Gold's losing streak deepens as rupee strength weighs; silver sinks Rs 6,000 per kg - Deccan Herald

AI desk brief

Gold fell for a fourth straight session in New Delhi, dropping Rs 900 to Rs 1,49,900/10g (all taxes included), while silver sank Rs 6,000 to Rs 2.15 lakh/kg as a stronger rupee and subdued physical demand pressured domestic prices. The rupee strengthened for a fifth straight session to 95.05/$, supported by RBI forex interventions.

Overseas, bullion bounced sharply on risk-off flows after a selloff in US equities: spot gold rose USD 49.32, or 1.2%, to USD 4,154.65/oz and silver gained nearly 2% to USD 56.69/oz. Traders said the dollar index weakened alongside lower Treasury yields, and markets are now watching Fed Chair Kevin Warsh’s speech and the month-end policy decision for rate and dollar signals; West Asia and crude oil remain additional near-term catalysts.