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🪙 Gold and Silver Prices Tumble Amid Global Market Sell-Off

Trump’s tariff clarification and easing U.S.-China tensions trigger bullion retreat

Gold prices India drop sharply Amid Global Market Sell-Off. sharply in India, on Tuesday, tracking a global sell-off in precious metals as geopolitical and economic developments reduced the appeal of safe-haven assets.

📉 Domestic Market Snapshot in Gold prices India drop

• Gold (99.9% purity): Dropped ₹1,000 to ₹1,01,520 per 10 grams in Delhi
• Gold (99.5% purity): Fell to ₹1,01,100 per 10 grams (inclusive of taxes)
• Silver: Slumped ₹2,000 to ₹1,12,000 per kilogram

This marks a notable correction from Monday’s levels of ₹1,02,520 for gold and ₹1,14,000 for silver.

The Rise of Gold Prices Amidst Geopolitical Turmoil: An Extensive Analysis

🌍 Global Cues Driving the Gold prices India drop

The sell-off came after U.S. President Donald Trump clarified that gold imports would not face new tariffs, easing fears of trade disruptions. Although the White House has yet to officially confirm the statement, it has already influenced global sentiment.

Adding to the pressure, the U.S. announced an extension of suspended high-level tariffs on China until November 11, hinting at a short-term thaw in trade tensions.

💬 Expert Insights on Gold prices India drop

“Gold prices dipped after Trump’s clarification on tariffs. The easing of macroeconomic tensions has led to a pullback in bullion prices,” said Financial Analyst.

It was noted that spot gold fell below the $3,400 per ounce mark, touching $3,347.18, while spot silver rose nearly 1% to $37.90 per ounce in New York.

📊 Currency and Market Factors

• Rupee: Strengthened by 10 paise to ₹87.65 against the U.S. dollar
• Investor Focus: U.S. CPI, PPI, and retail sales data due later this week could influence the Fed’s interest rate policy

🔍 Geopolitical Undercurrents

Market chatter also points to a potential truce plan between Trump and Russian President Vladimir Putin, expected to be discussed on August 15. If successful, it could further depress gold’s safe-haven premium.

🧭 Outlook

While some analysts see this dip as a buying opportunity, they caution that volatility will persist as traders react to incoming economic data and diplomatic developments. The bullion market’s next move may depend on Federal Reserve rate signals and global trade relations.

For now, the shine of gold is dimmed — but in commodities, sentiment can shift as quickly as the headlines.