Bullion Market Weakens Again as Gold, Silver Retreat

Precious metals continued their downward slide on Wednesday, marking the second consecutive session of losses for both gold and silver. Domestic spot prices tracked by the India Bullion Jewellers Association showed 24-carat gold easing Rs 1,539 to Rs 1,56,072 per 10 grams. Lower carat variants followed suit, with 22-carat gold at Rs 1,42,962 and 18-carat gold at Rs 1,17,054 per 10 grams. Silver prices plunged more sharply, falling Rs 5,296 to Rs 2,60,917 per kilogram. Futures on the MCX mirrored the trend, as the June 2026 gold contract shed 1.32 percent and the July 2026 silver contract dropped 2.26 percent. Globally, Comex gold slipped 1.59 percent to $4,462 per ounce, while silver fell 2.83 percent to $74.44 per ounce. Traders are holding positions ahead of key U.S. economic releases due tomorrow morning, which could determine whether the recent correction extends further.