Gold Falls Rs 100 to Rs 1,24,600 per 10g in Delhi Amid Market Uncertainty
Gold prices in Delhi dropped by Rs 100 to Rs 1,24,600 per 10 grams due to increased selling by jewellers and stockists, despite global gains. Silver prices remained stable at Rs 1,53,300 per kilogram. Market experts attribute the local decline to selling pressure, while global gold prices rose amid fears of an AI-driven equity bubble and ongoing US government shutdown.
On Friday, gold prices in Delhi fell by Rs 100 to Rs 1,24,600 per 10 grams, influenced mainly by fresh selling from jewellers and stockists, according to the All India Sarafa Association. The 99.5% purity gold price slid from the previous close of Rs 1,24,700 per 10 grams, with 99.9% purity gold similarly affected. Silver prices remained unchanged at Rs 1,53,300 per kilogram, inclusive of taxes. Globally, spot gold rose by USD 19.84 (0.5%) to USD 3,996.93 per ounce, and spot silver also increased by 0.96% to USD 48.48 per ounce. Experts noted these global gains are driven by investors seeking safe-haven assets amid concerns about an AI-driven bubble in equity markets and uncertainty from the US government shutdown, now on its 38th day. This prolonged shutdown is impacting economic data releases and weighing on market sentiment. The dollar index weakened slightly, supporting gold prices further. Looking ahead, market participants are closely monitoring Federal Reserve speeches and US and Indian Consumer Price Index data for guidance on future gold trends.
