New Delhi, April 4 – After a five-day record-breaking rally, gold prices in the national capital took a sharp plunge on Friday, falling by ₹1,350 to settle at ₹93,000 per 10 grams, according to the All India Sarafa Association. This marked a significant reversal from Thursday’s all-time high of ₹94,350.
Gold of 99.5% purity also followed the downtrend, slipping by ₹1,350 to ₹92,550 per 10 grams from the previous close of ₹93,900.
Global Trade Tensions Shift Investor Sentiment
Market analysts attributed the drop to waning safe-haven demand following fresh tariffs introduced by US President Donald Trump.In addition, global equity sell-offs and rising demand for US Treasury bonds signal growing investor caution, with expectations of deeper interest rate cuts by the US Federal Reserve later this year.
Silver Sees Sharpest Drop in Four Months
Silver prices also saw a dramatic fall, plunging ₹5,000 to ₹95,500 per kilogram — the steepest decline in four months. The white metal had previously closed at ₹1,00,500 per kilogram.International Market Trends Add Pressure
In the international market, spot gold dropped by USD 21.74 or 0.70% to USD 3,093.60 per ounce, while spot silver fell by 1.69% to USD 31.32 per ounce during Asian trading hours.Mehta added that increasing trade barriers by the US are intensifying recession fears worldwide. Investors are now keenly watching for signals from Federal Reserve Chair Jerome Powell’s upcoming press conference, particularly any response to escalating trade policies and their impact on the global economy.
