US Inflation Data Weighs on Gold Prices as Silver Surges in India

Gold prices continued their downward trend in Delhi for the third consecutive day, falling Rs 100 to Rs 1,58,000 per 10 grams amid subdued demand in local markets.

However, silver bucked the trend and surged by Rs 2,300 to Rs 2,43,400 per kilogram, extending its gains for the second straight session.

The decline in gold prices can be attributed to investors taking a cautious approach ahead of the US inflation data release later this week.

According to Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, 'Gold has remained within a narrow range as investors take a cautious approach ahead of important US inflation data set to be released later this week.'