Gold Silver Prices Fall: Gold Silver Prices Fall Amid West Asia Tensions
Gold and silver prices declined in Hyderabad as renewed West Asia tensions pushed crude oil higher while precious metals saw weaker demand across global markets.
Gold Silver Prices Fall: The price of 24 carat gold stood at about Rs 1.55 lakh for 10 grams in the Hyderabad market. On Tuesday, the same quantity was priced at around Rs 1.57 lakh, meaning buyers saw a reduction of nearly Rs 2,000.
Silver prices also moved down. A kilogram, which was selling for Rs 2,37,486 a day earlier, came down to Rs 2,34,478. The fall works out to roughly Rs 3,000 per kg.
There was a similar movement in the futures segment. Gold futures were quoted at Rs 1,50,143 for 10 grams, while silver futures stood at Rs 2,32,625 per kg. In overseas markets, spot gold was around 4,307 dollars and spot silver was trading at 63.79 dollars.
The price movement comes at a time when West Asia is once again facing heightened uncertainty. Normally, such developments can push investors towards gold. This time, however, bullion prices have moved in the opposite direction.
Gold continues to remain an important purchase for Indian households, particularly during the wedding and festive seasons. At the same time, investors closely track international prices before taking positions in the domestic market.
For now, traders are keeping an eye on crude oil, global market sentiment and developments in West Asia. Any major change on these fronts could influence gold and silver prices in the coming sessions.
