Silver slides Rs 9,000, gold dips Rs 3,500

New Delhi: Silver prices fell sharply by Rs 9,000 to Rs 2.37 lakh per kilogram in the national capital on Thursday, while gold declined Rs 3,500 to Rs 1.51 lakh per 10 grams amid a bearish sentiment in the domestic market.

According to the All India Sarafa Association, the white metal depreciated Rs 9,000, or 3.66 per cent, to Rs 2,37,000 (inclusive of all taxes) from Thursday’s closing level of Rs 2,46,000 per kg.

Gold of 99.9 per cent purity also declined Rs 3,500, or 2.26 per cent, to Rs 1,51,500 per 10 grams (inclusive of all taxes).

“Precious metals declined on Thursday after US President Donald Trump’s much-anticipated address provided limited clarity on resolving the conflict in West Asia,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

Trump said that Washington’s core strategic objectives with reference to the war could be nearing completion, but warned Tehran of potential military strikes over the next 2-3 weeks.