World · India Bureau
Gold and silver prices slip across India's major markets
Precious metals have weakened both domestically and internationally, with silver dropping sharply on commodity exchanges. Analysts warn of further downside pressure amid concerns over U.S. inflation and interest rate hikes.
LSN India ·
Gold and silver prices declined across India's major trading hubs on October 30, tracking weakness in international commodity markets. Silver futures fell sharply on the Multi Commodity Exchange, slipping below the 2,500 rupee mark, while gold also came under pressure from selling interest.
The retreat in precious metals comes amid growing concerns about inflation persistence in the United States and the possibility of higher interest rates ahead. A stronger U.S. dollar, typically inverse to gold prices, has also weighed on sentiment toward the yellow metal.
Market analysts flagged additional downside risks for silver in the near term, citing ongoing macroeconomic headwinds and profit-taking after recent trading sessions. The weakness in both metals reflects investor caution as central banks worldwide grapple with inflation management.
Domestic demand for gold and silver in India, traditionally buoyant during the festive season, remains measured as consumers adopt a wait-and-watch approach amid price volatility. Jewelers and traders are monitoring international cues closely for signs of stabilization before making fresh commitments.