Gold Price Tumbles Amid Tariff Clarifications and Economic Speculations

Gold prices in the national capital experienced a significant drop, declining by Rs 1,000 to settle at Rs 1,01,520 per 10 grams on Tuesday. This decrease aligns with a broader sell-off trend in global markets, according to the All India Sarafa Association.

The reduced anxiety over US tariffs on gold imports, following President Donald Trump's social media clarification, contributed to the price fall. Coupled with the White House's extension of the suspension of high-level tariffs on China, macroeconomic tensions eased, applying downward pressure on gold prices.

Meanwhile, silver prices also experienced a notable decline, falling by Rs 2,000 to reach Rs 1,12,000 per kilogram. As global investors keep a close eye on upcoming US economic data and potential geopolitical developments, such as Trump and Putin's meeting on the Russia-Ukraine conflict, prices may continue to fluctuate.

(With inputs from agencies.)