The Impressive TimesNew Delhi : Gold and silver prices continued their downward trend in the Indian futures market on Wednesday, reflecting the impact of global economic uncertainties and anticipation of US President Donald Trump’s upcoming speech. Investors closely monitored the market movement, awaiting fresh signals that could influence precious metal prices.
On the Multi Commodity Exchange (MCX), gold futures for April delivery opened at ₹86,058 per 10 grams, marking a decline of ₹55 or 0.06% compared to the previous close. Within a few minutes of the market opening, gold prices touched an intraday low of ₹85,980. By 10 AM, gold was trading at ₹85,959 per 10 grams, a 0.18% decline from the previous day’s close of ₹86,113.
Silver futures, maturing on March 5, 2025, also witnessed a downturn. The contract opened at ₹96,566 per kg, lower than its previous close of ₹96,848. As of the latest update, silver was trading at ₹96,585 per kg, reflecting a 0.27% decline.
In the global market, gold prices showed a slight dip as investors remained cautious ahead of key economic developments. On the COMEX, gold was trading around $2,944 per troy ounce. The spot gold price at 10:02 AM was recorded at $2,927.57 per ounce, as traders assessed the impact of economic policies and upcoming geopolitical events.
Silver prices also saw minor fluctuations across metro cities. In Delhi, silver was trading at ₹97,000 per kg, while in Mumbai, it was priced at ₹96,800 per kg.
Precious metals often act as a hedge against inflation and economic uncertainty. The upcoming speech by US President Donald Trump is being closely watched for policy signals that may impact gold prices.
A stronger US dollar typically leads to lower gold prices as it makes the metal more expensive for overseas buyers. Interest rate policies from the Federal Reserve and other central banks influence investor sentiment in the bullion market. As investors await further clarity on global economic developments, gold and silver prices may witness volatility in the coming days.
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