Silver Prices Plummet ₹10,000 per Kg in Delhi Bullion Market
Gold and silver prices in Delhi's bullion market plummeted on Friday due to heavy selling pressure. Despite both precious metals gaining ground internationally, domestic demand weighed them down. Silver took the biggest hit, dropping by ₹10,000 per kg in a single session, while gold fell by ₹2,700 per 10 grams.
Silver prices dropped to ₹2,34,600 per kg, down from Thursday's close of ₹2,44,600 per kg. Gold of 99.9% purity also declined sharply, falling to ₹1,55,900 per 10 grams from ₹1,58,600 per 10 grams on Thursday.
The decline in gold and silver prices came despite spot gold rising around 1.15% to $4,366.58 per ounce and silver gaining nearly 2% to $64.77 per ounce internationally. However, renewed concerns over inflation and elevated US Treasury yields are influencing investor sentiment and putting pressure on non-yielding assets like gold.