Whalesbook
Bullion Prices Tumble After Record Peaks
Silver prices plummeted ₹12,500 to ₹2,43,500 per kilogram in Delhi on Thursday. Gold also receded, dropping ₹900 to ₹1,40,500 per 10 grams. The declines followed a rush of global profit-booking after the precious metals hit record highs in the previous session.
The white metal had surged ₹5,000 on Wednesday to touch a record ₹2,56,000 per kg, according to the All India Sarafa Association. Gold of 99.9 per cent purity closed at ₹1,41,400 per 10 grams previously.
Global Factors Drive Sell-off
Gold extended its fall, weighed down by long liquidation as traders reduced positions. Easing safe-haven demand and a stable US dollar contributed to the downward pressure. Spot gold fell by 0.67 per cent to USD 4,426.91 per ounce internationally, while silver traded 3.22 per cent lower at USD 75.67 per ounce.
Investors adopted a cautious stance ahead of anticipated rulings on Trump tariffs by the US Supreme Court and the release of key December labour market data. These events acted as headwinds for bullion prices, according to analysts.
Outlook for Bullion
Analysts expect the ongoing corrective phase in bullion prices to continue. The market remains under pressure from position unwinding and cautious investor sentiment. Participants are awaiting Friday's non-farm payrolls report, which is likely to add volatility and provide further direction to bullion prices.