# Silver Slides While Gold Gains in Delhi Bullion Trade Amid Global Economic Cues

> Silver dropped by 5,000 rupees to 2.27 lakh rupees per kilogram in Delhi, whereas gold climbed 500 rupees to 1,49,800 rupees per 10 grams on currency weakness.

**Type:** article · **Category:** Business · **Published:** 2026-10-01 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/business/silver-men-bhari-giravata-ke-bicha-gold-majabuta-delhi-men-dhatu-bajaron-ka-taja-hala-41458 · **Language:** English
**Tags:** Gold Price, Silver Price, Delhi Bullion Market, Commodities, Indian Rupee, Federal Reserve

Trading in the physical bullion market displayed a stark divergence on Thursday, with the two precious metals moving in opposite directions. Gold extended its winning streak for a second consecutive session across the national capital, buoyed by a softening domestic currency and steady overseas support. Conversely, industrial metal silver faced intense liquidation, enduring a steep single-day fall. Local traders noted that physical bullion trading desks will remain closed on Friday on the occasion of Gandhi Jayanti.

## Current Spot Prices in the Delhi Bullion Market
In Delhi physical trade, standard gold of 99.9 percent purity appreciated by 500 rupees to touch 1,49,800 rupees per 10 grams. The yellow metal had concluded Wednesday's session at 1,49,300 rupees per 10 grams. In sharp contrast, silver suffered an aggressive markdown of 5000 rupees to settle at 2.27 lakh rupees per kilogram. During the previous trading session, white metal quotes in Delhi had settled at 2.32 lakh rupees per kilogram.

## Weekly Trajectory and Currency Headwinds
Despite staging a two-session recovery, gold remained in negative territory on a weekly basis, losing 2800 rupees or nearly 2 percent of its value across the week. The drop was markedly steeper for silver, which shed 10,000 rupees or roughly 4.2 percent over the same weekly timeframe. Domestic gold found downside protection primarily from foreign exchange movements, as the Indian rupee breached the 96 per dollar mark to close at 96.31 against the US currency, marking its weakest standing in over two months.

## Global Market Dynamics and Analyst Observations
Overseas bullion boards posted steady gains during the session. Spot gold ticked higher by 11.94 dollars or 0.29 percent to 4169.06 dollars per ounce, while international spot silver advanced by roughly 1 percent to trade at 60.79 dollars per ounce. Lemon head of research Gaurav Garg noted that softening US consumer price pressures reduced expectations regarding future Federal Reserve policy tightening, helping gold stay firm even as dollar resilience kept silver choppy.

Mirae Asset Sharekhan commodity head Praveen Singh observed that while tame inflation readings supported precious metal values, surging crude oil prices capped wider upside due to persistent uncertainties surrounding the Strait of Hormuz. HDFC Securities senior analyst (commodity) Saumil Gandhi added that bullion investors are closely monitoring forthcoming macroeconomic releases, specifically US ISM manufacturing PMI prints, weekly jobless filings, and official commentary from Federal Reserve authorities to gauge the trajectory of future interest rates.

## What this means for you
The sudden divergence between gold and silver directly impacts the planning of retail jewelry buyers and commodity investors.

- **Across India:** Retail buyers purchasing silver jewelry or silverware receive immediate price relief following the steep correction. A weekly drop of 10,000 rupees per kilogram materially lowers procurement costs for consumer gifts and festive preparations.
- **In Delhi:** Local physical bullion trading counters remain shut on Friday on account of Gandhi Jayanti. Consumers scheduling over-the-counter physical deliveries or jewelry purchases must postpone retail visits until regular operations resume on Saturday.
- **For Investors:** Persistent currency depreciation blunts global declines and keeps domestic landed gold elevated. The rupee weakening past 96 per dollar ensures that import parity pricing remains structurally high for domestic bullion holdings.
- **For Commodity Traders:** Heightened crude volatility linked to the Strait of Hormuz will keep metal spreads erratic in near-term sessions. Market participants should track incoming US manufacturing data and central bank commentary before initiating fresh directional positions.

## Why this happened
The divergence in bullion prices stemmed from a sharp slide in the domestic exchange rate alongside evolving macroeconomic developments in the United States.

- **Depreciation of the Rupee:** The domestic currency retreating to 96.31 against the greenback served as the primary buffer supporting domestic gold prices. Touching its weakest valuation in over two months heightened landed import costs, insulating local quotes from steeper global pullbacks.
- **Softening US Inflation Metrics:** Cooler inflation numbers released in the United States tempered market expectations of further aggressive rate hikes from the Federal Reserve. Diminishing rate anxiety boosted investor appetite for non-yielding bullion across international trading desks.
- **Crude Spikes and Regional Friction:** Lingering maritime supply risks around the Strait of Hormuz triggered a surge in global crude oil benchmarks. Rising energy prices exerted counterbalancing pressure, capping what would have otherwise been a broader rally across precious metal contracts.

## Questions & Answers

### 1. What was the latest gold price recorded in Delhi?
On Thursday, 99.9 percent pure gold increased by 500 rupees to settle at 1,49,800 rupees per 10 grams in Delhi's bullion market.

### 2. How much did silver prices fall in a single day?
Silver plunged by 5000 rupees to land at 2.27 lakh rupees per kilogram.

### 3. What was the weekly trend for both precious metals?
Over the week, gold fell by 2800 rupees or about 2 percent, while silver declined by 10,000 rupees or 4.2 percent.

### 4. Why is the Delhi bullion market closed on Friday?
Physical bullion counters in Delhi are closed on Friday in observance of Gandhi Jayanti.

### 5. At what exchange rate did the Indian rupee close against the US dollar?
The Indian rupee closed at 96.31 against the dollar, touching its weakest level in more than two months.

### 6. What were the prevailing prices of precious metals in overseas markets?
Spot gold climbed 0.29 percent to 4169.06 dollars per ounce, and silver advanced by roughly 1 percent to 60.79 dollars per ounce.

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