Key Takeaways:
Gold prices in India fell for a third consecutive session, with 24K dropping Rs 60 to Rs 15,844 per gram in Delhi on May 27.
"Gold stabilised on Wednesday as investors remained cautiously optimistic that the US and Iran could still secure a peace agreement despite renewed tensions in the Middle East," Jigar Trivedi, senior research analyst at IndusInd Securities, said.
The two-session decline has erased Rs 10,900 per 100 grams of 24K gold. The 22K variant fell Rs 55 to Rs 14,525 per gram, while 18K declined Rs 45 to Rs 11,887 per gram. For 10 grams, 24K gold was priced at Rs 1,58,440 after a Rs 600 drop, and 22K stood at Rs 1,45,250.
The selloff comes as hopes for a US-Iran peace deal falter, with fresh Israeli attacks in southern Lebanon adding to geopolitical uncertainty. Persistent inflation worries have further weighed on the precious metal, keeping investors on edge.
Silver Holds Steady
Silver remained flat for a sixth consecutive day, holding at Rs 285 per gram and Rs 2,85,000 per kilogram, according to Indian bullion market data. The divergence between gold's decline and silver's stability reflects a wait-and-see approach among precious metals traders.
What's Next for Gold Prices
The next trigger for gold will be any concrete development in US-Iran talks or fresh inflation data that could shift Federal Reserve rate expectations. A breakdown in negotiations could reignite safe-haven buying, while a deal would likely accelerate the current selloff.
This article is for informational purposes only and does not constitute investment advice.
