NEW DELHI— Prices of gold and silver fell on Tuesday following a two-day upward trend, as heightened global uncertainty over US tariff policy weighed on investor sentiment.
According to the India Bullion Jewellers Association (IBJA), the price of 24-carat gold declined by ₹387, falling from ₹98,303 to ₹97,916 per 10 grams. Similarly, 22-carat gold dropped by ₹354 to ₹89,691, while 18-carat gold slid from ₹73,727 to ₹73,437, a decline of ₹290.
“Continued tariff escalations by the US on global partners have kept uncertainty high, supporting safe-haven buying in gold,” said Jateen Trivedi, Analyst at LKP Securities.
Silver also saw a sharp correction. The price per kilogram fell by ₹1,870 to ₹1,11,997 from ₹1,13,867.
In the futures market, however, gold and silver showed mixed trends. Gold futures expiring August 5, 2025, inched up 0.04 percent to ₹97,815 on the Multi Commodity Exchange (MCX). In contrast, silver futures for delivery on September 5 declined by 0.29 percent to ₹1,12,611.
International markets also reflected divergent movements. On the Comex, silver prices fell 0.38 percent to $38.59 per ounce, while gold rose 0.21 percent to $3,366.20 per ounce.
“Gold prices stayed in a narrow range of ₹97,750–₹98,050 as Comex gold traded positive near $3,365 with a $20 rise,” Trivedi noted, adding that the metal remains volatile ahead of key U.S. Consumer Price Index (CPI) data due this week.
Despite the fluctuations in futures and global markets, the decline in spot prices offered a temporary buying opportunity for consumers looking to invest in precious metals at reduced rates. (Source: IANS)
