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Gold prices decreased on 2 April 2026 after an anticipated address from US President Donald Trump offered little clarity regarding the conclusion of the Middle East war. Gold 5th June futures declined 0.21% to Rs. 1,53,389 per 10 grams on Multi-Commodity Exchange (MCX), while Silver May contract declined 0.16% to Rs. 2,43,123 per kg.
The price of 24K gold increased by Rs. 1 in early trade, with ten grams of precious metal trading at Rs. 1,52,960. The price of 22K gold also rose by Rs. 1, with ten grams of yellow metal selling at Rs. 1,40,210.
The price of ten grams of 24K gold stood at Rs. 1,52,960 in Mumbai and Kolkata and Rs. 1,53,280 in Chennai. In Delhi, the price of 10 grams of 24K gold was Rs. 1,53,110.
US gold prices climbed to a two-week high on Thursday, supported by a weaker dollar. Spot gold was up 0.7% at $4,790.29 per ounce, the highest level since March 19. US gold futures edged 0.1% higher to $4,816.10.
Spot silver rose 0.7% to $75.62, platinum gained 0.4% to $1,970.60, and palladium added 0.3% to $1,476.75.
The around 12% decline in March was the bullion’s worst monthly performance since October 2008, as inflationary risks mounted amid elevated oil prices.
From a technical standpoint, Thursday’s failure near the 200-day Exponential Moving Average (EMA) support pivot, now turned resistance on the 4-hour chart and the $4,800 favor the bears of the XAU/USD.
Besides, the Relative Strength Index (RSI) falls back to the mid-50s after remaining overbought over 70, whereas the Moving Average Convergence Divergence (MACD) indicator backpedals from recent highs, indicating fading upside pressure rather than a reversal.
On the other hand, some follow-through selling will see the Gold price crashing to the next support, which is at $4,600. This would open the path towards $4,550.
On the upside, immediate resistance is seen at the latest swing high near $4,787, with a break higher revealing the $4,820-$4,830 range where the 200-day EMA.
