Gold prices dropped sharply on Wednesday, shedding ₹887 per 10 grams, amid global uncertainty over US trade policy and weaker investor sentiment. The 24-carat gold price now stands at ₹96,085, down from the previous day's ₹96,972, as per data from the India Bullion and Jewellers Association (IBJA).
Silver prices also fell marginally by ₹220, closing at ₹107,280 per kg, compared to ₹107,500 earlier.
"Gold is expected to remain volatile between ₹95,000 and ₹96,500," said Jateen Trivedi, VP of Research at LKP Securities, citing geopolitical uncertainties and wavering demand.
At the Multi Commodity Exchange (MCX), gold futures for August 5 expiry dropped ₹572, or 0.59%, closing at ₹95,900 per 10 grams. Globally, Comex gold fell $22.90 or 0.69%, settling at $3,294.0 per ounce.
Trivedi noted that Comex gold slipping below $3,300 has weighed on global sentiment. Though a weaker rupee offered some support to MCX gold, overall trends remain bearish.
Investor caution also stems from new US tariffs, announced by President Donald Trump, including a 50% tariff on copper and 25&ndash;40% tariffs on goods from countries like Japan and South Korea.
Meanwhile, Indian equity markets ended the day on a lower note, with the Sensex falling to 83,536.08 and Nifty closing at 25,476.10, dragged down by IT and metal stocks.
[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.]

Gold Prices Slide ₹887 as US Trade Uncertainty Grows

Yellow metal weakens as investors await clarity on US tariffs; silver also dips slightly

Gold Prices Slide ₹887 as US Trade Uncertainty Grows

Yellow metal weakens as investors await clarity on US tariffs; silver also dips slightly

July 9, 2025 | 18:35 IST