New Delhi, 04 March (H.S.): India's domestic bullion markets opened lower for both gold and silver Wednesday, bucking the usual safe-haven rally amid escalating West Asia strife.Typically, geopolitical risks drive demand for these precious metals higher, but a strong US dollar and climbing Treasury yields pressured global prices, rippling into local spot trading.
Sharp Early Declines
Gold fell ₹2,305–2,500 per 10 grams in the first session, with 24-carat trading at ₹1,67,610–1,67,760 per 10g across most markets; 22-carat hovered at ₹1,53,640–1,53,790 per 10g. Silver saw a nominal ₹100 per kg drop, quoted at ₹2,94,900 per kg in Delhi.
On Holi, Delhi's 24K gold stood at ₹1,67,760/10g (22K at ₹1,53,790); Mumbai at ₹1,67,610 (₹1,53,640); Ahmedabad ₹1,67,660 (₹1,53,690). Chennai, Kolkata, Bengaluru, Hyderabad, and Bhubaneswar matched Mumbai levels; Bhopal and Patna aligned with Ahmedabad; Lucknow and Jaipur mirrored Delhi.
This counterintuitive slump highlights dollar strength overriding regional fears on a festive trading day.
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Hindusthan Samachar / Jun Sarkar
