Delhi Bullion Market: Gold Down ₹1,400, Silver Slips ₹200 as Rupee Strengthens 48 Paise Against Dollar

Jatin Trivedi further noted that the rupee strengthened after Saudi Arabia cut crude oil prices for Asian buyers. This eased concerns about India's import bill and put pressure on bullion. Spot gold fell $24.54, or 0.59 percent, to $4,140.59 per ounce in the international market. Silver also fell nearly 2 percent to $60.89 per ounce.

Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, noted that crude oil prices have rebounded slightly following attacks on shipping near the Strait of Hormuz, leading to spot gold trading lower in international trade. He noted that these attacks have raised new concerns about the safety of ships transiting the Persian Gulf. This led to a rise in crude oil prices of more than one percent, and US Treasury yields and the dollar index moved higher, which in turn put pressure on precious metals.

Traders are awaiting the minutes of the Federal Open Market Committee meeting, the ADP report, initial jobless claims, and US inflation data for next week, said Kaynat Chainwala, AVP Commodity Research at Kotak Securities. Praveen Singh said precious metals are likely to remain range-bound in the near term, although a positive bias could return if geopolitical tensions in West Asia remain contained.