Gold and silver prices dropped sharply on Monday amid growing uncertainty surrounding US trade tariffs. According to data from the India Bullion and Jewellers Association (IBJA), 24-carat gold fell by ₹425 to ₹96,596 per 10 grams, while silver plunged ₹1,049 to ₹106,531 per kg.
The decline follows geopolitical easing, such as recent ceasefire announcements, and stronger-than-expected US economic data, both of which dampened safe-haven demand.
However, Sandip Raichura, CEO of Retail Broking and Director at PL Capital, noted that gold remains supported in the long term by continued central bank buying, which currently exceeds 1,000 tonnes per year, and persistent inflation pressures.
On the futures side, the August 5 MCX gold contract slipped ₹487 or 0.5% to ₹96,503, while Comex gold dropped 0.93% or $31.10 to $3,311.80 per ounce.
Jateen Trivedi, VP at LKP Securities, said gold is currently trading range-bound to weak, reflecting cautious sentiment as markets await clarity on the US tariff extension.
Meanwhile, Indian equities closed flat due to investor hesitation over the pending India-US interim trade agreement. The Sensex edged up just 9.61 points to 83,409.68, and the Nifty ended nearly unchanged at 25,461.30.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]
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Gold Falls ₹425, Silver ₹1,049 Amid US Tariff Concerns

Uncertainty over US tariffs and global trade weighs down gold and silver prices in Indian markets.

Gold Falls ₹425, Silver ₹1,049 Amid US Tariff Concerns

Uncertainty over US tariffs and global trade weighs down gold and silver prices in Indian markets.

July 7, 2025 | 18:46 IST