Sharp Decline in Gold Prices

Gold prices experienced a significant drop, falling by Rs 1,550 to settle at Rs 91,450 per 10 grams in the national capital. This decline was attributed to heavy selling from jewellers and stockists, alongside a weak global trend.

Impact on Silver and Global Markets

Silver prices also saw a downward trend, dropping by Rs 3,000 to Rs 92,500 per kg, marking the fifth consecutive day of decline. Globally, spot gold decreased by USD 10.16, or 0.33%, to USD 3,027.20 per ounce.

Investor Sentiment and Future Outlook

Investors remain cautious as they await further clarity from the US on its next steps amidst escalating trade tensions. The upcoming US Consumer Price Index (CPI) data release is anticipated to influence expectations for interest rate cuts, potentially affecting gold prices worldwide.

Domestically, attention is also on the Reserve Bank of India’s monetary policy meeting for further guidance. Meanwhile, in Asian markets, spot silver rose by 1.65% to USD 30.04 per ounce.