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Gold plunges by Rs 14,000, silver by Rs 20,000 in a single day on profit-taking, stronger US dollar
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....old plunges by Rs 14,000, silver by Rs 20,000 in a single day on profit-taking, stronger US dollar<BR>PTI News<BR>Dated:- 30-1-2026<BR>PTI<BR>New Delhi, Jan 30 (PTI) Gold prices tumbled by Rs 14,000 per 10 grams and silver prices tanked by Rs 20,000 per kg in the national capital on Friday as investors booked heavy profits amid weak global trends and a rebound in the US dollar. According to the ....
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....marketmen, gold of 99.9 per cent purity plunged by Rs 14,000, or 7.65 per cent, to Rs 1,69,000 per 10 grams (inclusive of all taxes). The precious metal had hit an all-time high of Rs 1,83,000 per 10 grams on Thursday, after rising by Rs 12,000. Silver tumbled by Rs 20,000, or nearly 5 per cent, to Rs 3,84,500 per kilogram (inclusive of all taxes). The white metal had soared Rs 19,500 to hit a r....
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....ecord of Rs 4,04,500 per kg in the previous market session. "Gold and silver experienced a significant correction on Friday as investors moved to aggressively book profits following a recent record-breaking rally. "This decline was mainly fuelled by the heavy liquidation of long positions by large institutional players, who sought to secure gains after a strong multi-session advance," Saumil G....
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....andhi, Senior Analyst - Commodities at HDFC Securities, said. He added that a recovery in the US dollar placed further pressure on bullion. "From a technical standpoint, both gold and silver had been trading in overbought territory over the past several sessions, heightening the risk of a corrective move." The combination of stretched technical conditions, institutional profit-taking, and a re....
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....covery in the US dollar that is likely to continue adds pressure on bullion in the short term, Gandhi said. In the international market, spot gold was trading 5.31 per cent lower, or USD 285.30, to USD 5,087.73 per ounce. The yellow metal tumbled by USD 425.86, or 7.92 per cent, to hit an intraday low of USD 4,945.26 per ounce. "Gold slipped below USD 5,100 per ounce and silver dipped below US....
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....D 105 per ounce amid continued profit-taking amid Trump and Senate Democrats have reached a tentative deal to avoid a US government shutdown, weighing on safe-haven assets," Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said. On Thursday, gold touched a new record of USD 5,595.02 before settling at USD 5,371.12 per ounce. Spot silver also dropped USD 14, or 12.09 per cent, to USD....
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.... 101.47 per ounce, after falling as much as 17.5 per cent in the intraday trade USD 95.26 per ounce in the overseas trade. On Thursday, it hit a fresh peak of USD 121.45 per ounce. "A few factors have led to the sharp correction in the prices of gold and silver. After the vertical increase in the prices of both bullion, there seems to be some profit booking globally. "There were no support pri....
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....ces established at higher levels due to this parabolic rise, so the correction has been steep," said Vijay Kuppa, Chief Executive Officer, InCred Money. He added that there is uncertainty after President Donald Trump nominated Kevin Warsh as the next head of America's central bank, the Federal Reserve, which kept the market in a slightly risk-off mode, as the markets fear that the new leadership....
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.... can be more hawkish. "The US Treasuries and the Dollar index showed a slight up move, which is generally seen as a negative for the metals," Kuppa said. PTI HG HG MR<BR> News - Press release - PIB....