Gold Prices Slip ₹200 in Delhi as Global Rally Surges Amid Easing Geopolitical Tensions
Gold prices edged down by ₹200 in the national capital on Tuesday. This minor correction came despite positive global trends in commodity markets.Silver traded flat, reflecting subdued domestic buying interest in the local market. The subtle shifts in precious metal pricing highlight varying sentiments between domestic and international markets.
Domestic Gold Prices Correct Amid Local Demand Constraints
Gold of 99.9 per cent purity saw a marginal decline. It fell by ₹200 to ₹1,59,200 per 10 grams (including all taxes). This was down from the closing price of ₹1,59,400 per 10 grams on Monday.In contrast, silver prices remained steady at ₹2,60,700 per kg.
Analysts observed that easing geopolitical tensions provided a boost to domestic equity markets and supported the rupee. This positive shift led some investors to reduce their allocation in precious metals.
Global Bullion Market Sees Gains on Easing Inflation Fears
Global markets presented a stronger picture for precious metals. Spot gold and silver were traded nearly 1 per cent higher. Gold reached $4,344.36 per ounce, while silver hit $70.43 per ounce.Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, noted that spot gold continues to benefit from lower oil prices. These lower oil prices are credited with sinking to a fresh cycle low on Tuesday. The positive sentiment was also linked to the US-Iran deal being signed electronically by US Vice President JD Vance.
Cautious Outlook for Silver Ahead of Key Economic Data
Silver hovered near USD 70.5 per ounce globally. Traders maintained a cautious stance ahead of major economic data releases. There is anticipation regarding the Federal Reserve's policy decision.Kaynat Chainwala, AVP Commodity Research at Kotak Securities, pointed out this cautionary approach. Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, added that market participants are closely monitoring developments surrounding the ongoing US-Iran agreement. This agreement continues to influence sentiment across bullion and commodity markets.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.