1 week ago
Gold Falls ₹600 After Rally While Silver Rebounds ₹500
Gold became cheaper in Delhi after rising for four trading sessions in a row.
Its price fell by ₹600 to ₹1,66,500 for 10 grams.
Some investors sold gold to lock in profits from its recent rise.
A stronger US dollar also made gold less attractive to buyers using other currencies.
Silver moved differently and became ₹500 more expensive in India.
However, silver prices fell slightly in international markets.
Investors are waiting for US inflation information and clues about interest rates.
These developments could affect the dollar, government bond yields and precious-metal prices.
Gold prices in Delhi fell ₹600 to ₹1,66,500 per 10 grams, ending a four-session winning streak.
Investors booked profits after gold’s strong rally, while a stronger US dollar also reduced demand.
Silver rose ₹500 domestically to ₹2,50,500 per kilogram despite a slight international decline.
Spot gold fell nearly 1% overseas to USD 4,619.21 an ounce, while international silver slipped to USD 68.50.
Markets are now focused on US inflation data, interest-rate expectations and Kevin Warsh’s upcoming speech.
- Who
- Investors, bullion traders and US monetary policymakers are central to the developments.
- What
- Gold fell ₹600 in Delhi after a four-session rally, while domestic silver rose ₹500.
- Where
- Gold and silver prices were reported in Delhi, with additional movements in overseas markets and at the Jackson Hole Symposium.
- When
- In the latest trading session; investors are awaiting US inflation data and Kevin Warsh’s speech on Friday.
- Why
- Profit booking, a stronger US dollar and weaker overseas prices pressured gold, while silver gained domestically.
Key facts
- Gold price
- ₹1,66,500 per 10 grams in Delhi for 99.9% purity gold
- Gold move
- Down ₹600 after four consecutive winning sessions
- Domestic silver price
- ₹2,50,500 per kilogram, inclusive of all taxes
- Silver move
- Up ₹500 in the domestic market
- Spot gold overseas
- USD 4,619.21 an ounce, down USD 39.66 or nearly 1%
- International silver
- USD 68.50 an ounce after a marginal decline
- Key upcoming focus
- US inflation data and Kevin Warsh’s speech at the Jackson Hole Symposium
Sources
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