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Gold prices in India declined on Monday, marking a weak start to the week. The international market reacted to uncertainty over potential US Federal Reserve rate cuts, strengthening the dollar and pressuring gold rates globally. In Delhi, 24-carat gold dropped to ₹1,25,220 per 10 grams.
Gold Turns Cheaper As Week Begins
New Delhi: Gold prices fell on Monday, the first day of the week. Weak international gold rates and the strengthening US dollar are directly impacting the Indian market. Increased uncertainty over interest rate cuts by the US Federal Reserve has put pressure on the market, leading to a decline in gold prices across the country.
In the capital, Delhi, the price of 24-carat gold was recorded at Rs 1,25,220 per 10 grams today, while the price of 22-carat gold was Rs 1,14,800 per 10 grams.
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Market experts say that due to Federal Reserve signals and weak global consumption, prices may remain volatile in the coming days.
Gold prices are also falling in major cities like Mumbai, Chennai, and Kolkata.
22-carat gold: Rs 1,14,640 per 10 grams
24-carat gold: Rs 1,25,070 per 10 grams
According to experts, the wedding season in South India may increase demand, but prices are not showing an immediate rebound due to global pressure.
Today's gold rates in Pune and Bengaluru are as follows:
24-carat: ₹1,25,070 per 10 grams
22-carat: ₹1,14,640 per 10 grams
Demand is stable in both cities, but falling prices have provided some support to retailers' sales.
Today's Gold Rates by City (₹ per 10 grams)
City 22 Carat 24 Carat
Delhi 1,14,790 1,25,220
Mumbai 1,14,640 1,25,070
Ahmedabad 1,14,690 1,25,120
Chennai 1,14,640 1,25,070
Kolkata 1,14,640 1,25,070
Hyderabad 1,14,640 1,25,070
Jaipur 1,14,790 1,25,220
Bhopal 1,14,690 1,25,120
Lucknow 1,14,790 1,25,220
Chandigarh 1,14,790 1,25,220
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Along with gold, silver prices also saw a decline. Today, silver is trading at ₹1,68,900 per kilogram. Silver prices have risen by ₹16,500 in the past week, but the current decline is linked to global cues.
Experts say that US economic data and the performance of the dollar index will continue to influence gold and silver prices in the coming days.