New Delhi: A sharp decline was recorded in the prices of Gold and Silver. In the retail market, gold declined by Rs 1,450, while silver dropped by Rs 3,320. After this, 24-carat gold reached Rs 155,070 per 10 grams. Meanwhile, silver went down to Rs 237,880 per kilogram. On MCX as well, the prices of both remain weak. Prices are also soft in the international market.
The price of 24-carat gold stood at Rs 155,070 per 10 grams. It has recorded a decline of 0.93 percent, or Rs 1,450, today. Meanwhile, 22-carat gold is at the level of Rs 142,148 per 10 grams.
Silver price today
Silver 999 price was recorded at Rs 237,880 per kilogram. Compared to the previous day, silver declined by 3.3 percent, or Rs 8,180. Over the past week, silver prices have declined by about 9.81 percent. This has created a pressured environment in the market.
Speaking exclusively to News9, Ajay Suresh Kediathe founder of Kedia Advisory stated that Gold edged lower by more than 1% to $4,990, while silver declined nearly 1.80%, slipping below $76, as the U.S. dollar strengthened. The pullback followed a sharp rally in the previous session, when bullion surged over 2% after cooler-than-expected U.S. inflation data boosted expectations of interest rate cuts by the Federal Reserve.
According to data from the U.S. Department of Labor, the Consumer Price Index (CPI) rose 0.2% in January, below economists’ expectations of a 0.3% increase, and compared with an unrevised 0.3% gain in December. The softer inflation reading reinforced market bets on monetary easing, Kedia added.
Gold and Silver Market Outlook
Market participants now anticipate a cumulative 75 basis points of rate cuts this year, with the first reduction expected in July, according to data compiled by London Stock Exchange Group (LSEG).
In parallel, reports suggest that the Federal Reserve is expected to appoint Randall Guynn as its new Director of Supervision and Regulation, positioning a seasoned Wall Street banking expert in a key oversight role.
Geopolitical tensions also remain in focus. Reports indicate that the U.S. military is preparing for the possibility of sustained operations against Iran if ordered by President Donald Trump, raising concerns about a potential escalation. Meanwhile, Benjamin Netanyahu stated that any U.S. agreement with Iran must include the dismantling of Iran’s nuclear infrastructure, rather than merely limiting uranium enrichment.
Kedia said Gold broader trend remains weak as long as prices trade below $5,020. On the downside, gold may retest the $4,960–$4,936 zone. A sustained move above $5,020 could trigger upside momentum toward the next resistance at $5,056.
On Silver, the Commodity expert said Silver trend remains weak while prices stay below $79.20. On the downside, silver may retest the $74.80–$73.20 range. A decisive break above $79.20 would shift momentum toward the next resistance at $81.60.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver, crypto assets and commodities like Copper, aluminium.)
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