Gold, Silver Prices Slip As Investors Track Global Uncertainty

Gold and silver prices traded lower on Thursday as investors closely tracked safe-haven demand, geopolitical developments and movements in global commodity markets.

On the Multi Commodity Exchange (MCX), gold futures for June delivery fell as much as 0.42 per cent, or Rs 687, to touch an intraday low of Rs 1,59,319.

The yellow metal later traded around Rs 1,59,400, down 0.38 per cent during the session.

Silver futures for July delivery declined sharply by nearly 1.4 per cent, or Rs 3,864, to hit an intraday low of Rs 2,70,401. The metal later traded at Rs 2,70,810, remaining under pressure throughout the trading session.

Earlier in the day, gold and silver opened at Rs 1,59,900 and Rs 2,72,275, respectively, on the commodity exchange.

International precious metal prices also remained weak. COMEX gold traded lower at around 4,525.80 dollars per ounce, while COMEX silver slipped more than 1 per cent to 75.37 dollars per ounce.

Market analysts said silver opened sharply lower on the MCX and continued to trade cautiously above the Rs 2,72,000 level.

Experts identified the Rs 2,75,000 to Rs 2,76,000 range as an immediate resistance zone, adding that a sustained move above these levels could support recovery towards Rs 2,78,000 and Rs 2,80,000.

Analysts said silver prices could decline further towards the Rs 2,68,000–Rs 2,67,000 range if they fall below Rs 2,71,000, while geopolitical tensions and safe-haven demand remain key market drivers.

Experts added that gold continued to hold above Rs 1,59,500 despite weak sentiment, with global risk conditions likely to influence near-term prices.

Brent crude rose to 106.65 dollars per barrel, and US WTI crude climbed to 100.11 dollars per barrel, increasing concerns over inflation and market volatility.

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