Wed Feb 12 11:55:02 UTC 2025: ## Gold Prices Tumble in India Amidst Weakening Global Trends

**New Delhi, [Date]** – Gold prices experienced a significant drop in India today, falling ₹340 to ₹87,960 per 10 grams, according to the All India Sarafa Association. This decline mirrors a weakening global trend, with international gold futures falling $26 per ounce to $2,906.60.

The price of 24-carat (99.9% purity) gold closed at ₹88,300 per 10 grams yesterday, while 22-carat (99.5% purity) gold ended at ₹87,900. Silver, however, bucked the trend, rising ₹600 to ₹97,200 per kg.

Futures trading on the Multi Commodity Exchange (MCX) also reflected the downturn, with April gold contracts falling ₹659 (0.77%) to ₹84,864 per 10 grams.

Analysts attribute the gold price drop to several factors. Jateen Trivedi, VP Research Analyst at LKP Securities, noted that gold took a breather after a recent rally, with short-term pressure evident in MCX gold’s performance. He highlighted the upcoming US Consumer Price Index (CPI) data as a key factor influencing interest rate expectations and, consequently, gold’s movement.

Saumil Gandhi, Senior Analyst at HDFC Securities, pointed to Federal Reserve Chair Jerome Powell’s testimony to Congress. Powell’s signals against immediate interest rate cuts and the subsequent rise in US Treasury yields negatively impacted gold prices. The lack of urgency regarding rate cuts dampened expectations of an aggressive monetary easing that would typically support gold.

Comex silver futures also saw a dip, falling 0.56% to $32.14 per ounce during Asian market hours. The overall market sentiment suggests a period of uncertainty for precious metals, with future price movements heavily dependent on upcoming economic indicators.

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