Gold and silver prices moved in different directions on Tuesday across global and domestic bullion markets. Gold prices edged lower in both international and Indian markets, while silver extended its gains toward higher levels.
In the international commodity market, COMEX gold declined in early Tuesday trade. Gold was trading about 0.28% lower at $4,027.50 per ounce. According to market experts, gold remained under pressure due to the strength of the US dollar, expectations surrounding global interest rates, and cautious investor sentiment.
COMEX Silver, meanwhile, traded about 0.36% higher at $57.735 per ounce. According to experts, silver continued to draw support from industrial demand and increased investor interest.
In India's domestic futures market, the Multi Commodity Exchange (MCX) also recorded weakness in gold prices. During trading, gold declined by around ₹300 to trade near ₹1,41,330 per 10 grams.
Silver prices on MCX remained volatile throughout the session. After initial weakness, prices recovered during trading and remained around ₹2.16 lakh per kilogram, indicating continued investor interest in the metal.
In the domestic bullion market, gold prices also registered a marginal decline. Average prices across major cities were approximately ₹1,42,110 per 10 grams for 24-carat gold, ₹1,30,268 per 10 grams for 22-carat gold, and ₹1,06,583 per 10 grams for 18-carat gold.
The average domestic silver price remained around ₹2,17,280 per kilogram. Prices may vary slightly across cities because of taxes, making charges, and local levies.
According to market analysts, the recent decline in gold prices has been driven by several global factors, including a ber US dollar, uncertainty surrounding the monetary policies of global central banks, and investors shifting toward risk assets. However, geopolitical tensions and economic uncertainties have continued to support demand for gold as a safe-haven investment, limiting sharper declines in prices.
According to experts, silver continues to benefit from its role as both a precious and industrial metal. Its use in solar panels, electronics, electric vehicles, medical equipment, and other high-technology industries has continued to expand. Experts said firm industrial demand and investments linked to the global energy transition have supported silver prices, resulting in ber performance compared with gold.
