Gold Prices Drop Rs 900 to Rs 1.47 Lakh per 10 Grams in Delhi Amid Strong Rupee and Weak Global Demand Gold prices in Delhi fell by Rs 900 to Rs 1.47 lakh per 10 grams on Monday, driven by a stronger Indian rupee and subdued activity in international markets. The decline, reported by the All India Sarafa Association, saw the yellow metal of 99.9 per cent purity trade at Rs 1,47,400 per 10 grams (inclusive of all taxes), down from Rs 1,48,300 per 10 grams in the previous session. Analysts attributed the drop to a combination of factors, including the rupee’s appreciation and limited buying interest from investors. Saumil Gandhi, a senior commodities analyst at HDFC Securities, noted that gold prices remained in a narrow range due to weak international demand and cautious investor behavior ahead of key US economic data releases. “The absence of fresh buying interest and a wait-and-see approach from investors are limiting further gains,” Gandhi said. Silver, however, showed a rebound, rising Rs 1,800 to Rs 2,26,500 per kilogram from its previous closing level of Rs 2,24,700 per kg. Gaurav Garg, head of research at Lemonn Markets Desk, explained that the metal’s recovery was fueled by improved sentiment following a weaker US dollar and easing oil prices. “Investors are increasingly favoring precious metals as geopolitical tensions ease and energy markets stabilize,” Garg added. On the global front, spot gold prices edged up to USD 4,048.89 per ounce, while silver rose marginally to USD 57.97 per ounce. Kaynat Chainwala, AVP commodity research at Kotak Securities, highlighted that the metals’ gains were supported by falling oil prices and reduced geopolitical tensions, particularly after US President Donald Trump canceled planned strikes against Iran.#hdfc_securities #all_india_sarafa_association #saumil_gandhi #gaurav_garg #lemonn_markets_desk
