Gold and silver prices declined on Thursday amid weakness in global markets, with pressure in international precious metals markets reflecting in the domestic bullion market. Both gold and silver traded at lower levels compared with the previous trading session.
According to market experts, uncertainty surrounding U.S. monetary policy, movements in the U.S. dollar, global bond yields, and changes in investors' risk appetite have contributed to continued volatility in precious metal prices.
In the international commodity market, COMEX gold declined about 0.43% to trade near $4,034.40 per ounce on Thursday. Silver also fell about 0.34% to around $57.23 per ounce.
Analysts said cautious positioning by global investors and ongoing uncertainty over U.S. interest rates affected demand for precious metals.
The trend in international markets was also reflected in the domestic bullion market. In India, 24-carat gold was trading at around ₹1.41 lakh per 10 grams, while 22-carat gold was priced at approximately ₹1.30 lakh per 10 grams. The price of 18-carat gold stood at around ₹1.09 lakh per 10 grams.
Silver prices also declined, with the metal trading at approximately ₹2.20 lakh per kilogram. Prices may vary marginally across cities due to local taxes, transportation costs, and jewellers' margins.
