Gold and silver prices witnessed a sharp decline in the domestic bullion market on Tuesday as a stronger Indian rupee and weak global cues weighed on investor sentiment. According to the All India Bullion Association, 24-carat gold (99.9% purity) fell by ₹2,640 to ₹1,47,000 per 10 grams, while silver plunged ₹5,200 to ₹2,24,800 per kilogram.
The correction comes ahead of the highly anticipated US Federal Reserve policy decision, with investors adopting a cautious approach amid global economic uncertainty.
Gold and Silver Prices Today
Gold (99.9% purity): ₹1,47,000 per 10 grams (Down ₹2,640)
Previous Close: ₹1,49,640 per 10 grams
Silver: ₹2,24,800 per kg (Down ₹5,200)
Previous Close: ₹2,30,000 per kg
Why Did Gold and Silver Prices Fall?
Market experts attributed the decline to multiple factors:
Strong appreciation of the Indian rupee reduced the cost of imported bullion.
Weak international bullion prices pressured domestic markets.
Investors remained cautious ahead of the US Federal Reserve's interest rate decision.
Profit booking after recent gains also contributed to the decline.
According to Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities, investor caution before the Federal Reserve meeting significantly impacted bullion prices.
International Gold Market Under Pressure
Global bullion markets also remained under pressure.
Spot Gold: Fell $53.30 (1.31%) to $4,023.50 per ounce
Spot Silver: Declined 2% to $57.24 per ounce
Commodity analysts noted that the US Dollar Index climbed to a one-month high of 101.57, making gold more expensive for international buyers and reducing demand.
Geopolitical Developments Also Influenced Prices
According to Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, hopes of renewed peace talks between the United States and Iran eased geopolitical tensions, reducing safe-haven demand for gold.
Crude oil prices also declined for the third consecutive session as reports suggested progress in discussions involving Oman and Iran over the Strait of Hormuz. However, uncertainty remains after US President Donald Trump warned that military action could resume if negotiations fail.
What Should Investors Do?
Analysts believe short-term volatility may continue due to:
The US Federal Reserve's policy announcement.
Movements in the US dollar.
Rupee fluctuations.
Global geopolitical developments.
Long-term investors are advised to monitor these factors closely before making fresh investment decisions.
Key Highlights
Gold falls ₹2,640 to ₹1.47 lakh per 10 grams.
Silver drops ₹5,200 to ₹2.24 lakh per kg.
Stronger rupee lowers imported bullion costs.
US Fed policy decision keeps investors cautious.
Global gold slips over 1%, while silver loses 2%.
Easing US-Iran tensions reduce safe-haven demand.
Gold-Silver Prices Today: Gold Rises, Silver Crosses ₹2.5 Lakh; Copper and Zinc Also Gain
The commodities market is witnessing a broad-based rally, with gold and silver prices climbing al
Gold and silver prices surged on August 20, with both precious metals witnessing a sharp rise in
Russia has intensified its action against Telegram founder Pavel Durov, with the country's primar
Rajasthan Royals could reportedly make a major change to their squad ahead of IPL 2027, with spec
Tata Technologies News: Former CEO Sells ₹165 Crore Shares Amid Kenya Row—What Happened?
Patrick Raymon McGoldrick, former CEO and Managing Director of Tata Technologies, has sold shares
Renewable energy company Juniper Green Energy made a strong debut on the stock exchanges, giving
India's hopes of reaching the semi-finals of the FIH Men's Hockey World Cup 2026 came to an end a
Bandhan Bank Shares Crash 14% Despite Higher Q1 Profit; Brokerages Turn Cautious After Outlook Cut
Bandhan Bank surprised investors after reporting a 35% year-on-year increase in net profit for th
Anahat Singh Becomes World Champion: Emotional Champion Says, ‘This Is Nothing Short of a Dream’
India's top-ranked squash player Anahat Singh etched her name into the history books by becoming
Bank Holiday August 19: Banks Shut in Tripura Today; Check If Your City Is Affected
If you are planning to visit a bank branch today, check the holiday status first. According to th
