New Delhi, July 7: Gold and silver prices witnessed a decline of up to 2% on Tuesday, tracking weak global cues and subdued investor sentiment in the precious metals market.
The fall in international bullion prices impacted domestic markets, with both gold and silver coming under selling pressure. Market analysts attributed the decline to a stronger US dollar, shifting expectations on global interest rates, and cautious investor participation.
Gold prices remained under pressure as traders assessed the outlook for monetary policy and key economic developments. A firm dollar and higher interest rate expectations often weigh on demand for non-yielding assets such as gold.
Silver prices also moved lower, following weakness in global markets and reduced demand from investors. However, analysts noted that precious metals could find support from ongoing economic uncertainties and changing market dynamics.
Going ahead, bullion prices are expected to remain influenced by global currency movements, central bank policy decisions, inflation trends, and broader market sentiment.