Gold tanks to Rs 1,25,600/10 grams in Delhi markets amid weak global cues
New Delhi (PTI): Gold prices tanked to Rs 1,25,600 per 10 grams in the national capital on Friday amid weak trends in the international markets, according to the All India Sarafa Association.
The precious metal of 99.9 per cent purity had closed at Rs 1,32,400 per 10 grams on October 18.
Gold of 99.5 per cent purity slumped to Rs 1,25,000 per 10 grams (inclusive of all taxes). It had settled at Rs 1,31,800 per 10 grams on Saturday.
In the local bullion market, silver prices also tumbled to Rs 1,52,600 per kilogram (inclusive of all taxes) on Friday. It had ended at Rs 1,70,000 per kg in the previous market session.
The association said that local bullion markets reopened on Friday after being closed for four days amid Diwali festivities.
In the international markets, spot gold fell by USD 38.47, or 0.93 per cent, to USD 4,087.55 per ounce on Friday after rising 0.67 per cent in the previous session.
"Gold struggled to maintain its recovery on Friday as the market shifted from a bullish trend to the correction phase. Traders remain cautious following a sharp sell-off earlier in the week and avoid fresh buying," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
Gandhi noted that many markets in India are closed for the holiday season, and following the conclusion of the Diwali festival, the demand in India, the world's second-largest gold consumer, is expected to decline.
Spot silver declined by USD 1.66 per cent to USD 48.12 per ounce in the overseas markets.
"Easing geopolitical tensions, as US President Donald Trump and Chinese counterpart Xi Jinping's meeting is scheduled on October 30, also weighs on the metal.
"Meanwhile, the Trump administration's decision to impose sanctions on the biggest Russian oil companies has underscored the fact that geopolitical concerns are going to linger for a long time," Praveen Singh, Head of Commodities and Currencies at Mirae Asset Share Khan, said.
Gold is likely to trade between USD 4,000-4200 per ounce level in the near term, as the interest rate cut expectations by the US Federal Reserve limit the downside, Singh added.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said, "The ongoing US government shutdown and uncertainty around trade negotiations are expected to keep sentiment cautious".
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Christmas decorations vandalised by VHP activists at school in Nalbari; Tension in area
Nalbari: Tension prevailed in the Panigaon area of Nalbari district on December 24 after members of the Vishwa Hindu Parishad (VHP) and Bajrang Dal allegedly entered the premises of St Mary’s School and vandalised materials prepared for Christmas celebrations.
According to local sources, activists of the VHP and Bajrang Dal entered the school campus ahead of Christmas and raised slogans inside the premises. It is alleged that Christmas-related decorations and materials kept within the school compound were damaged and set on fire.
Eyewitnesses said that members of the Bajrang Dal were the first to enter the campus, during which they allegedly raised slogans such as “Jai Shri Ram,” “Jai Hindu Rashtra,” and “Bharat Mata Ki Jai,” and burnt items prepared for Christmas celebrations. The incident created panic among local residents and led to concerns over law and order in the area. No injuries have been reported so far.
The incident comes amid reports of similar acts in Nalbari town in recent days, where Christmas decorations displayed at several commercial establishments were allegedly set on fire.
Reacting to the incident, fact-checker Mohammed Zubair said on social media that VHP and Bajrang Dal activists entered St Mary’s School on Christmas Eve, raised slogans and destroyed Christmas decorations. His post drew attention to the incident and sparked wider discussion online.
Police have not yet issued an official statement on the incident. Further details are awaited.
On Christmas Eve, Vishva Hindu Parishad and Bajrang Dal goons entered St. Mary’s School in Panigaon, Nalbari, chanting slogans like “Jai Shri Ram” and “Jai Hindu Rashtra.” They destroyed and set fire to all Christmas decorations prepared at the school. pic.twitter.com/LQHV7FWUvz
— Mohammed Zubair (@zoo_bear) December 24, 2025
