Gold and Silver Prices Tumble Amid Geopolitical Calm

Gold and silver prices fell as traders took profits amid a stronger US dollar and easing geopolitical tensions. Gold and silver futures dropped significantly on the MCX, following record highs. The US presidency's geopolitical shifts led to reduced safe-haven demand, causing the metals' descent.

Gold and silver prices saw a decline in futures trading on Thursday, influenced by traders capitalizing on profits at elevated levels as the US dollar gained strength and geopolitical tensions eased.

The Multi Commodity Exchange reported that gold futures for February delivery decreased by Rs 1,088, marking a 0.71 percent fall, amidst a business turnover involving 11,996 lots, following a previous surge to an all-time high before closing lower.

Simultaneously, silver futures for March delivery diminished by Rs 1,534, or 0.48 percent, marking a reprieve from its earlier record rally. Market dynamics and shifts in US foreign policy have contributed to this market adjustment.

(With inputs from agencies.)