Gold prices moved higher in domestic markets on Tuesday, supported by safe-haven buying amid ongoing global economic and geopolitical uncertainties. In contrast, silver prices witnessed a marginal decline due to profit-booking after recent gains.
According to market data, the price of 24-carat gold rose to ₹1,59,440 per 10 grams, while 22-carat gold also traded higher across major cities. Silver prices, however, slipped and were quoted at ₹2,66,850 per kilogram in the retail market.
In Delhi, Mumbai, Kolkata, Chennai, Bengaluru and other key cities, gold prices remained firm with minor variations depending on local taxes and making charges. Retail rates of 24-carat gold continued to trade above ₹1.59 lakh per 10 grams, while 22-carat gold was available at comparatively lower levels. Silver prices remained elevated despite the latest decline.
Globally, gold prices remained supported by concerns over economic growth, geopolitical tensions and expectations that major central banks could consider interest rate cuts later this year. These factors have boosted demand for gold as a safe-haven asset during periods of uncertainty.
Silver prices, meanwhile, witnessed some profit-taking after a strong rally in recent sessions. Despite the correction, demand for silver continues to be supported by its extensive industrial use in sectors such as solar energy, electronics and electric vehicles, along with investment demand.
Jewellers and market experts said domestic demand for precious metals remains steady, aided by wedding-related purchases and investment buying. They expect gold and silver prices to remain volatile in the near term as global investors react to economic data releases, central bank policy signals and geopolitical developments.
Market participants will continue to track international trends, currency movements and global economic indicators for further direction in gold and silver prices.
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