Gold & Silver Prices Dip as Global Cues Weigh on Sentiment

Indian bullion markets witnessed a pullback in gold and silver prices today, reflecting weakness in global markets and profit-booking by investors. After a brief rebound earlier this week, both metals corrected, signaling short-term pressure but potential accumulation opportunities for long-term buyers.

On the Multi Commodity Exchange (MCX), gold futures eased after recent gains, while silver erased part of its recovery. Spot silver also plunged in international markets, intensifying the decline during Asian trading hours.

Key Highlights

• Gold (24K): ₹15,441 per gram in Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Kerala, and Pune. Chennai saw slightly higher rates at ₹15,621 per gram.
• Silver: ₹299.90 per gram; broader contracts show weakness after recent volatility.
• Global cues negative: US dollar strength and profit-booking weigh on sentiment.
• Silver futures dropped to ₹2.47 lakh per kg, erasing recent gains.
• Analysts’ view: Decline may encourage fresh buying among long-term investors.
• Local variations: Prices differ slightly across cities due to taxes and making charges.

Sources: Business Standard, Mint, NDTV Profit, Daily Financial, GoldPriceIndia.com