Gold and Silver Prices in India Today, 19 June 2026: 24K Gold Crashes ₹2,750 to ₹1,46,910, Silver Plunges 2.90% as Fed Signals Rate Hike Ahead

Gold and silver prices fell sharply across Indian markets on Friday, 19 June 2026, after the US Federal Reserve's updated rate projections under new Chair Kevin Warsh signalled a more hawkish path than markets had expected. As of 11:55 AM IST, 24K gold is trading at ₹1,46,910 per 10 grams, down ₹2,750 or 1.84%, and silver 999 Fine is at ₹2,31,770 per kg, down ₹6,930 or 2.90%, according to Bullions.co.in.

Kevin Warsh's first meeting as Federal Reserve Chair concluded Wednesday with no change in interest rates, but the accompanying dot plot showed the median estimate for the federal funds rate at the end of 2026 rising to 3.8%, up from 3.4% in the prior projections, signalling the committee now sees at least one rate hike as necessary this year.

Quick Snapshot

Source: Bullions.co.in. Last updated 19 Jun 2026, 11:55 AM IST.

City-Wise Gold and Silver Rates Today, 19 June 2026

Prices vary across cities due to state taxes, local duties, and logistics costs.

Rates are indicative bullion prices as of 19 June 2026, 11:55 AM IST. Jewellery purchases include additional making charges and GST. Chennai typically carries a premium over other cities.

Gold and Silver Prices in India Today, 18 June 2026: 24K Gold Steady at ₹1,51,100, Silver Near ₹2,60,000 as Fed Rate Hike Odds Ease to 58%

Gold and silver prices in India today, 18 June 2026: 24K gold held near ₹1,51,100 per 10g and silver hovered around ₹2,60,000 per kg, as Fed rate hike odds eased to 58% under new Chair Kevin Warsh and the US-Iran ceasefire continued to hold. Check city-wise rates and MCX data.

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Gold Rate Analysis Today

24K gold is trading at ₹1,46,910 per 10 grams today, down ₹2,750 or 1.84% from yesterday's ₹1,49,660. This is one of the sharpest single-day falls seen this month and follows confirmation that the Fed under Kevin Warsh is leaning more hawkish than markets had priced in.

Kevin Warsh's first meeting as Fed Chair concluded Wednesday with no change in interest rates and a nod to possible hikes ahead, alongside the removal of key language that had previously indicated a bias toward future cuts. Based on 18 of 19 possible responses, the median estimate for the federal funds rate at the end of 2026 is now 3.8%, up from 3.4% in the prior projections from March, with eight participants expecting no change, one seeing a cut, and nine anticipating at least one hike this year.

Warsh has argued that supply-shock inflation should generally be looked through when formulating policy, and has maintained that artificial intelligence will ultimately have a disinflationary impact as rising productivity eases the cost of goods and services. However, the case for lower rates has been complicated by a resilient labour market, with nonfarm payroll growth again defying expectations in May at 172,000 jobs added, while unemployment held steady at 4.3%.

On COMEX, gold has fallen 1.94% to $4,163.70 per ounce, with a session high of $4,231.40 and a low of $4,138.70. The scale of the move on COMEX confirms this is a broad-based global sell-off rather than a domestic-only correction.

Silver Rate Analysis Today

Silver 999 Fine is trading at ₹2,31,770 per kg today, down ₹6,930 or 2.90% from yesterday's ₹2,38,700. Silver is once again falling more sharply than gold in percentage terms, consistent with its pattern of higher volatility around major monetary policy events.

On COMEX, silver has dropped 3.29% to $64.14 per ounce, with a session high of $65.94 and a low of $63.36. The sharper fall in silver reflects its dual sensitivity — both to interest rate expectations as a monetary asset, and to global growth concerns as an industrial metal, since a more hawkish Fed raises the risk of slower growth ahead.

The hawkish dot plot has overshadowed otherwise supportive fundamentals for silver. Markets had been hoping that Warsh would frame the recent energy-driven inflation, tied to the Iran conflict and Strait of Hormuz disruption, as temporary and geopolitical rather than structural. Instead, the updated projections suggest the Fed remains cautious regardless of the easing oil price backdrop, which has weighed heavily on silver's near-term outlook.

MCX Futures Data Today, 19 June 2026

Gold Futures (August 2026 Contract)

Silver Futures (July 2026 Contract)

Source: Bullions.co.in Live Exchange Rates. Last updated 19 Jun 2026, 11:55 AM IST.

Both MCX gold and silver are deep in negative territory, broadly tracking the sharp moves on COMEX. The size of today's fall, nearly 1.8% on gold and almost 2.9% on silver, reflects how significant the shift in the Fed's dot plot has been for market positioning. Many traders had been wagering on a friendlier rate path given the easing geopolitical backdrop, and today's repricing reflects the unwinding of those bets. Watch for any follow-through selling into the weekend close, as well as Warsh's public remarks for further clarity on the Fed's reasoning.

Key Factors Influencing Prices Today

• Fed's Hawkish Dot Plot: The median federal funds rate projection for end-2026 rose to 3.8% from 3.4% in the prior projection, with nine of nineteen committee members now anticipating at least one rate hike this year. This is the single biggest driver behind today's sharp sell-off in both metals.
• Resilient US Labour Market: Nonfarm payroll growth defied expectations in May with a gain of 172,000 jobs, while unemployment held steady at 4.3%. A strong jobs market gives the Fed more room to consider tightening rather than cutting rates.
• Warsh's Hawkish Reputation Confirmed: Kevin Warsh, sworn in as the 17th Fed Chair, is widely viewed as a price-stability hawk. Today's dot plot is the first concrete confirmation of that stance since his confirmation, removing earlier hopes that he might take a softer line given the geopolitical backdrop.
• Easing Geopolitical Tensions Reduce Safe-Haven Demand: With the Strait of Hormuz reopening and the US-Iran ceasefire holding, the safe-haven premium that had supported gold and silver through much of June is fading, compounding the impact of the hawkish Fed signal.
• Strengthening US Dollar: A more hawkish rate outlook is supporting the US dollar, which makes gold and silver costlier for buyers using other currencies and is adding further pressure on prices globally.

Smart Buying Tips for Gold and Silver

• Avoid panic selling or buying today. Sharp single-day moves like this are often followed by some stabilisation. If you already hold gold or silver for the long term, today's fall does not change the underlying investment case.
• Watch Warsh's public commentary closely over the coming days. The dot plot signals intent, but the Fed's actual rate decisions later in the year will depend on incoming data, especially around inflation and employment.
• This dip may suit staged long-term buyers. Gold remains up 47.53% and silver up 114.82% year-on-year despite today's fall. Investors with a multi-year horizon may consider this as one entry point among several staged purchases, rather than a single lump-sum decision.
• Always insist on BIS hallmarking. Every piece of gold jewellery should carry a six-digit HUID confirming government-certified purity, particularly important when buying during periods of price volatility.

FAQs

Why did gold and silver fall so sharply today?

The US Federal Reserve's updated dot plot, released after Kevin Warsh's first meeting as Chair, showed the median year-end 2026 rate projection rising to 3.8% from 3.4% previously. This signals the Fed now sees at least one rate hike as more likely than markets had expected, which reduces the appeal of gold and silver, as both pay no yield and become less attractive when interest rates rise.

What is a dot plot and why does it matter?

The dot plot is a chart published by the Federal Reserve showing where each committee member expects the federal funds rate to be at the end of future years. It does not represent an official decision but signals the collective thinking of policymakers. A rising median dot, as seen today, suggests more members expect higher rates ahead, which is generally negative for gold and silver prices.

Should I sell my gold and silver holdings after today's fall?

A single-day fall driven by a shift in rate expectations does not necessarily change the long-term case for holding precious metals, especially if you are invested for several years. Investors with a short-term trading view may want to wait for more clarity from Kevin Warsh's public remarks, while long-term investors may continue with their existing staged investment plan.