World · India Bureau
Gold Slips Below Rs 1,42,000 Mark As Silver Plummets
Domestic precious metals extended losses on Monday, with gold breaking below the Rs 1,42,000 level while silver suffered sharper declines. The pullback mirrors weakness in international commodity markets, though gold is holding up relatively better than its sister metal.
LSN India ·
Gold prices on the Multi Commodity Exchange (MCX) dipped below the Rs 1,42,000 per gram level as the yellow metal tracked broader weakness in global COMEX gold futures. The correction, though notable, has been more contained compared to the sharp selloff witnessed in silver markets.
Silver bore the brunt of Monday's selling pressure, plunging by Rs 5,400 per kilogram as risk-off sentiment gripped commodity markets. The white metal's steeper decline underscores the divergence in investor sentiment between gold, traditionally viewed as a safe-haven asset, and silver, which carries greater industrial demand exposure.
Analysts pointed to the synchronized downturn in international precious metals markets as the primary driver of domestic price movements. Gold's relatively resilience despite the decline suggests continued underlying demand for the metal as a hedge against macroeconomic uncertainties.
The near-term outlook for precious metals remains cautious, with traders monitoring global economic indicators and central bank policy signals for directional cues. Market participants are advised to track both domestic and international price movements closely as volatility persists across commodity markets.