Silver prices fell by ₹4,000 to ₹1.98 lakh per kilogram, while gold declined by ₹500 per 10 grams amid global market pressure and investor caution.
Silver prices in India dropped to their lowest level in ten months on October 27, falling by ₹4,000 to ₹1.98 lakh per kilogram, according to a Press Trust of India report. Gold prices also declined, reflecting weakness in precious metals markets.
Gold of 99.9% purity fell by ₹500 to ₹1,45,800 per 10 grams. The decline came as investors assessed global market conditions, currency movements and expectations surrounding monetary policy.
In international markets, spot gold edged lower to $4,011.44 per ounce, while silver fell by more than 1% to $53.41 per ounce. The global price movements contributed to pressure on domestic precious metal prices.
Market participants pointed to a stronger US dollar and investor sentiment as factors influencing precious metals. A stronger dollar can make gold and silver more expensive for buyers using other currencies, potentially affecting demand.
According to market analysts cited in the report, gold’s recent consolidation and selling pressure in silver reflected changing investor expectations. Precious metals can experience volatility as traders respond to economic indicators, currency movements and interest-rate outlooks.
Investors were also monitoring the US Federal Reserve’s monetary policy decision scheduled for October 28. Expectations around interest rates can influence gold and silver because these assets do not pay interest, making their relative appeal sensitive to changes in borrowing costs and bond yields.
Analysts said domestic gold prices could remain volatile in the near term. The direction of prices will depend on global market trends, currency movements, investor demand and developments in monetary policy.
