Gold Steady At ₹1.46 Lakh, Silver Falls ₹1,500

Gold prices in the national capital remained steady for the second consecutive day at ₹1,46,300 per 10 grams on Thursday. However, silver prices declined by ₹1,500 to ₹2,24,500 per kilogram due to subdued global trends.

The All India Sarafa Association reported that gold of 99.9 per cent purity traded flat at ₹1,46,300 per 10 grams. On the other hand, silver has been under pressure for the fourth consecutive session, with a decline of ₹12,500 or 5.3 per cent in the last four sessions.

Traders attributed the steady gold prices to balanced local demand, while silver remained under pressure due to sustained profit-booking and subdued industrial buying. According to Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, gold traded in a narrow range due to softer-than-expected US inflation data and escalating geopolitical tensions in West Asia.

Renisha Chainani, Head - Research at Augmont, stated that silver prices declined due to the escalating conflict in West Asia, which erased optimism over easing inflation and stirred worries about rising oil prices and their impact on interest rates. In the global markets, spot gold slipped by $29.54 to $4,030.84 per ounce, while silver declined by 1.7 per cent to $56.79 per ounce.

Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, noted that spot gold was trading lower due to heightened tensions between the US and Iran. The latest skirmish has entered its fifth day, with US President Donald Trump threatening to continue striking Iran until it returns to the negotiation table.

Investors are now awaiting US retail sales data and jobless claims, which could provide insights into the strength of the American economy and the Federal Reserve's interest rate trajectory. According to Gaurav Garg, Research Analyst, Lemonn Markets Desk, this data will be crucial in determining the future direction of gold and silver prices.

The decline in silver prices can be attributed to the strong US dollar and rising oil prices, which have reduced the appeal of silver as a safe-haven asset. However, the steady gold prices suggest that investors are still cautious about the global economic outlook and are seeking safe-haven assets.

In the context of the Indian market, the steady gold prices and decline in silver prices may impact the demand for these metals in the coming days. The Indian government has been trying to reduce the country's dependence on gold imports, and the current price trend may affect this effort.

Overall, the gold and silver prices will continue to be influenced by global trends, including geopolitical tensions, inflation data, and interest rate decisions. Investors will be closely watching the developments in the US and other major economies to determine the future direction of these precious metals.

The steady gold prices and decline in silver prices have significant implications for the Indian economy, particularly for the gems and jewellery industry. The industry is a major contributor to the country's exports, and any changes in gold and silver prices can impact the industry's performance.

In conclusion, the gold prices remaining steady at ₹1,46,300 per 10 grams and silver prices declining by ₹1,500 to ₹2,24,500 per kilogram reflect the current global trends and investor sentiment. The prices of these precious metals will continue to be influenced by various factors, including geopolitical tensions, inflation data, and interest rate decisions, and will have significant implications for the Indian economy and the gems and jewellery industry.