Gold and Silver Prices Decline in Delhi's Bullion Market Due to Weak Demand. Gold reached ₹90,450 and silver ₹100,000 per kg, impacted by the dollar and global factors.
Gold-Silver Price: On Tuesday, gold prices witnessed a decline in Delhi's bullion market. Due to weak demand from jewelers and retailers, 99.9% pure gold became cheaper by ₹100, settling at ₹90,450 per 10 grams. Similarly, the price of 99.5% pure gold also decreased by ₹100, reaching ₹90,000 per 10 grams.
Reasons for the Decline in Gold and Silver Prices?
Experts attribute the decline in gold prices to the rise in the dollar and bond yields. This impact was also observed in the international market, where spot gold increased by $12.56 or 0.42%, reaching $3,023.60 per ounce. Furthermore, fluctuations in gold prices are also linked to changes in US policies and reduced possibilities of a global trade war.
Decline in Silver Prices
Along with gold, silver prices also decreased. In Delhi's bullion market, silver rates, which were ₹1,00,500 per kilogram on Monday, fell by ₹500, settling at ₹1,00,000 per kilogram.
Will Gold and Silver Prices Decline Further?
According to Kotak Securities analysts, indications of some softening in US tariff policies suggest that gold prices may not decline significantly further. However, geopolitical tensions persist. Military activities are increasing near Israel and Lebanon, and military movements are intensifying in northern Gaza. Therefore, market volatility is likely to continue.
Gold Prices Across Cities
Prices of 22-carat, 24-carat, and 18-carat gold across India have also been affected. A slight decrease in gold rates has been observed in major cities like Chennai, Mumbai, Delhi, Kolkata, Ahmedabad, Jaipur, Patna, Lucknow, and others. Experts believe that if stability is maintained in the dollar and the international market in the coming days, further decline in gold and silver prices is possible.
