- Silver prices fell 2% to Rs 2.5 lakh per kilogram in the national capital on Monday
- Gold prices rose by Rs 700 to Rs 1,59,200 per 10 grams in the same period
- Global spot silver dropped nearly 1% to $76.94 per ounce, while gold fell 1% to $5,003.01
Silver prices declined by 2 per cent to Rs 2.5 lakh per kilogram, while gold increased by Rs 700 per 10 grams in the national capital on Monday.
According to the All India Sarafa Association, the white metal depreciated by Rs 5,000, or 1.96 per cent, to Rs 2,50,000 per kilogram (inclusive of all taxes) from Rs 2,55,000 per kg on Friday.
However, gold of 99.9 per cent purity advanced by Rs 700 to Rs 1,59,200 per 10 grams (inclusive of all taxes) from the previous close of Rs 1,58,500 per 10 grams.
"Silver began the week on a softer note, as investors booked profits after the weekend's rally. However, ongoing central bank purchases, heightened safe-haven demand amid the correction in tech and AI stocks, and a weaker dollar index have helped cushion the downside," Gaurvav Garg, Research Analyst, Lemonn Markets Desk, said.
In the global market, spot silver fell nearly 1 per cent to USD 76.94 per ounce, while gold slipped USD 40.10, or 1 per cent, to USD 5,003.01 per ounce.
"Gold edged lower on Monday, as a modest recovery in the US dollar and a lack of follow-through buying weighed on precious metals," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
He noted that trading activity remained subdued, with Chinese markets closed for Lunar New Year holidays. Chinese participants have played a key role in recent volatility, particularly in silver, and their absence contributed to thinner market conditions.
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Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said traders are now focused on key macro data releases, including the US Federal Reserve's preferred inflation gauge -- the Personal Consumption Expenditures (PCE) price index, due on February 20, which could shape rate-cut expectations for June.
She added that the Federal Open Market Committee meeting minutes, US advance GDP data for December, and flash PMI readings from major economies will also be tracked for further direction.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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