Sat Mar 01 03:40:00 UTC 2025: ## Gold and Silver Prices Plunge in Delhi’s Bullion Market

**New Delhi, February 28, 2025** – Gold and silver prices experienced a significant drop in Delhi’s bullion market today, marking a two-week low for gold. Weak demand and investor selling pressure saw gold prices fall by ₹500 to ₹87,700 per 10 grams. Silver prices also plummeted, losing ₹2,100 to settle at ₹96,400 per kilogram.

This follows a previous closing price of ₹88,200 per 10 grams for 99.9% purity gold. While gold prices are still up 10.5% year-to-date from ₹79,390, this week’s decline represents a notable correction. 99.5% purity gold also dropped ₹500, closing at ₹87,300.

Silver’s fall marks a third consecutive day of decline. Experts attribute the drop in both gold and silver to a strengthening US dollar. Rahul Kalantri of Mehta Equities Limited points to the US President’s announcement of new tariffs on Mexico and Canada as a factor strengthening the dollar and weakening the bullion market. The anticipated delay in US Federal Reserve interest rate cuts also contributed to the gold price decline.

Internationally, Comex gold futures fell $21.20 to $2,874.70 per ounce, while spot gold dropped $15 to $2,862.53 per ounce. Silver futures in the Asian market fell 1.21% to $31.72 per ounce.

In contrast to Delhi, Indore’s bullion market saw a ₹350 drop in gold prices but a ₹1,000 increase in silver prices.

Market analysts predict continued volatility. Further strengthening of the dollar and US bond yields could lead to further gold price declines, while increased global uncertainty could trigger a price rebound.

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