Gold Prices Slip Weekly As Profit Booking Offsets Late Gains; Silver Holds Firm

Gold prices ended the week slightly lower as investors booked profits, even though gains were recorded in the final trading sessions.

On the domestic front, futures on the Multi Commodity Exchange of India showed mixed movement on Friday.

Gold contracts for June delivery rose modestly, while silver contracts for May delivery posted stronger gains. Gold futures were trading near Rs 1.52 lakh, while silver hovered around Rs 2.44 lakh per kilogram.

According to data from the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold declined over the week, with 10 grams quoted lower on Friday compared to the opening levels earlier in the week.

Internationally, bullion prices found support towards the end of the week, helped by easing bond yields and renewed optimism around diplomatic developments involving the United States and Iran.

Gold briefly climbed above the $4,700 per ounce mark as lower yields improved its appeal.

Market participants noted that buying interest emerged at lower price levels, though overall sentiment remained cautious.

Continued geopolitical uncertainty has prevented a clear directional trend in precious metals.

Reports of diplomatic activity, including the visit of Iran’s foreign minister to Islamabad and the expected arrival of US representatives, raised hopes of progress. Mixed signals from Iranian officials kept uncertainty intact.

Analysts said safe-haven demand has moderated slightly but remains supportive, limiting sharper declines. They added that prices could continue to move within a narrow range unless new global triggers emerge.

In overseas markets, gold traded in the $4,720–$4,750 range on COMEX, recording weekly gains, though resistance near the $5,000 level remains a key hurdle.

Silver prices, meanwhile, stayed around the $75–$76 band, indicating consolidation after recent highs.

Experts cautioned that any escalation in geopolitical tensions or shifts in currency movements could lead to increased volatility in commodity markets going forward.