Highlights:
- 24-carat gold price falls ₹10 to ₹1,52,720 per 10 grams.
- 22-carat gold declines to ₹1,39,990 per 10 grams.
- Silver prices drop ₹100 to ₹2,74,900 per kg.
- Delhi records highest 24-carat gold rate at ₹1,55,900.
- US gold prices extend losses after strong jobs data.
- Rising oil prices fuel inflation concerns globally.
- Gold demand remains subdued in India amid volatility.
- Investors await further cues on interest rate outlook.
Gold and silver prices witnessed a marginal decline in early trade on Monday, reflecting weakness in international bullion markets and cautious investor sentiment. According to market data, the price of 24-carat gold slipped by ₹10 to ₹1,52,720 per 10 grams, while 22-carat gold also fell by ₹10 to ₹1,39,990 per 10 grams.
Silver prices followed a similar trend, declining by ₹100 to ₹2,74,900 per kilogram. The movement comes amid growing concerns over global inflation, rising crude oil prices, and expectations of further interest rate hikes in the United States.
In major Indian cities, the price of 10 grams of 24-carat gold stood at ₹1,52,720 in Mumbai, Kolkata, and Hyderabad. Chennai reported a higher rate of ₹1,54,900, while Delhi recorded the highest price among major metros at ₹1,55,900 per 10 grams.
For 22-carat gold, prices remained at ₹1,39,990 per 10 grams in Mumbai, Kolkata, Bengaluru, and Hyderabad. In Chennai, the rate was higher at ₹1,41,990, while Delhi traders quoted the yellow metal at ₹1,40,140 per 10 grams.
Silver prices also varied across regions. One kilogram of silver was priced at ₹2,64,900 in Delhi, Mumbai, and Kolkata, while Chennai reported a higher rate of ₹2,69,900 per kilogram.
Internationally, gold prices continued their downward trend. Spot gold slipped 0.2 percent to $4,321.49 per ounce, extending losses from the previous session. Market analysts attribute the decline to stronger-than-expected US employment data, which has increased expectations that the Federal Reserve may keep interest rates elevated for longer.
Higher interest rates typically reduce the appeal of non-yielding assets such as gold. At the same time, escalating geopolitical tensions and rising crude oil prices have heightened inflation concerns, creating uncertainty across financial markets.
Despite global economic uncertainties, physical gold demand in India remained subdued last week as buyers stayed cautious due to sharp price fluctuations. Market participants are now closely monitoring global economic indicators and central bank signals for further direction in precious metal prices.
