Silver prices declined sharply from record levels, plummeting ₹12,500 to ₹2,43,500 per kg, while gold receded by ₹900 in the national capital on Thursday (January 8, 2026), amid a rush of profit-booking globally.

According to the All India Sarafa Association, the white metal surged ₹5,000 to touch a record high of ₹2,56,000 per kg in the previous session on Wednesday (January 7, 2026).

In the local bullion market, the price of gold of 99.9% purity decreased by ₹900 to ₹1,40,500 per 10 grams (inclusive of all taxes) compared to the previous close of ₹1,41,400 per 10 grams.

“Gold extended its fall on Thursday (January 8, 2026), weighed down by long liquidation as traders reduced their positions due to ease of safe-haven demand and a stable U.S. dollar,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold fell by $29.65, or 0.67%, to $4,426.91 per ounce, while silver traded 3.22% lower, or $2.51, to $75.67 per ounce.

Investors adopted a cautious stance ahead of key events, including anticipated rulings on Donald Trump’s tariffs by the U.S. Supreme Court on Friday (January 9, 2026) and the release of the December labour market data, which also acted as headwinds for bullion prices, Mr. Gandhi said.

Jateen Trivedi, VP research analyst of commodities and currency at LKP Securities, said market participants will await Friday’s (January 9, 2026) non-farm payrolls report, which is likely to add volatility and provide direction to bullion prices.

About the outlook, Mr. Gandhi added, “We expect the ongoing corrective phase in bullion prices to persist for the day, and the market remains under pressure from position unwinding and cautious investor sentiment.”