Silver falls Rs 7,400, gold drops Rs 1,300 amid global weakness

All India Sarafa Association, silver prices slipped nearly 3 per cent to Rs 2,70,500 per kg, including all taxes, from Rs 2,77,900 per kg recorded in the previous session

Metro India News | new delhi

Precious metals witnessed sharp declines in the national capital on Thursday, with silver falling by Rs 7,400 per kilogram and gold dropping by Rs 1,300 per 10 grams amid weak global trends and profit-booking by traders.

According to the All India Sarafa Association, silver prices slipped nearly 3 per cent to Rs 2,70,500 per kg, including all taxes, from Rs 2,77,900 per kg recorded in the previous session. The fall came after silver hit a three-week high earlier in the week, prompting some investors to book profits.

Gold of 99.9 per cent purity also declined by almost 1 per cent, falling to Rs 1,62,900 per 10 grams from Rs 1,64,200 per 10 grams. Traders noted that the fall was largely influenced by subdued international cues and a stronger US dollar, which reduced investor interest in bullion.

On the global front, spot silver dropped USD 1.91, or 2.15 per cent, to USD 87.28 per ounce. Gold, however, remained relatively stable, trading marginally higher at USD 5,176.21 per ounce. Analysts said the movement in international markets and currency fluctuations continued to play a key role in domestic prices.

Market participants highlighted that while short-term profit-booking contributed to the decline, overall sentiment remains cautious as investors monitor global economic developments, including US dollar strength and geopolitical factors affecting precious metals.

The fall in bullion prices is expected to influence retail demand in the coming days, with traders advising buyers to watch for further international cues before making significant purchases.

Traders anticipate that any fresh positive or negative global development could result in quick shifts in domestic silver and gold rates, making the market highly sensitive to international trends and currency movements.

Silver fell by Rs 7,400 per kg to Rs 2,70,500, while gold dropped by Rs 1,300 per 10 grams to Rs 1,62,900.

International silver closed at USD 87.28 per ounce and gold at USD 5,176.21 per ounce.