Gold Slips ₹150, Silver Tumbles ₹5,000 as Strong Dollar Weighs on Precious Metals

Gold prices declined by ₹150 to ₹1,50,650 per 10 grams in the national capital on Monday, while silver prices fell sharply by ₹5,000 to ₹2,40,000 per kilogram (inclusive of all taxes), as a stronger US dollar and weak global cues weighed on investor sentiment.

Gold of 99.9 per cent purity had settled at ₹1,50,800 per 10 grams in the previous session. Silver's decline ended its four-day gaining streak , according to local market dealers.

Traders said the precious metals market remained range-bound as investors weighed geopolitical tensions in West Asia against a firmer greenback and evolving expectations around the US Federal Reserve's monetary policy .

"Gold prices experienced a slight decline in the domestic markets on Monday as investors navigated the complex landscape of Washington-Tehran relations while awaiting key US inflation data," said Gaurav Garg , Research Analyst at Lemonn Markets Desk.

In the international market, spot gold eased to USD 4,160.60 per ounce , while spot silver slipped to USD 62.24 per ounce .

According to Praveen Singh , Head of Commodities at Mirae Asset ShareKhan, gold remained under pressure in overseas markets due to a stronger US dollar, with traders continuing to factor in the possibility of the Federal Reserve keeping interest rates elevated for longer.

Market participants are now closely watching the US ISM Services data and other key macroeconomic indicators for further signals on the Fed's policy trajectory.

Despite the near-term weakness, analysts expect gold to retain a positive long-term bias , supported by easing inflation and softer US jobs data, although expectations of prolonged higher interest rates may limit any sharp upside.