Gold prices declined marginally today after a brief phase of stability, driven by profit booking in domestic markets. After a strong two-day rally, investors chose to lock in gains, leading to a mild correction in gold and silver rates.
Precious Metals Ease After Two-Day Rally
New Delhi: Gold and silver prices fell slightly today after a day of stability due to profit-booking. After two consecutive days of gains, the market had stabilized, and now investors have begun to book profits. This has directly impacted the prices of precious metals. In the capital, Delhi, 24-carat gold fell by ₹10 per 10 grams today, while the price of 22-carat gold also fell by ₹10.
It's worth noting that before the recent decline, gold prices had seen a sharp rise in the two trading days. During this period, 24-carat gold rose by ₹2,460 per 10 grams, while the price of 22-carat gold rose by ₹2,250. A correction in the market after such a sharp rise is considered natural.
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There is a slight variation in gold prices across major cities across the country.
In Delhi, Lucknow, and Jaipur, 24-carat gold is trading at ₹1,40,600 per 10 grams.
In Mumbai, Kolkata, Hyderabad, and Bengaluru, 24-carat gold is selling at ₹1,40,450 per 10 grams.
In Chennai, 24-carat gold prices are slightly lower at ₹1,39,640 per 10 grams.
Prices of 22-carat and 18-carat gold also vary slightly by city, but the overall trend is down.
Along with gold, silver prices also saw a decline today. In Delhi, one kilogram of silver fell by ₹100 to ₹2,59,900 per kilogram. Silver is selling at the same price in Mumbai and Kolkata. However, silver remains the most expensive in Chennai, where it is priced at ₹2,74,900 per kilogram.
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Gold saw a historic surge during 2025, leading investors to expect its pace to slow down. However, many major fund managers globally remain positive on gold.
Mike Wilson, Chief Investment Officer at Morgan Stanley, believes that gold has now become a kind of "anti-fiat currency play." He says that the factors that drove gold to record levels still persist.
However, experts also warn that a significant rally could be followed by a prolonged period of sluggishness. History shows that after the sharp rallies of 2011 and 1979, gold took several years to regain its highs. Therefore, gold's shine may remain, albeit with mild fluctuations, in the near future.
