Today gold price: Are gold prices set for another big drop?: One of the main reasons cited for the fall in gold and silver prices is speculation that the Trump administration is considering nominating Kevin Warsh for the position of head of the US Federal Reserve.
In the last three to four days, gold and silver prices have fallen sharply, after consistently reaching record highs over the past year due to global turmoil. Naturally, this raises the question for investors: Is this the right time to buy gold and silver during this dip, or is it better to wait for prices to fall further? The main reason for the sharp decline in prices after reaching record highs in the bullion market this week is the strengthening of the US dollar and growing expectations regarding US monetary policy.
Why did gold and silver prices fall?
Another major reason cited for the fall in gold and silver prices is the possibility that the Trump administration might nominate Kevin Warsh for the position of head of the US Federal Reserve. This has increased expectations of interest rate cuts, which has directly impacted the dollar and precious metals. In addition, geopolitical uncertainties and long-term policy signals have also influenced the market.
Did the 2026 budget impact prices?
Domestically, the 2026 budget did not include any major announcements regarding gold and silver, providing no significant support for these metals. Now, the market is focusing on upcoming RBI decisions, US employment figures, and PMI data, which will determine whether prices stabilize or continue to fluctuate.
What do the experts say?
Experts believe that uncertainty will persist in gold and silver prices for the time being. According to Manav Modi, Senior Analyst at Motilal Oswal Financial Services, prices of these metals may continue to fluctuate in the coming days, so investors should proceed with caution. Meanwhile, on Sunday, the decline continued for the second consecutive day, with silver futures falling nine percent to ₹2.65 lakh per kilogram, while gold fell three percent to ₹1.47 lakh per 10 grams.
Silver for March delivery closed at the lower circuit on the Multi Commodity Exchange (MCX). According to Pranav Mer, Vice President of EBG—Commodity and Currency Research at JM Financial Services, gold in the domestic market has fallen by approximately 20 percent from its all-time high, while silver has slipped by about 37 percent, indicating a natural correction after recent sharp profit-taking and rapid price increases.
