Gold and silver prices edged lower on Thursday as uncertainty in global markets continued to affect investor sentiment. The fall was minor, but traders remained cautious amid rising geopolitical tensions and fluctuations in the US dollar.
The price of 24-carat gold dipped by ₹10 to ₹1,58,280 per 10 grams in major Indian cities. Similarly, 22-carat gold also slipped by ₹10 and was trading at ₹1,45,090 per 10 grams.
In cities such as Mumbai, Kolkata and Hyderabad, gold prices remained largely steady at similar levels. Chennai continued to record slightly higher rates, with 24-carat gold priced at ₹1,59,810 per 10 grams. In Delhi, the rate stood at ₹1,58,430.
Silver prices also witnessed a small decline. The metal became cheaper by ₹100, bringing the price to ₹2,84,900 per kilogram in Delhi, Mumbai and Kolkata. Chennai reported higher silver prices at ₹2,89,900 per kg.
Market experts said the slight correction in bullion prices was mainly linked to international developments. A stronger US dollar reduced the appeal of gold for overseas buyers, while fresh geopolitical concerns added pressure on global commodity markets.
In the international market, spot gold prices slipped nearly 0.8 per cent, while silver prices also declined. Platinum and palladium recorded mild losses during the session.
Despite the dip, analysts believe gold continues to remain a preferred safe-haven asset for long-term investors, especially during periods of global economic uncertainty.
Reports of rising tensions involving the United States and Iran also pushed crude oil prices higher, increasing fears of inflation and uncertainty around future interest rate decisions by central banks.
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