Gold and Silver Prices Fall Up to 5% in Delhi; Silver Drops ₹11,250
New Delhi, March 27 – Prices of gold and silver declined sharply in the national capital on Friday, with silver plunging up to 5% amid volatile global cues and fluctuations in crude oil prices.Silver Prices Crash Nearly 5%
According to the All India Sarafa Association, silver prices dropped by ₹11,250 to ₹2,30,000 per kg (inclusive of taxes), down from ₹2,41,250 per kg in the previous session.Gold Prices Decline by ₹1,900
Gold of 99.9% purity fell by ₹1,900, or 1.3%, to ₹1,47,800 per 10 grams (inclusive of taxes), compared to its last closing price of ₹1,49,700 per 10 grams.Bullion markets remained closed on Thursday on account of Ram Navami.
Global Trends Keep Bullion Volatile
Analysts attributed the decline in domestic bullion prices to volatile crude oil movements and shifting global investor sentiment.In international markets:
- Spot gold rose by USD 37.19 (nearly 1%) to USD 4,416 per ounce
- Silver gained 0.23% to USD 68.12 per ounce
Outlook: Key US Data in Focus
Experts noted that gold briefly climbed to around USD 4,420 per ounce on bargain buying as crude prices softened but later pared gains as oil prices recovered.Market participants are now closely watching upcoming US macroeconomic data, including consumer sentiment and inflation expectations, which are expected to influence bullion price trends in the near term.
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