Gold, Silver Dip Further Amid Market Volatility
By KUNAL CHATTERJEE
Gold and silver prices slipped again today after a volatile week, giving some relief to buyers but worrying small investors.
In India, 24-karat gold is hovering around ₹16,200 per gram, or roughly ₹1,62,000 per 10 grams, after a fresh dip.
Prices are down about 1 percent from the previous close, continuing the downward trend seen over the past few sessions.
On the Multi Commodity Exchange (MCX), gold futures are trading near the ₹1.60 lakh per 10 grams mark, only slightly off the lows touched this week.
The fall has been driven by a stronger US dollar and changing global risk sentiment, as investors shift some money away from safe-haven assets.
Many small investors who entered at higher levels are now sitting on notional losses, while jewellers are seeing slightly better footfall thanks to the softer rates.
Silver has seen a sharper cut than gold. Retail silver prices in India are around ₹280 per gram, or about ₹2,80,000 per kilogram, down ₹10 per gram from yesterday.
Just a day ago, one kilo of silver was trading near ₹2,90,000, which means a drop of about ₹10,000 per kilo over 24 hours.
Traders say the white metal is reacting more strongly to global growth worries, because silver is used both in industry and in jewellery.
Some short-term speculators have booked profits after the recent spike, adding to the selling pressure.
For households planning weddings or festive purchases, today’s dip offers a slightly better entry point, though prices are still high compared to earlier months.
Many jewellers are advising customers to stagger their buying instead of putting all their money on a single day’s rate, given the current volatility.
For small investors in gold and silver, experts suggest staying calm and focusing on the long term rather than panicking over daily moves.
Markets remain sensitive to global cues such as interest rate expectations, geopolitical tensions and the movement of the US dollar, so more ups and downs cannot be ruled out in the coming days.
