Gold, silver futures fall as investors book profits on higher level

Key Highlights

• Similarly, silver futures for March delivery depreciated by Rs 1,534, or 0.48 per cent, to Rs 3,16,958 per kg in 9,555 lots.
• In the previous session, the white metal had snapped its record rally after touching an all-time high of Rs 3,35,521 per kg, before settling at Rs 3,18,492 per kg, down by Rs 17,029, or 5.07 per cent.
• “Gold and silver prices saw profit-booking as geopolitical tensions briefly eased after US President Donald Trump withdrew his threat of new tariffs on European nations and signalled a softer stance on Greenland, saying a ‘framework of a future deal’ had been agreed,” according to Renisha Chainani, Head – Research at Augmont.
• She added that Trump’s assurance that force would not be used weighed on bullion prices and reduced immediate safe-haven demand.
• In the international market, Comex gold futures for February delivery also retreated from its record highs, falling by USD 8.76, or 0.18 per cent, to USD 4,828.74 per ounce.