Gold, silver prices ease on Dhanteras as profit-taking intensifies

Gold and silver prices softened on Dhanteras, the festival traditionally associated with buying precious metals, as profit-taking by investors and strength in the US currency pressured valuations in the domestic market.

Gold futures contracts on the Multi Commodity Exchange (MCX) were quoting near ₹1,42,450 per 10 grams, reflecting the downward movement from earlier peaks. Silver futures similarly declined, trading in the vicinity of ₹1,84,600 per kilogram on the same exchange.

The pullback in precious metal prices underscores the competing dynamics at play in global markets. While Dhanteras traditionally draws retail buyers to accumulate gold and silver, the rally in the US dollar index has made bullion denominated in foreign currency less attractive to international purchasers, limiting upside momentum.

Analysts attributed the decline to a combination of profit-taking by traders who had accumulated positions during the festival season and broader currency headwinds. The stronger dollar typically inversely impacts precious metals demand, as it makes bullion more expensive for buyers holding other currencies.

Market participants will continue monitoring currency movements and global economic signals that could influence precious metal trajectories in the coming sessions.