Minor Decline in Yellow Metal, Silver Also Falls | Image:
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Gold prices in India have experienced a slight decline today. 24-carat gold is trading at Rs 95,660 per 10 grams, down by Rs 10 from the previous session as reported by Good Returns.
Similarly, 22-carat gold is priced at Rs 87,700 per 10 grams. Gold prices in Delhi have been witnessing momentum since the start of the year as investors take it as a haven asset.
Gold Prices Decline
Gold prices in India saw a small fall today, with 24-carat gold selling at Rs 95,660 for 10 grams, down by Rs 10 from the last session. Even 22-carat gold sells at Rs 87,700 for 10 grams. This small fall follows a phase of changing prices on the back of global economic factors.
Silver Prices Also See a Drop
Prices for silver followed gold’s trend and fell by Rs 100 to Rs 1,150 for every 10 grams. Falling prices for silver are due to market corrections as well as altering investor sentiments.
Price of Gold in Delhi and NCR
In Delhi, 24-carat gold costs Rs 95,660 for every 10 grams, while 22-carat gold costs Rs 87,700 for every 10 grams. The same rates apply in surrounding NCR cities like Noida, Gurugram, and Ghaziabad, with slight differences based on local market factors.
Gold Prices in Major Metro Cities
Here’s a snapshot of today’s gold prices in major Indian cities:
Delhi: 24K – Rs 90,543; 22K – Rs 83,013
Mumbai: 24K – Rs 90,397; 22K – Rs 82,867
Chennai: 24K – Rs 90,391; 22K – Rs 82,861
Kolkata: 24K – Rs 90,395; 22K – Rs 82,865
Bengaluru: 24K – Rs 90,385; 22K – Rs 82,855
Pune: 24K – Rs 90,403; 22K – Rs 82,873
Factors For Price Decline
Gold prices have been seeing momentum since the start of the year. There are various factors have led to the recent drop in gold prices:
Global Economic Indicators: US dollar fluctuations and interest rate changes have influenced precious metal prices.
Investor Sentiment: Risk asset rotation has resulted in lower demand for safe-haven assets such as gold.
Market Corrections: Following a phase of continuous price appreciation, the market is experiencing a natural correction phase.
Outlook for Investors
As per good returns, Analysts opine that though the current slump might be a cause of worry for some investors, it is also an opportunity for those interested in investing in gold at better prices. Observing world economic trends and central bank actions will be important while forecasting future price movements.
