Gold prices declined across India on Monday, extending their recent downward trend amid subdued global market sentiment. Despite the decline, the precious metal continued to trade above ₹1.43 lakh per 24-karat (24K) unit in major cities, reflecting sustained demand and elevated price levels. Chennai recorded the highest gold price among the country's metropolitan cities, while silver prices remained above ₹2,190 per 10 grams nationwide.
According to the latest market data, the national price of 24-karat gold stood at ₹1,43,401.00. Among major cities, Chennai recorded the highest rate at ₹1,44,710.78, followed by Kolkata at ₹1,44,545.18. Gold was priced at ₹1,43,558.41 in Mumbai, ₹1,43,415.00 in Bengaluru and ₹1,43,401.00 in Delhi. The variation in prices across cities is primarily due to differences in local taxes, transportation costs and dealer margins.
Silver prices also remained firm despite the broader weakness in precious metals. The national price of silver stood at ₹2,193.50 per 10 grams. Chennai once again topped the list with silver priced at ₹2,213.74 per 10 grams, followed by Kolkata at ₹2,209.43. In other major markets, silver was priced at ₹2,195.69 in Mumbai, ₹2,193.50 in Delhi and ₹2,191.89 in Bengaluru.
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Precious metal prices in India are influenced by several domestic and international factors, including global spot prices, movements in the US dollar, interest rate expectations, central bank policies and geopolitical developments. Changes in import duties, the rupee's exchange rate against the dollar and local demand during festive and wedding seasons also play a significant role in determining retail prices. Gold, in particular, is widely regarded as a safe-haven asset during periods of economic uncertainty, while silver is influenced by both investment demand and industrial consumption.
Although prices have eased in recent sessions, gold continues to trade at historically elevated levels, reflecting persistent investor interest amid an uncertain global economic environment. Market participants will closely monitor upcoming economic data and signals from major central banks, particularly the US Federal Reserve, for indications on the future trajectory of interest rates. Any changes in global monetary policy or geopolitical tensions could influence the direction of gold and silver prices in the coming days.
The latest price movement offers some relief to buyers after recent highs but does not significantly alter the broader outlook for precious metals. Investors and jewellery buyers are advised to keep track of daily price fluctuations, as bullion rates can change in response to developments in international markets and domestic economic conditions. Retail prices may also vary slightly across jewellers depending on making charges, taxes and other local factors.
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