Gold Prices Drop, Silver Also Becomes Cheaper – Check Latest Rates
New Delhi, 27th February 2025: Gold prices dropped by Rs 1,150 to Rs 88,200 per 10 grams in Delhi due to weak international market trends. According to the All India Sarafa Association, the price of gold of 99.5% purity also saw a similar decline by Rs 1,150 to Rs 87,800 per 10 grams, while it was Rs 88,950 per 10 grams in the previous session.
Silver also witnessed a sharp price drop of Rs 1,000 and is now priced at Rs 98,500 per kg, while it was Rs 99,500 per kg in the last session. Bullion markets were closed on Wednesday on account of Mahashivratri.
Gold Prices Fall on MCX
On the Multi Commodity Exchange (MCX), gold futures for the April delivery fell by ₹554, reaching ₹85,320 per 10 grams, reflecting the ongoing global pressure on gold prices.
Jatin Trivedi, commodity and currency expert at LKP Securities, said, “Selling pressure on MCX, which led to gold prices falling to Rs 85,000. He further added that if gold goes below Rs 84,800 level on MCX, then it may weaken further.”
Gold and Silver Market Trends in the International Market
In the global market, gold futures for April delivery on Comex fell by US$ 23.10 (0.79%) to US$ 2,907.50 per ounce. Meanwhile, in the spot market (Spot Gold), gold prices slipped below the $2,900 level to $2,892.95 per ounce. The decline in gold was primarily driven by the strengthening of the US dollar and uncertainty over new tariffs.
Chintan Mehta, CEO of Abans Holdings, said, “Gold prices declined due to the strengthening of the dollar and US President Donald Trump’s announcement of imposing 25% duty on goods imported from the European Union. Apart from this, the new date for the tariff on Mexico and Canada has been made April 2, which was earlier March 4.”
Focus on US Economy Indicators
HDFC Securities commodity expert Saumil Gandhi said, “Investors are now watching US macroeconomic data, including weekly jobless claims, January durable goods orders and fourth quarter GDP figures. Apart from this, ‘speeches by US Federal Reserve officials can also affect the movement of gold, silver and dollar.’
