New Delhi: Gold prices declined by ₹500 to ₹1,20,600 per 10 grams in the national capital on Friday, snapping a five-day record rally. The fall was attributed to profit-booking by investors and a slight rebound in the US dollar, market participants said.
According to the All India Sarafa Association, gold of 99.9% purity had surged by ₹1,100 on Wednesday to an all-time high of ₹1,21,100 per 10 grams. On Friday, it slipped back to ₹1,20,600. Similarly, 99.5% purity gold dropped by ₹500 to ₹1,20,000 per 10 grams, compared to ₹1,20,500 in the previous session.
Local bullion markets were closed on Thursday for Gandhi Jayanti and Dussehra.
Silver followed the same trend, easing by ₹500 to ₹1,50,000 per kilogram after trading flat at ₹1,50,500 on Wednesday, the association noted.
“Bullion pulled back from record highs as profit-taking and a stronger US dollar weighed on sentiment after a five-day rally,” said Saumil Gandhi, Senior Commodity Analyst at HDFC Securities.
In global markets, spot gold slipped to USD 3,863.51 per ounce from Thursday’s record of USD 3,897.20. Despite the dip, gold is on track for its seventh consecutive weekly gain, the longest streak since February 2025, Gandhi added.
He attributed the broader uptrend to safe-haven demand driven by worries over a potential US government shutdown, global economic risks, strong ETF inflows, and steady central bank buying.
Spot silver overseas edged up nearly 1% to USD 47.34 per ounce, after touching USD 48.10 a day earlier.
Gandhi further noted that with the US government shutdown delaying official data releases such as non-farm payrolls, traders will increasingly rely on private reports for market cues.
Renisha Chainani, Head of Research at Augmont, said higher US tariffs and ongoing geopolitical tensions are also bolstering gold’s status as a preferred safe-haven asset.
