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Why gold and silver prices dropped in India todayGold and silver prices fell on MCX and Comex amid US tariff uncertainty. Aksha Kamboj of IBJA notes hedging demand persists. EU halted trade pact, India deferred talks with Washington.By Anshul  February 24, 2026, 1:45:28 PM IST (Updated)2 Min ReadGold and silver prices edged lower on the Multi Commodity Exchange (MCX) on Tuesday (February 24), tracking global cues and lingering uncertainty over US tariffs.

April gold futures fell 0.31% or ₹496 to trade at ₹1.61 lakh per 10 grams, with a turnover of 7,587 lots. Silver for the same delivery slipped 0.27% to around ₹2.63 lakh per kilogram.

In international markets, Comex gold futures for April delivery declined $28.16, or 0.54%, to $5,197.44 per ounce, as investors booked profits following a four-session rally fueled by US trade policy uncertainty and tensions in the Middle East.

According to Aksha Kamboj, Vice President of the India Bullion & Jewellers Association (IBJA) and Executive Chairperson at Aspect Global Ventures, gold remains supported by hedging demand amid fiscal and geopolitical risks, while silver is witnessing a modest recovery as industrial demand improves.

She noted that short-term volatility is expected to persist, particularly in silver, but the trend suggests renewed buying interest among investors.

The pullback in bullion follows renewed US tariff action.

Last week, the US Supreme Court blocked several levies imposed under the Trump administration, prompting President Donald Trump to announce a new 10% tariff effective Tuesday, with a warning that it could rise to 15%. The move has led other countries to reassess trade agreements, with the European Union halting ratification of its trade pact and India deferring discussions with Washington.

Kotak Securities said, “Gold slipped below $5,200 an ounce as investors booked profits after the recent rally. Despite the decline, bullion remains underpinned by safe-haven and hedging demand, while markets await key US confidence and manufacturing data.”

Analysts expect gold and silver prices to remain sensitive to developments in US trade policy, global economic indicators, and geopolitical tensions.

-With agencies inputsContinue ReadingNote To ReadersDisclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers should consult certified experts before making any investment decisions.First Published: Feb 24, 2026 1:44 PM ISTTagsgoldGold Pricesgold ratessilversilver prices