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Gold and silver prices declined across major Indian cities on November 13.
Mumbai: Gold and silver prices continued their downward movement in the Indian bullion market on November 13, as weak international trends and subdued domestic demand weighed on investor sentiment. The latest price updates show a decline in precious metal rates across several major cities, adding to the recent pressure on the market.
According to the latest market figures, 24 carat gold in Delhi is priced at Rs1,39,940 per 10 grams, while 22 carat gold stands at Rs1,28,340.
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In Mumbai, Kolkata and Chennai, 24 carat gold is trading at Rs1,39,790 per 10 grams. The rate for 22-carat gold in these cities is Rs1,28,140.
A continuous decline in gold and silver prices is being observed across the country. (Img: Pinterest)
Meanwhile, Ahmedabad and Bhopal have recorded 24 carat gold prices of Rs1,39,840 per 10 grams. The corresponding rate for 22 carat gold is Rs1,28,240.
Gold prices in Jaipur, Lucknow and Chandigarh are in line with Delhi's rates, with 24 carat gold at Rs1,39,940 and 22 carat gold at Rs1,28,340 per 10 grams.
The recent decline comes after strong festive season activity during Dhanteras. Industry estimates suggest that gold transactions during the festival reached approximately Rs60,000 crore in value, marking an estimated 15-20% increase over the previous year. However, demand appears to have softened following the festive period. On November 6, gold prices in the Delhi bullion market reportedly dropped by Rs2,500, followed by another decline of Rs2,200 in the next trading session.
Silver investors are also witnessing considerable volatility. On November 13, domestic silver prices stood at Rs1,99,900 per kilogram. The metal has experienced a substantial correction after reportedly reaching Rs4 lakh per kilogram in January this year.
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International markets are also showing weakness. Spot gold was trading at $3,880.93 per ounce, while spot silver stood at $50.12 per ounce.
Market participants expect global economic developments, currency movements and changing investment demand to remain important factors influencing precious metal prices in the coming sessions.
