For many current gold and silver investors, the drop in prices of these precious metals in June might not be the best news. However, the same price drop could entice new buyers who have been waiting for the right moment. The gold price on the Multi Commodity Exchange of India (MCX) has decreased by Rs 15,000 per 10 grams, which is a 9.73% drop since June 1.
Similarly, silver has seen a decline of nearly Rs 45,000 per kg or 17% in the same period. Investing at these lower prices could be beneficial for new investors, as any recovery from this point would work in their favour. Still, there’s always a chance that prices could fall further. So, what should new investors do? And what about the existing investors? Will they witness a recovery in their investments or will further declines add to their concerns?
Daily and overall changes in gold price on MCX (Since June 1, 2026)
| Date | Spot Price (₹/10 gm) | Daily Change (₹) | Total Impact Since June 1 (₹) |
| 01-Jun-26 | 1,54,908 | — | 0 |
| 02-Jun-26 | 1,56,113 | 1,205 | 1,205 |
| 03-Jun-26 | 1,54,529 | -1,584 | -379 |
| 04-Jun-26 | 1,55,392 | 863 | 484 |
| 05-Jun-26 | 1,53,959 | -1,433 | -949 |
| 08-Jun-26 | 1,50,235 | -3,724 | -4,673 |
| 09-Jun-26 | 1,51,747 | 1,512 | -3,161 |
| 10-Jun-26 | 1,46,695 | -5,052 | -8,213 |
| 11-Jun-26 | 1,44,730 | -1,965 | -10,178 |
| 12-Jun-26 | 1,47,367 | 2,637 | -7,541 |
| 15-Jun-26 | 1,50,133 | 2,766 | -4,775 |
| 16-Jun-26 | 1,50,192 | 59 | -4,716 |
| 17-Jun-26 | 1,49,738 | -454 | -5,170 |
| 18-Jun-26 | 1,47,677 | -2,061 | -7,231 |
| 19-Jun-26 | 1,44,606 | -3,071 | -10,302 |
| 22-Jun-26 | 1,46,740 | 2,134 | -8,168 |
| 23-Jun-26 | 1,44,323 | -2,417 | -10,585 |
| 24-Jun-26 | 1,42,512 | -1,811 | -12,396 |
| 25-Jun-26 | 1,39,843 | -2,669 | -15,065 |
Daily and overall changes in silver price on MCX (Since June 1, 2026)
| Date | Spot Price (₹/kg) | Daily Change (₹) | Total Impact Since June 1 (₹) |
| 01-Jun-26 | 2,63,458 | — | 0 |
| 02-Jun-26 | 2,65,504 | 2,046 | 2,046 |
| 03-Jun-26 | 2,61,939 | -3,565 | -1,519 |
| 04-Jun-26 | 2,60,255 | -1,684 | -3,203 |
| 05-Jun-26 | 2,57,129 | -3,126 | -6,329 |
| 08-Jun-26 | 2,41,617 | -15,512 | -21,841 |
| 09-Jun-26 | 2,45,657 | 4,040 | -17,801 |
| 10-Jun-26 | 2,33,648 | -12,009 | -29,810 |
| 11-Jun-26 | 2,33,231 | -417 | -30,227 |
| 12-Jun-26 | 2,41,306 | 8,075 | -22,152 |
| 15-Jun-26 | 2,51,327 | 10,021 | -12,131 |
| 16-Jun-26 | 2,49,333 | -1,994 | -14,125 |
| 17-Jun-26 | 2,47,576 | -1,757 | -15,882 |
| 18-Jun-26 | 2,41,330 | -6,246 | -22,128 |
| 19-Jun-26 | 2,31,829 | -9,501 | -31,629 |
| 22-Jun-26 | 2,37,793 | 5,964 | -25,665 |
| 23-Jun-26 | 2,27,482 | -10,311 | -35,976 |
| 24-Jun-26 | 2,23,754 | -3,728 | -39,704 |
| 25-Jun-26 | 2,18,680 | -5,074 | -44,778 |
Vedika Narvekar, research analyst, Anand Rathi Share and Stock Brokers, told ET Wealth Online that gold and silver prices have fallen sharply over the past week following the hawkish guidance given by the US’ Federal Reserve.
According to Narvekar, Federal Reserve policymakers have signalled growing support for higher interest rates, with new Chair Kevin Warsh adopting a hawkish tone at his first rate-setting meeting last week.
“Expectations of tighter monetary policy have strengthened the U.S. dollar and pushed bond yields higher, making bullion less attractive,” says Narvekar.
From their all-time highs in January 2026, gold is down nearly 29% below the $4,000 level, while silver has declined by more than 50% and is hovering around $57/oz.
On the MCX, however, the extent of the decline has been less, with gold and silver falling by 22% and 49%, respectively, largely due to an increase in import duties, says Narvekar.
Prithviraj Kothari, managing director at RiddiSiddhi Bullions Ltd., and president of India Bullion and Jewellers Association Ltd. (IBJA), told ET Wealth Online that other than the Federal Reserve’s hawkish stance, the unwinding of yen carry trades, as USDJPY slides to a 40-year low on rising Japanese interest rates, is generating a ripple -effect selling across safe-haven assets.
“That hawkish repricing, combined with the dollar trading at 13-month highs and softening inflation expectations, is placing heavy and concurrent pressure on precious metals,” says Kothari.
How soon can gold and silver prices recover from here?
Kothari says precious metal price recovery will depend on the US dollar’s price direction and Fed signals.
Once rate hike fears peak, both metals should stabilise and gradually recover, opines Kothari.
Is it the right time to invest in gold and silver?
Kothari says current gold and silver price levels represent a meaningful accumulation opportunity for patient and long-term investors as both metals are available well below their January 2026 all-time highs, and dollar-cost averaging at these levels will lower their average purchase.
Kothari advises investors to follow a staggered SIP-based approach across both the precious metals.
Narvekar’s advice for long-term investors in gold is to accumulate gradually on dips, particularly near key support levels, as the medium- to long-term outlook remains positive.
However, for silver, Narvekar has a cautious approach.
“While the metal has strong long-term potential, its dual role as both a precious and industrial metal makes it more sensitive to economic growth. Ongoing geopolitical uncertainties and macroeconomic headwinds could keep silver prices relatively more volatile than gold,” opines Narvekar.
What should existing investors do amid falling gold and silver prices?
Kothari advises investors to stay calm and not to resort to panic-selling. The IBJA president says what has changed is only the paper price, a reflection of short-term rate expectations, not the fundamental reason for holding precious metals.
For investors with surplus capital, Kothari’s advise it to use the price correction to average down their cost basis through systematic buying.
“Avoid making long-term portfolio decisions based on short-term price swings,” advises Kothari.
What can be the best form to invest in gold and silver?
Narvekar says the preferred forms of gold and silver are financial instruments rather than physical jewellery.
The analyst reveals that in India, the best options are gold/silver ETFs, suitable for investors wanting liquidity, transparency, and easy market access.
“Gold mutual funds are suitable for SIP investors who do not want a demat account. Digital gold can be used only for small convenience-based purchases, but it is less regulated compared to ETFs,” advises Narvekar.
