Gold and silver prices edged lower in the domestic market on Monday, giving slight relief to buyers after recent sharp movements in precious metals. The price of 24-carat gold fell by ₹10 to ₹1,55,770 per 10 grams, while silver dropped ₹100 to ₹2,74,900 per kilogram.
The price of 22-carat gold also declined by ₹10, with 10 grams trading at ₹1,42,790 in major cities. In Delhi, 24-carat gold was priced slightly higher at ₹1,55,920, while 22-carat gold stood at ₹1,42,940. Prices in Mumbai and Kolkata remained close to the national average, while Chennai continued to trade at a premium.
The fall in domestic prices followed weakness in international bullion markets. Global gold rates slipped as the US dollar strengthened, making gold more expensive for overseas buyers. A stronger dollar often puts pressure on gold prices because the metal is traded internationally in the US currency.
Investors also remained cautious due to ongoing geopolitical tensions and uncertainty in global markets. Concerns over inflation, interest rates and international conflicts continue to influence the movement of safe-haven assets such as gold.
Market experts said gold is facing mixed signals. On one hand, higher bond yields and a stronger dollar reduce its appeal because gold does not generate interest income. On the other hand, global uncertainty and inflation worries continue to support demand for the yellow metal.
Silver prices also moved lower in line with gold. Besides being a precious metal, silver is widely used in industrial sectors such as electronics, solar panels and manufacturing. Because of this, silver prices often react to both investment demand and economic growth expectations.
In India, jewellery demand has remained moderate as many consumers are delaying purchases due to high prices. Buyers are waiting for a bigger correction before making festive or wedding-related purchases. However, investment demand through bullion and digital gold products has remained steady.