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Domestic Prices Slip While Global Gold Rise
New Delhi: Gold prices in India witnessed a slight decline in early trading on Tuesday. The rate of 24-carat gold fell by Rs 10, bringing the price of 10 grams to Rs 1,53,700 in several major cities. In the national capital New Delhi, gold was priced marginally higher at Rs 1,53,850 for the same quantity.
Across metro cities, gold prices showed minor differences. The precious metal was trading at Rs 1,53,700 per 10 grams in Mumbai, Kolkata, and Hyderabad, while the Chennai recorded a higher rate of Rs 1,55,250. These variations are largely due to local taxes and demand trends.
Silver followed a similar trend, slipping by Rs 100 in domestic markets. The price of one kilogram of silver stood at Rs 2,59,900, reflecting subdued demand and minor corrections in the bullion segment.
In contrast to domestic trends, international gold prices moved slightly upward. Spot gold rose 0.2% to $4,693.04 per ounce, while US gold futures for June delivery gained 0.3% to $4,707.80 per ounce. The uptick reflects cautious investor sentiment in global markets.
Market movements are being shaped by ongoing geopolitical developments. Donald Trump recently reviewed a proposal from Iran aimed at resolving the ongoing conflict in West Asia. Discussions with senior US officials indicate continued uncertainty, which has implications for global energy supplies and investor confidence.
The mixed trend falling domestic prices and rising global rates highlights the influence of currency movements, local demand and international developments. Investors are likely to track geopolitical updates and global cues closely for further direction in gold and silver prices.
