Gold Tumbles as Global Bearish Trends Emerge: A Market Insight

Gold prices in the national capital fell by Rs 400 to Rs 78,300 per 10 grams due to increased selling by stockists amid bearish global trends. Similarly, silver remained flat at Rs 94,000 per kg. The decline in gold prices is attributed to lacklustre demand from local jewellers.

In a significant market shift, gold prices in the national capital retreated sharply by Rs 400, settling at Rs 78,300 per 10 grams on Tuesday. The decline follows a bearish trend in global markets, prompting stockists to sell.

Silver, meanwhile, held steady at Rs 94,000 per kg amid profit booking influenced by lower trading figures in overseas markets. The dip in both metals, especially gold, reflects tepid demand from local jewellers amid global market tensions.

Market analysts noted the impact of geopolitical tensions in the Middle East and expectations surrounding US interest rate cuts as key factors influencing precious metal prices. As the market anticipates the release of key economic indicators, including the US CPI and PPI, gold's market trajectory remains under watch.

(With inputs from agencies.)