NEW DELHI— Gold and silver prices fell for the second consecutive day on Wednesday, as market uncertainty surrounding U.S. tariffs continued to weigh on investor sentiment.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold dropped by ₹416, falling from ₹97,916 to ₹97,500 per 10 grams. Similarly, 22-carat gold declined by ₹381, down from ₹89,691 to ₹89,310 per 10 grams.
Prices for 18-carat gold also slipped, dropping from ₹73,437 to ₹73,125 per 10 grams compared to the previous session.
Silver followed suit, declining ₹797 to ₹111,200 per kilogram, down from ₹111,997.
Analysts say upcoming U.S. economic data — including Producer Price Index (PPI) figures and weekly jobless claims — will play a key role in shaping short-term price movement.
Interestingly, while spot prices dropped, futures contracts showed modest gains. Gold futures for delivery on August 5, 2025, were trading at ₹97,415 on the Multi Commodity Exchange (MCX), up 0.21 percent. Silver futures for delivery on September 5, 2025, rose 0.29 percent to ₹111,805.
On the global front, both metals posted small gains. Gold climbed 0.27 percent to $3,345.60 per ounce on the COMEX, while silver rose 0.34 percent to $38.24 per ounce.
“Gold is currently in a consolidation phase, trading within a range of $3,300 to $3,500 per ounce,” said Carsten Menke, Head of Economics at Julius Baer. “The market lacks an immediate catalyst to resume the recent rally, despite a broadly supportive fundamental backdrop.”
He added, “Central bank buying remains healthy, though it has slowed compared to earlier in the year. We maintain a long-term positive outlook. Silver, on the other hand, has already seen a breakout, largely due to renewed investor interest. Its potential to catch up with gold appears to be mostly realized. We’re raising our price targets but downgrading our outlook to Neutral.” (Source: IANS)
