Gold and silver prices moved lower across major Indian cities on Tuesday, bringing some relief for consumers planning jewellery purchases or investments in precious metals.
The price of 24-carat gold dropped to around ₹99,800 per 10 grams in several key markets, while 22-carat gold also recorded a decline. Silver prices also eased and traded below ₹1.02 lakh per kilogram in many cities. The decline was seen in both gold and silver retail rates, with prices softening after recent fluctuations in the market.
The latest drop has come as global market conditions continue to influence precious metal prices. International gold rates are affected by several factors, including movements in the US dollar, expectations around interest rates and changing investor sentiment.
Gold is generally considered a safe investment during periods of uncertainty. However, when global conditions become more stable or investors shift focus towards other assets, prices often witness corrections. Similar factors also affect silver prices, which tend to move in line with broader commodity trends.
The decline in prices may encourage buyers who had postponed purchases due to high rates in recent weeks. Retail demand often rises when prices soften, particularly among consumers planning wedding-related purchases or long-term investments.
Market experts say price movements can vary slightly from city to city because of local taxes, transportation charges and jewellers’ making costs. As a result, the final purchase price for customers may differ depending on location and the retailer.