below $79/oz earlier in the session as the dollar firmed above 98.3, with crude's surge stoking renewed fears of an energy‑driven inflation shock.

Explaining in detail, the analyst said, these concerns are weighing on rate‑cut expectations, which in turn limits the scope for a meaningful rally in non‑yielding assets in the near term. The week ahead offers several catalysts. U.S. retail sales, pending home sales and weekly jobless claims will be parsed for signals on consumer resilience, while flash PMI readings across major economies will test the growth narrative. Overarching all of this will be Tuesday's congressional testimony from incoming Fed Chair Kevin Warsh, his first since nomination, where markets will be listening closely for early signals on his policy stance and the Fed's tolerance for energy‑driven inflationary pressure.

Nonetheless, the primary driver is likely to remain the evolving U.S.-Iran standoff, with any material escalation expected to exert additional downward pressure on bullion prices.

Gold Rates & Silver Rates Outlook:

As per Ponmudi R, CEO of Enrich Money, here are the outlook for gold and silver in India and globally:

Spot Gold Price Outlook

COMEX Gold opened on a steady note and is now consolidating above $4,800 range, holding above key moving averages, though buying interest is emerging at lower levels, it still requires confirmation.

A decisive break below $4,800 could lead to some weakness toward $4,720-$4,700 and further to $4,650-$4,600. On the upside, a sustained move above $4,900 may strengthen momentum and push prices toward $4,970-$5,000, with potential extension to $5,100. Overall, the structure remains cautious, with support levels holding firm, while further upside depends on a decisive breakout above resistance levels.

MCX Gold Price Outlook

MCX Gold is trading within Rs1,53,500-Rs1,54,000 range with emerging buying interest at lower levels. A sustained move above Rs1,55,000 could revive momentum toward Rs1,57,000-Rs1,58,000. On the downside, a break below Rs1,53,000 may lead to a corrective move toward Rs1,51,000-Rs1,50,000 and further to Rs1,48,000.

The bias remains cautious, with macro factors offering limited support; however, failure to break above resistance levels may keep momentum weak and tilt the trend further to the downside.

Spot Silver Price Outlook

Silver is trading above $79 level, reflecting a gradually weakening undertone, with price action showing limited strength amid persistent volatility driven by geopolitical tensions.

A sustained move above $80-$81 may help strengthen momentum and extend prices toward the $85-$87 range. However, a break below $78 could still trigger downside pressure toward the $76-$75 zone with stronger support at $72-$70.

MCX Silver Price Outlook

MCX Silver opened with a mild gap down and is currently hovering above Rs2,51,000, with safe-haven demand and strength in industrial metals offering only limited support amid elevated volatility, as geopolitical tensions continue to weigh on sentiment.

Resistance is placed at Rs2,55,000-Rs2,60,000, with further upside toward Rs2,68,000-Rs2,70,000. A sustained move above these levels could strengthen momentum and support further gains. On the downside, a break below Rs2,48,000 may lead to a corrective move toward the Rs2,44,000-Rs2,40,000 range.

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