Not only in the futures market but also in the bullion market of Delhi, there is a continuous decline in the prices of gold and silver. In three trading days i.e. 72 hours, a fall of Rs 144,500 has been seen in the price of silver. Whereas gold has become cheaper by Rs 30 thousand per ten grams. If experts are to be believed, this decline will not stop. There may be a further decline in the prices of gold and silver in the coming days. Earlier on January 29, the prices of gold and silver had reached their peak. The price of silver had crossed the level of Rs 4 lakh. After that, as soon as Kevin Warsh’s name came up for the post of Fed Chairman. After that the prices of gold and silver started falling rapidly. Let us also tell you at what level the prices of gold and silver have reached in the Delhi bullion market.
Big fall in the prices of gold and silver
According to the All India Bullion Association, the price of the white metal fell by a huge Rs 52,000 or about 17 per cent to Rs 2,60,000 per kg (including all taxes). On Saturday, the price of the metal fell by a massive 19 percent or Rs 72,500 to Rs 3.12 lakh per kg. In the last three sessions, silver prices have fallen by Rs 1,44,500 or about 36 per cent from its all-time high of Rs 4,04,500 per kg recorded on January 29.
The price of gold of 99.9 per cent purity also got hit by selling and fell by Rs 12,800 or 7.73 per cent to Rs 1,52,700 per 10 grams (including all taxes) on Monday. In the last session, it was stable at Rs 1,65,500 per 10 grams. In the last three sessions, the price of the metal has fallen by Rs 30,300, or about 17 per cent, from its record high of Rs 1,83,000 per 10 gram recorded on January 29, as investors raced to book profits after the massive surge.
Why are the prices of gold and silver falling?
Manav Modi, Commodities Analyst, Motilal Oswal Financial Services Limited, said that gold and silver prices have fallen amid the rise in the US dollar and President Donald Trump’s tariff talks. Due to reduction in tension between America and Iran as well as increase in liquidity, the fears of American lockdown have once again been averted. Gaurav Garg, Research Analyst, Lemon Markets Desk, said that contrary to market expectations, there was no change in the import duty of gold and silver in the domestic markets in the Union Budget 2026-27, which potentially did not provide a short-term boost to prices in the country.
Gold and silver prices in global market
Gold and silver prices also fell in the global market, with the spot price falling by US $ 83.75 or 1.72 percent to US $ 4,781.60 an ounce. Spot prices of silver in foreign trade also fell by US $ 1.2 or 1.42 percent and reached US $ 83.49 an ounce. Praveen Singh, Research Analyst, Mirae Asset Sharekhan, said that spot gold started the week with a negative trend due to the strengthening of the dollar and President Trump’s nomination of Kevin Wersh as the next Fed Chairman and is continuously falling under heavy selling pressure.
What will investors keep an eye on?
Saumil Gandhi, senior analyst, commodities, HDFC Securities, said market participants will focus on developments in the Middle East as well as monetary policy decisions from Europe, Britain and India. He further said that on the economic front, traders will also keep an eye on key US data, including non-farm wages, unemployment rate and speeches from several Federal Reserve officials, which are expected to impact the precious metals market this week.