Gold prices in the domestic market slipped slightly on Friday, while silver also recorded a small decline amid cautious trading in global commodity markets.
According to market data, the price of 24-carat gold declined by ₹10 to ₹1,62,870 per 10 grams. Meanwhile, silver prices fell by ₹100 to ₹2,84,900 per kilogram in the local market.
Similarly, 22-carat gold prices also dropped by ₹10, with the metal trading at around ₹1,47,590 per 10 grams in several major cities. Gold prices vary across cities due to factors such as local taxes, transportation costs and regional demand.
Market participants said the marginal fall comes as investors remain cautious and track developments in global markets. Precious metals have been witnessing fluctuations in recent sessions as traders respond to changes in the US dollar, economic data and geopolitical developments.
Globally, gold and silver have remained volatile due to ongoing tensions in the Middle East. The uncertainty surrounding the conflict involving the United States, Israel and Iran has increased interest in safe-haven assets like gold. During periods of geopolitical stress and financial market uncertainty, investors often shift funds toward precious metals to protect their portfolios.
Analysts said movements in the US dollar index, global bond yields and economic indicators are likely to influence bullion prices in the coming sessions. Market participants are also closely watching key US economic data releases, which could affect expectations around interest rates and investment flows into commodities.
On the Multi Commodity Exchange (MCX), both gold and silver futures have witnessed notable price swings during the week, reflecting the uncertain global environment.
Also Read: Sensex drops over 450 points, Nifty slips below 24,650