Gold down 1% on April 13, 2026; silver tumbles ₹5,300/kg amid fading truce hopes

Gold and silver prices slipped on Monday, April 13, as futures on India’s commodities exchange declined sharply, tracking global weakness after Donald Trump ordered US forces to begin blockading the Strait of Hormuz. The escalation in Middle East tensions pushed investors toward the dollar, pressuring precious metal prices despite heightened geopolitical risk.

On the Multi Commodity Exchange (MCX), gold and silver futures opened lower, falling around 1% and 2% respectively in early trade.

Gold and silver futures on MCX

Gold futures for June delivery dropped more than 0.7% (Rs 1,101 per 10 grams), slipping to Rs 1,51,551 per 10 grams in morning trade. Silver futures for May delivery posted a steeper fall of over 2% (Rs 5,313 per kg), trading at Rs 2,37,961 per kilogram.

Global market trends

In global trade, spot gold fell to its lowest level in nearly a week. A strengthening dollar and surging crude oil prices, following the collapse of US-Iran peace talks, added pressure. Spot gold slid 0.6% to $4,718.98 per ounce, having touched its weakest point since 7 April. The metal has now lost more than 11% since the start of the US-Israeli conflict with Iran on 28 February.

Among other precious metals:

• Spot silver dipped 2% to $74.23 per ounce
• Platinum eased 0.5% to $2,034.95 per ounce
• Palladium gained 1% to $1,535.77 per ounce

Geopolitical backdrop

The price moves came as tensions intensified after Trump’s blockade orders. The Iran's Revolutionary Guards warned that any foreign military vessel approaching the Strait of Hormuz would be treated as violating the ceasefire and met with “harsh” retaliation.

The warning followed failed peace discussions in Pakistan over the weekend, which ended without agreement.

For Monday’s session:

• Gold support: $4,740–4,680 | Resistance: $4,840–4,884
• Silver support: $74.00–70.70 | Resistance: $78.80–80.40

At MCX:

• Gold support: Rs 1,51,100–1,49,200 | Resistance: Rs 1,53,800–1,55,000
• Silver support: Rs 2,40,000–2,34,400 | Resistance: Rs 2,47,700–2,51,000

He advised traders to wait for clearer signals on US-Iran negotiations before taking fresh positions.

Gold prices in major Indian cities

As per GoodReturns, physical gold rates on Monday were as follows:

Gold price in Delhi:

• 22-carat: Rs 1,40,240 per 10 grams
• 24-carat: Rs 1,52,980 per 10 grams

Gold price in Mumbai:

• 22-carat: Rs 1,40,090 per 10 grams
• 24-carat: Rs 1,52,830 per 10 grams

Gold price in Chennai:

• 22-carat: Rs 1,40,990 per 10 grams
• 24-carat: Rs 1,53,810 per 10 grams

Gold price in Hyderabad:

• 22-carat: Rs 1,40,090 per 10 grams
• 24-carat: Rs 1,52,830 per 10 grams

Gold and silver are expected to remain volatile through the week as traders track geopolitical developments, crude oil movements and cues from the Federal Reserve.