Precious Metals Slide: Gold at Rs 1.57 Lakh, Silver Below Rs 2.7L

A broad-based sell-off hit gold and silver markets on Tuesday, pushing prices lower across the board. The correction comes amid heightened global volatility and shifting investor preferences away from traditional safe-haven assets. Data released by the India Bullion Jewellers Association showed 24-carat gold easing Rs 1,246 to Rs 1,57,611 per 10 grams. Lower purity variants followed suit, with 22-carat gold at Rs 1,44,372 and 18-carat gold at Rs 1,18,208 per 10 grams. The uniform decline across carat levels indicates systemic weakness rather than purity-specific factors. Silver recorded an even steeper fall, shedding Rs 4,887 to close at Rs 2,66,213 per kilogram. Traders linked the move to softer crude oil prices and rising geopolitical uncertainties that are prompting some profit-booking in bullion. On the futures front, MCX gold for June 2026 settled 0.69 percent lower at Rs 1,57,989, while silver for July 2026 dropped 1.96 percent to Rs 2,71,285. Technical analysts have identified Rs 1,57,000 as immediate support and Rs 1,61,000 as the next resistance zone. Market watchers are closely monitoring upcoming U.S. economic indicators, particularly inflation and GDP prints, which could trigger fresh directional moves. The current dip may present an attractive entry point for long-term investors seeking to add bullion at relatively cheaper levels.