The precious metals market experienced a significant downturn today, with gold prices in Delhi taking a dramatic ₹600 tumble to settle at ₹99,020 per 10 grams. Silver followed suit, plummeting ₹1,000 to reach ₹1,04,800 per kg. This sharp decline is largely attributed to stockist selling and the strengthening US dollar.

Market analysts are closely watching the upcoming US Personal Consumption Expenditures (PCE) inflation report. This key economic indicator is expected to significantly influence investor sentiment regarding safe-haven assets like gold and expectations surrounding potential interest rate cuts. The impact of this report on the future price movements of gold and silver remains to be seen.

Stay tuned for further updates as the market reacts to this significant shift in precious metal prices. The coming days will be crucial in determining the long-term impact of these recent drops.