Gold Prices Plunge Amid US Tariff Tensions

Gold prices in the national capital fell by Rs 1,350 to Rs 93,000 per 10 grams as the international market trend weakened, ending a five-day bullish run. The drop followed US tariffs under President Trump, shifting investor focus to global trade dynamics, with silver also seeing significant declines.

Gold prices in the national capital saw a significant drop of Rs 1,350, falling to Rs 93,000 per 10 grams on Friday, as international markets displayed a weak trend, according to the All India Sarafa Association. This decline halts a record-setting five-day rally for the precious metal in the region.

On Thursday, the gold with 99.9 per cent purity reached a fresh peak of Rs 94,350 per 10 grams, an increase of Rs 200. Similarly, gold of 99.5 per cent purity saw a decline of Rs 1,350, settling at Rs 92,550 per 10 grams, down from a previous high of Rs 93,900 per 10 grams.

According to Chintan Mehta, CEO of Abans Financial Services, the reduction in gold prices is linked to a diminished safe-haven demand after new tariffs were implemented by US President Trump. Meanwhile, silver prices plummeted by Rs 5,000, marking its steepest fall in four months.