Spot gold fell as much as 6.3% on Monday. Silver swung sharply, dropping to around $75 an ounce having earlier climbed as much as 3.2%.
Further downside pressure on precious metals may emerge early in the week as higher CME margins come into effect on Monday, February 2.
The Centre had slashed the customs duty on gold from 15 percent to 6 percent with effect from July 24, 2024.
Silver futures with March expiry reclaimed Rs 2.8-lakh mark, after hitting a low of Rs 2,65,652 per kilogram in the early trading hours of Sunday.
Experts advised investors to diversify, avoid panic selling, and eye rebounds from central bank demand.
Silver saw even more dramatic moves. Prices crossed $120 per ounce last week — one of the strongest rallies in decades — before tumbling to $98.50 on Friday.
The timing is crucial as the market braces for fresh volatility in an already volatile commodity sector.
The selloff reflected global market trends, with Comex spot silver falling to $98 an ounce, a 14.15% decline from the previous close.
The increase means those who want to trade futures of gold, silver, platinum and palladium will need to put up more collateral to ensure they can meet their obligations.
Copper fell almost 4% in London, after surging above $14,000 a ton for the first time Thursday in its biggest intraday jump since 2008.
Spot gold dropped 5.8% to $5,081.52 per ounce at 09:37 a.m. ET (1437 GMT), after retreating to an intraday low of $4,957.53 earlier. U.S. gold futures for February delivery slipped 4.1% to $5,079.60
A larger reserve buffer gives the central bank more firepower to defend the rupee. The currency is the worst performer in emerging markets this year, weighed down by outflows from equities and a delay in clinching a trade deal with the US
Investors should consider any fall as a buying opportunity and not a sign of any change in the trend, an analyst said.
The broader precious metals rally has been driven by persistent geopolitical and macroeconomic risks, coupled with a sharp depreciation in the US dollar, says analyst.
Gold demand is broadening across investor classes, ranging from crypto-linked capital flows to central banks, say analysts
The company has further identified land parcels for its nuclear energy projects and is under discussions with various states for the same.
Benchmark three-month futures dropped almost 4% to near $13,000 a ton on the LME, after peaking above $14,500 on Thursday
Trading pauses or delays are not entirely unheard of across global exchanges.
Analysts say gold surge reflects a deepening macro and geopolitical risk premium rather than short-term speculation
Silver prices fall as dollar recovers
The price of bullion has skyrocketed is recent weeks, with the yellow metal advancing more than 20% since the start of January, despite a pullback on Friday
Prices gained as much as 11% to trade above $14,500 a ton for the first time ever, before a sharp retracement on Thursday afternoon as the dollar jumped.
Crude has rallied so far in 2026, countering expectations for a market pressured by significant oversupply
Silver gained as the US Federal Reserve left key rates unchanged in 3.50%-3.75% range amid growing tariff tensions and industrial demand
Gold is entering an overheated zone where volatility can increase, say analysts