Gaurav Garg, 

Research analyst 

Lemonn markets desk.

Mumbai, 19 June 2026: In today's commodity market update, gold and silver prices faced downward pressure, with gold trading at approximately Rs1,26,161 per 10 grams and $4,154.30 per ounce, down 1.65%, while silver fell to Rs1,93,009 per kg and $63.55 per ounce, declining by 4.08%. The easing of geopolitical tensions and a stronger U.S. dollar have contributed to this decline, as investors shifted focus towards equities, leading to a slight recovery in U.S. stock markets. Additionally, crude oil prices also saw a slight drop, with WTI trading at $75.97 per barrel, or Rs7,176, down 0.82%, as concerns over supply disruptions eased.

Sachin Sawrikar, Managing Partner, Artha Bharat Investment Managers IFSC LLP, adds:

Gold has fallen nearly 24% since its January peak of $5,595, and today’s Fed-driven selloff added to the pain. The reasons are inflation fears from the oil shock, a hawkish rate environment, a stronger dollar, and leveraged positions being unwound. These are cyclical pressures, not a fundamental breakdown. That said, anyone calling the bottom with confidence is guessing. What we can say is that the structural case, sovereign debt at historic highs, persistent central bank accumulation, and growing questions around reserve currency durability, hasn’t reversed. Whether this is the entry point or there’s more downside, nobody knows. But investors with a five-year horizon and no allocation to precious metals should at least be asking the question.