Gold Tumbles ₹2,800, Silver Slips ₹5,000 in Delhi as Global Cues Weaken Market Sentiment

New Delhi witnessed a sharp correction in precious metal prices on Thursday as both gold and silver recorded significant declines amid weak global cues and subdued demand in the domestic market.

According to the All India Sarafa Association , gold of 99.9 per cent purity fell by ₹2,800 to settle at ₹1,45,300 per 10 grams (inclusive of taxes) , compared to the previous close of ₹1,48,100 per 10 grams. The drop reflects continued volatility in the global bullion market and cautious investor sentiment.

Silver also saw a steep fall, declining by ₹5,000 to ₹2,26,000 per kilogram (inclusive of taxes) , down from ₹2,31,000 per kg in the previous session. Traders attributed the decline to weaker industrial demand outlook and overall softness in global commodity trends.

On the international front, spot gold slipped by USD 21.15 or 0.53 per cent to USD 3,978.06 per ounce , while silver also weakened by 0.56 per cent to USD 57.10 per ounce . The global decline further weighed on domestic prices, amplifying the downward pressure in Indian markets.

Market experts said investors are currently exercising caution as global economic signals remain mixed, leading to fluctuations in safe-haven demand for precious metals. The absence of strong buying interest in the domestic market also contributed to the decline.

Overall, the trading session reflected a broad-based weakness in bullion, with both metals tracking international trends closely. Analysts expect continued volatility in the near term depending on global economic indicators and currency movements.