.png){kind=logo}
Gold prices remain under pressure from rising geopolitical tensions and a stronger value of the US dollar on April 6, 2026. These movements have dampened investor sentiment. The yellow metal failed to hold above $4,600 in international markets. This reflects volatility in the market amid rising tensions in the Middle East.
On Multi-Commodity Exchange (MCX), gold June futures dropped by nearly 1%, to Rs. 1,48,298 per 10 grams, while MCX silver May contracts declined by over 1%, to Rs. 2,29,651 per kg in early deals.
According to the latest retail data from GoodReturns, gold prices went down in major cities. The price of 24-carat gold dropped by Rs. 180 to Rs. 14,913 per gram, while the 22-carat gold lost Rs. 165 per gram, reaching Rs. 13,670. 18K gold dropped to Rs. 11,185 per gram, down by Rs. 135.
Mumbai, Kolkata, Bangalore, and Hyderabad remained closely aligned at Rs. 14,913, while Chennai traded at a premium with 24K gold at Rs. 15,217 per gram.
In the international market, gold struggled to maintain its gains with the easing of macroeconomic pressures. US gold prices fell over 1%. This decline is mainly due to a stronger value of the dollar and fading hopes of interest rate cuts by the US Federal Reserve.
Spot gold fell 1.2% to $4,620.68 per ounce. US gold futures for April lost 0.7 % to $4,647.10. The 10-year US Treasury yield and the dollar index rose, pressuring greenback-priced bullion. Spot silver fell 1% to $72.28 per ounce, spot platinum shed 0.5% to $1,979.42, and palladium edged 0.1% higher at $1,504.34.
The near-term technical outlook remains bearish. Gold is below the 20-period simple moving average near $4,663 and remains capped by the 100-period and 200-period simple moving averages that are falling near $4,700 and $4,900, respectively.
Immediate support comes in at $4,600, followed by $4,560, should selling pressure build. On the upside, resistance is seen at $4,663, followed by $4,680 and the recent swing high near $4,785.
Also Read: India Planning Tighter Gold Tagging Rules to Counter Hallmarking Misuse
Gold continues to experience near-term losses as increased geopolitical tensions and a stronger US dollar offset the safe-haven premium. However, failure to breach and hold above $4,600 indicates that downside risks remain. A break below key support may further accelerate losses, while a recovery above $4,680 is required to ease sentiment and shift momentum towards the upside.
