New Delhi: Gold prices fell by Rs 300 to Rs 1.57 lakh per 10 grams while silver plunged by Rs 2,700 to Rs 2.55 lakh per kg in the national capital on Wednesday amid uncertainty over US-Iran peace negotiations.
According to the All India Sarafa Association, gold of 99.9 per cent purity slipped Rs 300 to Rs 1,57,000 per 10 grams (inclusive of all taxes).
"Gold declined on Wednesday after plans for a second round of US-Iran peace negotiations collapsed, despite President Donald Trump extending the ceasefire," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
The absence of progress kept uncertainty elevated, supporting crude oil prices and the US dollar, while acting as a headwind for precious metals, he added.
Market participants will continue to respond to ongoing developments from both sides, with price movements reflecting a cautious wait-and-see approach until clearer signals emerge.
In the international markets, spot silver rose 1.46 per cent to USD 77.80 per ounce while gold advanced 0.48 per cent to USD 4,742.97 per ounce.
"Gold traded positive after a gap-up opening, supported by ongoing ceasefire hopes, although conflicting statements from US President Donald Trump regarding extension of the ceasefire have kept volatility elevated," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.
He noted that the mixed signals on geopolitical developments are creating uncertainty across asset classes, leading to sharp but short-lived moves in gold.
"Market focus is now shifting towards the US Federal Reserve policy due on April 29, which will be a key trigger for direction," Trivedi said.
(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
