Gold prices snap 4-day record rally, slip ₹1,700 to ₹1.35 lakh per 10 gram; silver declines

Gold prices (24K, 99.9% purity) snapped the four-day record rally on Tuesday, December 16, falling by ₹1,700 to ₹1,35,900 per 10 gram in Delhi as investors booked profits amid weak global cues. 

The yellow metal surged ₹4,000 to a lifetime high of ₹1,37,600 per 10 gram on Monday, according to the All India Sarafa Association. In the last four sessions, the precious metal has risen by ₹6,000 per 10 gram, touching record highs one after another. 

"Gold prices witnessed profit booking and remained volatile, with the yellow metal slipping towards the $4,275 level in global markets and staying under pressure," a PTI report quoted Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, as saying.

The Indian rupee hit a record low level on Tuesday, breaching the 91-mark for the first time, falling to 91.07 against the US dollar. 

Meanwhile, silver prices fell from their all-time high of ₹1,99,500 per kg hit on Monday, declining by ₹1,000 to ₹1,98,500 per kg on December 16. 

In the overseas markets, spot gold snapped a five-day winning streak, slipping $27.80, or 0.65%, to $4,277.42 per ounce.

The release of crucial US economic data this week will provide some input into the outlook for precious metals for 2026. The releases are expected to provide clarity on hopes for further interest rate cuts by the US Federal Reserve. 

Spot silver also declined by $1.07, or 1.67%, to $63.02 per ounce in the international markets.

“Bullion prices are trading lower as caution prevails ahead of US nonfarm payroll (NFP) data to be released later in the day, which will show NFP figures of both October and November,” the PTI report quoted Praveen Singh, Research Analyst, Mirae Asset ShareKhan, as saying.