Gold and silver prices edged higher across major Indian cities on Tuesday, staying close to record levels as strong global cues continued to support precious metals. The rise comes amid expectations of easier monetary policy in the US, a softer dollar and ongoing geopolitical uncertainties, all of which have boosted safe-haven demand.
In Mumbai, 24-carat gold was priced at around ₹1,36,820 per 10 grams, while 22-carat gold traded near ₹1,25,418 per 10 grams. In the national capital Delhi, 24-carat gold stood at approximately ₹1,36,590 per 10 grams, with 22-carat gold at ₹1,25,208.
Other major cities also reported elevated rates. In Chennai, 24-carat gold was quoted at about ₹1,37,220 per 10 grams, while Bengaluru saw prices near ₹1,36,930. Hyderabad and Kolkata recorded similar levels, reflecting firm demand and regional price variations linked to local taxes and logistics.
Silver prices showed a stronger momentum compared to gold, supported by both industrial demand and investment buying. In Mumbai, silver was priced at around ₹2,12,110 per kilogram. Prices in Chennai hovered near ₹2,13,100 per kg, while Hyderabad and Bengaluru saw silver trading between ₹2,12,600 and ₹2,12,800 per kg.
Market experts say the current rally in bullion is driven by expectations of interest rate cuts by the US Federal Reserve, which makes non-interest-bearing assets like gold and silver more attractive. Continued central bank purchases and supply constraints, especially in silver, have also added support.
While prices remain elevated, analysts advise investors to be cautious at current levels and consider staggered buying rather than lump-sum investments, as short-term volatility cannot be ruled out.