A persistent downward trend has taken hold of precious metal trading in the domestic market. In Delhi's bullion market, gold prices declined for the fifth consecutive trading session, reflecting prolonged selling pressure across spot counters. Over the span of these five trading sessions, the yellow metal has lost roughly ₹3,600 per 10 grams in total value. In the latest market movement, 99.9 percent purity gold dropped by ₹1,600 to end at ₹1,52,400 per 10 grams. Alongside gold, silver prices also took a sharp downturn following two days of range-bound trade.
Gold Price Movements in Delhi Bullion Market
The price of 99.9 percent purity gold in Delhi's spot trading fell by ₹1,600, taking the benchmark rate to ₹1,52,400 per 10 grams. In the previous trading session, the metal had settled at ₹1.54 lakh per 10 grams. Looking across the five-day trading window, gold was priced at around ₹1.56 lakh per 10 grams five sessions ago, marking a cumulative decline of roughly ₹3,600. Bullion market traders attributed the ongoing softness to steady profit booking at elevated price bands as well as subdued international market indicators that kept buying interest restrained.
Silver Drops by ₹5,000 per Kilogram
The selling wave also hit silver, causing a steep decline in physical trade. After holding steady for two straight trading days, silver prices tumbled by ₹5,000 to settle at ₹2.37 lakh per kilogram. During the preceding trading session, the industrial metal had concluded at ₹2.42 lakh per kilogram. Market participants pointed out that silver typically witnesses sharper volatility compared to gold. In addition, its extensive application across manufacturing and industrial sectors makes it highly responsive to shifts in broader global economic data.
Pressure from a Firmer Dollar and Rising Yields
Weak international cues combined with sluggish local demand accelerated the drop across precious metal categories. A strengthening US dollar alongside an uptick in US Treasury yields contributed significantly to the downward momentum. In the overseas spot market, gold shed approximately 1 percent to trade at 4,253.61 dollars per ounce. Concurrently, overseas silver slipped 1.4 percent to change hands at 63.56 dollars per ounce.
Crude Oil Spikes Complicate Monetary Outlook
Rising prices in the global crude energy complex have added another layer of concern for bullion traders. Brent crude climbed to nearly 106 dollars per barrel amid supply disruptions and tensions centered in West Asia. Elevated crude oil prices heighten inflationary pressures across the globe, which in turn reduces the room for major central banks to implement benchmark interest rate cuts in the near term.
