Prices of precious metals fell for the third consecutive day in the national capital on Friday. Gold fell by Rs 200 and silver by Rs 3,000 under pressure from a strong US dollar and global uncertainty. According to All India Bullion Association data, gold of 99.9% purity declined by Rs 200 to Rs 1,55,900 per 10 gram (including all taxes), compared to Rs 1,56,100 per 10 gram in the previous session. Similarly, silver prices also saw a sharp fall and fell by Rs 3,000 to Rs 2,47,000 per kg (including all taxes), while the previous closing was Rs 2,50,000 per kg.
Gold near two-week low
Saumil Gandhi, commodity analyst at HDFC Securities, said gold continues to be under pressure and is trading near two-week low. He said that due to the ongoing geopolitical tension in West Asia, investor sentiment remains cautious. According to Gandhi, energy prices remain high due to tensions in the Strait of Hormuz, increasing inflation fears and limiting gold’s upside. Apart from this, strong dollar and stability in US bond yields have also put pressure on gold. The dollar index’s weekly rise after three weeks of decline has hit demand for non-yielding assets such as gold.
price in international market
In the international market, spot gold remained marginally higher at $ 4,708.17 an ounce, while silver rose by about 1% to $ 75.96 an ounce. Jatin Trivedi, Vice President (Commodity and Currency Research), LKP Securities, said that the main impact on the market is the events in West Asia, especially the tensions related to Iran, Israel and America, due to which there is uncertainty. He said that until a clear solution emerges, gold will continue to fluctuate and prices will mainly depend on news flow.
What will the prices depend on in the coming days?
Kainat Chenwala, AVP (Commodity Research), Kotak Securities, said that according to preliminary data from the University of Michigan, inflation expectations for April rose to 4.8%, the fastest monthly rise since April 2025. He said that in the coming days, the final data and signals from the US Federal Open Market Committee (FOMC) meeting to be held on April 28-29 will play an important role in determining the direction of gold and silver prices.
