Gold Prices Drop Amid Profit Booking, US Dollar Strength Gold prices in New Delhi fell by Rs 600 to Rs 1,66,500 per 10 grams on Wednesday, ending a four-day rally. The decline came amid weak trends in international markets and traders booking profits after a strong multi-week uptrend. The yellow metal of 99.9 per cent purity had previously closed at Rs 1,67,100 per 10 grams. Meanwhile, silver rebounded modestly, rising Rs 500 to Rs 2,50,500 per kilogram, according to the All India Sarafa Association. Analysts attributed the gold price drop to a strengthening US dollar ahead of the US Personal Consumption Expenditures (PCE) inflation report. Akshat Siddhant, Lead Quant Analyst at Mudrex, noted that gold had reached fresh multi-month highs this year due to the US Treasury’s debt-buyback program, lower bond yields, and steady purchases by China’s central bank. However, the recent decline signaled a pause in the rally as traders adjusted positions. Global markets also saw spot gold fall USD 39.66, or nearly 1 per cent, to USD 4,619.21 per ounce, while silver dipped slightly to USD 68.50 per ounce. Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, explained that gold had consolidated after five consecutive days of gains, reflecting cautious sentiment. He also mentioned that crude oil prices extended their decline due to concerns over reduced supply, with Iran and Oman pushing for a temporary opening of the Strait of Hormuz. Investors have shown increased interest in gold-backed exchange-traded funds, according to Singh. Looking ahead, Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, highlighted that the US Federal Reserve’s approach to inflation and monetary policy could influence the US dollar, Treasury bond yields, and precious metals.#us_dollar #mirae_asset_sharekhan #hdfc_securities #all_india_sarafa_association #mudrex
Gold Prices Drop Rs 600 After Four-Day Rally, Silver Edges Higher Gold prices declined by Rs 600 to Rs 1,66,500 per 10 grams in Delhi on Wednesday, snapping a four-day upward trend amid profit-taking and a strengthening US dollar. The yellow metal of 99.9 per cent purity had closed at Rs 1,67,100 per 10 grams in the previous session. Silver prices rebounded modestly, rising Rs 500 to Rs 2,50,500 per kilogram (inclusive of all taxes) from Tuesday’s closing level of Rs 2.5 lakh per kg, according to the All India Sarafa Association. The decline in gold prices was attributed to traders booking profits after a sustained rally, with analysts noting that the metal’s recent gains were partly fueled by the US Treasury’s debt-buyback program, lower bond yields, and steady purchases from China’s central bank. Akshat Siddhant, Lead Quant Analyst at Mudrex, highlighted that the decline reflected a shift in investor sentiment as the US dollar strengthened ahead of the release of the US Personal Consumption Expenditures (PCE) inflation report. He emphasized that gold’s performance had been supported by a combination of monetary policy measures and geopolitical tensions, which had kept demand for safe-haven assets elevated. In global markets, spot gold prices fell by nearly 1% to USD 4,619.21 per ounce, consolidating after five consecutive days of gains. Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, noted that the decline was part of a broader correction as investors reassessed risk appetite. Meanwhile, silver prices dipped slightly to USD 68.50 per ounce, though the metal remained resilient amid continued industrial demand. The decline in gold prices coincided with broader market trends, including a drop in crude oil prices due to concerns over supply stability.#us_treasury #mirae_asset_sharekhan #hdfc_securities #all_india_sarafa_association #mudrex
Gold & Silver Prices Drop Amid Dollar Strength and US Rate Outlook Gold and silver prices continued their decline in Delhi for the fourth consecutive day, driven by a strong US dollar and expectations of sustained high interest rates. On Friday, gold fell Rs 2,840 to Rs 1.5 lakh per 10 grams, while silver hit a two-month low of Rs 2.4 lakh per kilogram, according to the All India Sarafa Association. The yellow metal, priced at 99.9% purity, dropped to Rs 1,50,600 per 10 grams from Rs 1,53,440 the previous day. Silver, meanwhile, plunged Rs 8,040 to Rs 2,40,700 per kg, its lowest level since April 7. Analysts attributed the slump to growing investor preference for the dollar amid anticipation that US interest rates will remain elevated. Saumil Gandhi of HDFC Securities noted that the dollar index reached a one-year high, intensifying pressure on precious metals. "The strength of the US dollar is negatively impacting market sentiment," he said, adding that gold now faces a third weekly loss after reversing from earlier record highs. Pankaj Singh of SmartWealth AI highlighted the correction as a result of prolonged high interest rates, which have pushed Treasury yields higher and increased the opportunity cost of holding non-yielding assets like gold. Internationally, spot gold fell 1.44% to USD 4,148.45 per ounce, while silver dropped 1.51% to USD 64.73 per ounce. Market uncertainty also stemmed from the US-Iran peace agreement, which faced delays due to geopolitical tensions. US Vice-President J D Vance canceled a planned visit to Switzerland, and Iran postponed sending its delegation following Israeli strikes in Lebanon.#us_dollar #mirae_asset_sharekhan #hdfc_securities #all_india_sarafa_association #smartwealth_ai
The Indian rupee fell 82 paise, or nearly 1%, to reach an all-time low of 93.71 (provisional) against the U.S. dollar on Friday, March 20, 2026. The decline was driven by ongoing foreign fund outflows and a sharp increase in global crude oil prices amid rising geopolitical tensions. Forex traders noted that the rupee faced significant pressure as surging oil prices and a shift toward risk-averse investing dampened investor confidence. Heightened geopolitical uncertainties, particularly in the Middle East, are expected to keep energy costs elevated, potentially widening India’s trade deficit and fueling inflationary pressures. The rupee opened at 92.92 against the dollar on Friday but quickly broke through the 93 mark, continuing to weaken throughout the session before closing at 93.71. This marked a new record low for the currency, following its previous all-time low of 92.89 on Wednesday, March 18, 2026. Anuj Choudhary, a research analyst at Mirae Asset Sharekhan, attributed the rupee’s decline to geopolitical tensions in West Asia and the outflow of foreign institutional investors. He also highlighted the impact of rising global crude oil prices, which have further strained the currency. Choudhary noted that all major central banks, including the U.S. Federal Reserve, European Central Bank, Bank of England, and Bank of Japan, maintained their interest rates unchanged in recent policy meetings, citing inflation concerns. The dollar index, which measures the U.S. dollar’s strength against a basket of six currencies, rose 0.35% to 99.58. Meanwhile, Brent crude, the global oil benchmark, climbed 1.84% to $110.7 per barrel in futures trading. On the domestic equity market, the Sensex rebounded from its previous day’s crash, gaining 0.44% to 74,532.96, while the Nifty rose 0.49% to 23,114.50.#brent_crude #us_dollar #indian_rupee #anuj_choudhary #mirae_asset_sharekhan
