Gold prices saw a marginal decline on Tuesday, with the price of gold falling ₹10 to ₹1,52,120 per 10 grams in the domestic market. Silver prices also slipped by ₹100 to ₹2,74,900 per kilogram as investors tracked global market trends and geopolitical developments.
Despite the small fall, gold continued to trade near all-time high levels across major Indian cities. In Delhi, 24-carat gold was priced around ₹1.53 lakh per 10 grams, while rates in Mumbai and Kolkata remained at similar levels. Prices of 22-carat gold also stayed elevated, reflecting steady demand for the precious metal.
Market experts said uncertainty in global markets and rising tensions in the Middle East continued to support safe-haven buying in gold. Investors are increasingly turning to bullion as concerns over inflation, crude oil prices and global economic slowdown remain strong.
Silver prices, meanwhile, witnessed mild profit booking after recent gains. Analysts said silver continues to remain sensitive to both industrial demand and global commodity price movements, leading to fluctuations in domestic rates.
Jewellers said demand in the retail market remained stable due to the ongoing wedding season, although many buyers have become cautious because of the sharp rise in prices over the past few weeks. Some customers are choosing lighter jewellery or delaying purchases in anticipation of a price correction.
In the international market, gold prices remained firm as investors awaited signals from major central banks on future interest rate decisions. A weaker dollar and uncertainty in global financial markets also supported bullion prices.
Traders believe gold and silver prices may continue to remain volatile in the coming days due to changing global conditions and fluctuations in crude oil prices. Analysts advised investors and buyers to closely monitor market movements before making fresh investments or large purchases.
Even with minor declines, precious metals continue to attract strong investor interest as a safe investment option during uncertain economic conditions.
Also Read: Sensex falls over 450 points, Nifty slips below 23,700