Gold Prices Retreat from Historic Highs Amid Market Volatility

Gold prices fell from historical records amid easing tariff concerns and global trends. The precious metal's value saw significant declines, touching Rs 99,200 per 10 grams in the domestic market. Meanwhile, the international market experienced high volatility with gold prices dropping to USD 3,316 per ounce.

Gold prices took a downturn on Wednesday in the national capital, declining by Rs 2,400 to settle at Rs 99,200 per 10 grams due to a weak global trend. On Tuesday, gold prices had surged to a lifetime high of Rs 1,01,600 per 10 grams.

The All India Sarafa Association reported that 99.5% purity gold saw a drastic reduction by Rs 3,400, a day after it soared Rs 2,800 to reach an all-time high. The drop in prices followed President Donald Trump's announcement of future tariff reductions on Chinese goods.

Despite a sharp sell-off, experts suggest gold's market volatility will persist, with an expected trading range between Rs 94,000-98,000 per 10 grams. In international markets, gold retreated to USD 3,316 per ounce. With the release of key economic data anticipated, further fluctuations are expected.

(With inputs from agencies.)