<p><a href="https://www.mid-day.com/business/business-news/article/gold-futures-fall-rs-256-to-rs-1-55-lakh-per-10-grams-ahead-of-fed-policy-meet-23621415" target="_blank" rel="none noopener">Gold prices</a> declined sharply by 5.89 per cent this week, weighed down by sustained profit booking and a strengthening US dollar, signalling a correction after a prolonged rally in precious metals, reported news agency IANS.</p>
<p>Market analysts said volatility driven by global cues, including geopolitical tensions and monetary policy signals, has impacted investor sentiment.</p>
<h2>Weekly fall after recent rally</h2>
<p>According to data from the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat <a href="https://www.mid-day.com/business/business-news/article/gold-prices-experience-sudden-surge-amid-heightened-global-tensions-23619108" target="_blank" rel="none noopener">gold</a> fell from Rs 1,56,436 on Monday to Rs 1,47,218 by Friday, reported IANS.</p>
<p>On the Multi Commodity Exchange (MCX), gold April futures edged up 0.23 per cent on Friday to Rs 1,44,825, while silver May futures declined 1.72 per cent to ₹Rs 2,27,470 per kg, reported IANS.</p>
<h2>Profit booking and strong dollar weigh on prices</h2>
<p>Analysts attributed the decline primarily to profit booking after gold&rsquo;s recent highs, along with a stronger dollar that typically reduces the appeal of non-yielding assets like gold.</p>
<p>Precious metals are expected to remain under pressure in the coming week as <a href="https://www.mid-day.com/business/business-news/article/gold-price-updates-prices-in-mumbai-surges-by-rs-1-707-amid-global-turmoil-23620154" target="_blank" rel="none noopener">markets</a> react to mixed global signals.</p>
<h2>Global tensions create mixed impact</h2>
<p>Geopolitical developments in West Asia had earlier boosted safe-haven demand for gold. However, the recent escalation, including strikes on energy infrastructure, has introduced volatility rather than sustained support.</p>
<p>Rising crude oil and natural gas prices have also raised concerns about imported inflation, adding another layer of complexity to market movements.</p>
<h2>Central bank stance adds pressure</h2>
<p>Major <a href="https://www.mid-day.com/business/business-news/article/gold-price-updates-yellow-metal-declines-marginally-silver-gains-on-strong-buying-23620631" target="_blank" rel="none noopener">central banks</a>, including the US Federal Reserve, Bank of Japan, Bank of Canada and Bank of England, have indicated a cautious to hawkish stance, suggesting interest rates may remain elevated, reported IANS.</p>
<p>Higher interest rates tend to reduce the attractiveness of gold, which does not offer returns like interest-bearing assets.</p>
<h2>Key levels to watch</h2>
<p>Market experts noted that <a href="https://www.mid-day.com/business/business-news/article/gold-and-silver-prices-in-mumbai-prices-slip-marginally-amid-escalating-global-turmoil-23618581" target="_blank" rel="none noopener">MCX gold</a> is approaching key support levels after its recent correction. Resistance is seen in the Rs 1,50,000&ndash;Rs 1,52,000 range, while Rs 1,35,000&ndash;Rs 1,40,000 is expected to act as a strong demand zone, reported IANS.</p>
<h2>Silver outlook remains mixed</h2>
<p>Silver prices also saw a sharp correction during the week, with key support seen between Rs 2,15,000 and Rs 2,20,000, reported IANS.</p>
<p>Despite the decline, analysts said silver retains a broader bullish outlook due to its dual role as both a safe-haven and an industrial metal. A recovery towards Rs 2,40,000 is possible if buying interest strengthens.</p>
<h2>Outlook</h2>
<p>With global uncertainties, currency movements and interest <a href="https://www.mid-day.com/business/business-news/article/gold-price-updates-precious-metals-continue-to-fall-amid-global-turmoil-23620485" target="_blank" rel="none noopener">rate expectations</a> influencing markets, precious metals are likely to remain volatile in the near term.</p>
<p><strong>(With inputs from IANS)</strong></p>

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