Gold and silver prices witnessed a decline in India’s retail bullion market on Wednesday, with both precious metals trading lower in early deals amid weak global cues and cautious investor sentiment.
According to data released by the Bullion Association of India (BAI), the price of 999 purity (24K) gold fell by 0.57%, or ₹820, to ₹142,170 per 10 grams. The decline comes after recent volatility in international bullion markets, where investors continue to monitor economic indicators, central bank policy expectations, and geopolitical developments that influence demand for safe-haven assets.
Silver prices also moved lower during the session. The rate of 999 fine silver declined 0.47%, with the metal trading at approximately ₹222,620 per kilogram in the domestic retail market. The fall in silver prices mirrored the broader weakness seen across precious metals, reflecting subdued global market sentiment.
Bullion prices in India are influenced by several factors, including international spot prices, movements in the US dollar, import duties, GST, and fluctuations in the rupee against the US dollar. Domestic retail prices may also vary across cities due to local taxes, transportation costs, and jewellers’ margins.