Gold rates in India continue to be under pressure despite RBI pausing repo rate to multi-years low at 5.25%. In the second half of the trading session, gold recovered its early losses but silver continued to be under pressure. After closing bell, MCX gold was just couple of rupees away from reclaiming its Rs 1.53 lakh mark, while MCX silver dropped by 2%.
Gold and silver prices have witnessed massive seesaw-like performance since last week.

As per Trading Economics data, the swings that began late last week continued, wiping out most of its year-to-date gains, weighed by selling pressure after the metal repeatedly hit record highs in January. Meanwhile, US job cuts reached 108.4K in January, the highest for the month since 2009, while initial claims rose to 231K and ADP payrolls missed forecasts. The string of weaker labor data reinforced expectations for Federal Reserve rate cuts later this year, with markets eyeing a first move in June.
On the geopolitical front, the data said, the White House emphasized that President Donald Trump prefers a diplomatic solution with Iran, signaling patience for high-level negotiations while keeping military options as a contingency. Over the week, gold remained on track for its second consecutive weekly loss.
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