Gold prices in India fell for the second consecutive day, tracking weakness in global markets. In Delhi, 24-carat gold slipped to ₹143,540 per 10 grams, while silver prices also declined. International gold prices eased amid a stronger dollar and easing geopolitical tensions.
Gold Slips Across Major Cities as Global Prices Weaken
New Delhi: Gold prices in India have fallen for the second consecutive day. On the morning of January 17th, 24-carat gold fell to ₹1,43,540 per 10 grams in the capital Delhi, while in Mumbai, it was recorded at ₹1,43,390 per 10 grams. Weakness was also seen in the international market, where the spot price of gold fell to $4,603.51 per ounce.
According to market experts, a strong dollar and easing geopolitical tensions in West Asia have slightly reduced demand for safe-haven investments. This has put pressure on gold prices. However, weak US inflation data has increased expectations of an interest rate cut by the Federal Reserve, which could provide further support for gold.
Gold prices ease after record high; Check city-wise price here
The price of 24-carat gold in Delhi has been recorded at ₹1,43,540 per 10 grams. Meanwhile, 22-carat gold is trading at ₹1,31,590 per 10 grams. Both categories have seen a slight decline compared to the previous session.
In Mumbai, Chennai, and Kolkata, the price of 24-carat gold remains at ₹1,43,390 per 10 grams, and the price of 22-carat gold remains at ₹1,31,440 per 10 grams. These cities also recorded a decline for the second consecutive day.
Gold rates remained nearly the same in Pune and Bengaluru. Here, 24-carat gold is selling at ₹1,43,390 per 10 grams, and 22-carat gold is selling at ₹1,31,440 per 10 grams.
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Along with gold, silver prices have also seen a decline. On the morning of January 17th, the price of silver in India fell to ₹291,900 per kilogram. The spot price of silver in the international market has fallen to $90.33 per ounce. Previously, silver had reached a record high of $93.57 per ounce.
Experts believe that if interest rates are cut in the US, safe-haven investments like gold and silver could see a revival. However, for now, precious metals may remain volatile due to a strong dollar and global cues.
