Gold and Silver Prices Decline in India Amid Global Market Trends
Gold price dips ₹10 to ₹1,49,610; silver down ₹100, trades at ₹2,64,900
Business Standard
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On Tuesday, the price of 24-carat gold in India fell by ₹10 to ₹1,49,610 per ten grams, while silver decreased by ₹100 to ₹2,64,900 per kilogram. The decline reflects global market trends influenced by rising oil prices and inflation concerns.
- 0124-carat gold price decreased by ₹10 to ₹1,49,610 per ten grams.
- 02Silver price fell by ₹100, trading at ₹2,64,900 per kilogram.
- 03Prices vary across Indian cities, with Chennai showing higher rates.
- 04US gold prices rebounded slightly but remain under pressure from inflation fears.
- 05Spot silver and other metals also saw minor gains in the global market.
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In early trading on Tuesday, the price of 24-carat gold in India dipped by ₹10, bringing the cost to ₹1,49,610 per ten grams. The price of 22-carat gold also fell by ₹10, trading at ₹1,37,140 per ten grams. Silver saw a decline of ₹100, with one kilogram priced at ₹2,64,900. Prices vary across major cities; for instance, in Chennai, 24-carat gold costs ₹1,52,720, while 22-carat gold is at ₹1,39,990. Meanwhile, global gold prices saw a slight rebound, with spot gold rising 0.5% to $4,541.39 per ounce, following a drop to its lowest level since March 31. This fluctuation is attributed to ongoing inflation concerns stemming from elevated oil prices, which continue to cloud the outlook for US interest rates.
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The decline in gold and silver prices may influence consumer purchasing decisions, particularly for jewelry and investment purposes.
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