Gold and silver prices witnessed a sharp correction in the domestic bullion market on Monday as a stronger US dollar, global economic uncertainty, and profit-booking by investors weighed on precious metals. While gold prices declined by ₹150 per 10 grams, silver prices plunged by ₹5,000 per kilogram, ending a four-day rally.
Market experts say investors are closely monitoring upcoming US economic data, the US Federal Reserve's interest rate outlook, and geopolitical developments in West Asia before taking fresh positions.
Gold Price Today in Delhi
According to bullion market data, 24-carat gold (99.9% purity) in the national capital slipped by ₹150 to settle at ₹1,50,650 per 10 grams.
In the previous trading session, gold had closed at ₹1,50,800 per 10 grams.
The modest decline reflects cautious investor sentiment amid uncertainty in global financial markets.
Silver Price Today Falls ₹5,000
Silver witnessed a much sharper correction after recording gains for four consecutive sessions.
According to local bullion dealers:
Previous closing price: ₹2,45,000 per kg
Current price: ₹2,40,000 per kg
The ₹5,000 decline per kilogram marks the biggest single-day fall after silver's recent rally.
International Gold and Silver Prices
Weakness was also visible in global precious metal markets.
At the time of reporting:
Spot Gold: $4,160.60 per ounce
Spot Silver: $62.24 per ounce
The correction in international prices also contributed to softer domestic bullion rates.
Why Did Gold and Silver Prices Fall?
Analysts attribute the decline to several global factors.
Stronger US Dollar
A strengthening US dollar makes gold more expensive for buyers using other currencies, reducing international demand and putting pressure on bullion prices.
Profit Booking
After recent gains in both gold and silver, many traders booked profits, triggering additional selling pressure in the market.
Federal Reserve Interest Rate Outlook
Investors remain cautious ahead of key US inflation and economic data, which could influence the US Federal Reserve's next monetary policy decision.
Expectations that interest rates may remain elevated continue to limit upside in precious metals.
Geopolitical Developments
Ongoing geopolitical tensions involving the United States and Iran have also increased market volatility, prompting investors to adopt a wait-and-watch approach.
What Market Experts Say
Gaurav Garg, Research Analyst at Lemon Markets Desk, said domestic gold prices weakened as investors closely track geopolitical developments between Washington and Tehran while awaiting important US inflation data.
Meanwhile, Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, noted that a stronger US dollar and expectations surrounding future Federal Reserve policy have pressured international gold prices.
According to him, traders are positioning themselves based on expectations that US interest rates could remain elevated for a longer period.
Gold Price Outlook
Experts believe the near-term direction of gold and silver will largely depend on upcoming US economic indicators, including ISM Services PMI, inflation data, and employment numbers.
While higher interest rates may continue to limit sharp gains, analysts remain optimistic about gold's long-term outlook, citing easing inflation expectations and signs of moderation in the US labour market.
Investors are expected to remain cautious until there is greater clarity on the Federal Reserve's next policy move, making global macroeconomic data the key driver for bullion prices in the coming weeks.
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