Dollar Surge Dims Gold's Glimmer: A Market Analysis

Gold prices experienced a sharp decline, plunging by Rs 1,250 to Rs 78,150 per 10 grams in New Delhi, attributed to a strengthening dollar influenced by geopolitical dynamics. Silver also saw a decline. Meanwhile, gold futures slightly rose on the MCX, indicating expected market volatility.

Gold prices took a notable tumble in New Delhi, falling Rs 1,250 to Rs 78,150 per 10 grams due to a strengthening US dollar. The All India Sarafa Association reported the decline amid international market pressures.

Silver echoed this trend, sliding Rs 1,100 to Rs 90,600 per kg. Analysts linked investor preference for the dollar to geopolitical signals, such as impending US tariffs.

In contrast, gold futures on the MCX observed a minor rise, hinting at anticipated market volatility as traders examine global economic shifts and upcoming US economic data releases.

(With inputs from agencies.)