Gold and silver prices declined in the bullion market on February 26, with 24-carat gold in Delhi falling to Rs 1,62,050 per 10 grams and silver easing to Rs 2,75,287 per kilogram.
The decline follows a sharp rise a day earlier, when gold had reached a new level. Market softness was observed amid a stable trend in global markets and profit booking by investors.
In the national capital, the price of 24-carat gold dropped to Rs 1,62,050 per 10 grams from Rs 1,64,200 per 10 grams recorded previously, reflecting a decline within a day.
In Mumbai, 24-carat gold was trading at Rs 1,61,900 per 10 grams, marginally lower than Delhi.
The price of 22-carat gold in Mumbai, Chennai and Kolkata was recorded at Rs 1,48,410 per 10 grams, while 18-carat gold was available at Rs 1,21,425 per 10 grams. Variations across markets reflect differences in local taxes, demand and transportation costs.
In Delhi, 22-carat gold was priced at Rs 1,48,560 per 10 grams, while 18-carat gold stood at Rs 1,21,537 per 10 grams.
In Pune and Bengaluru, 24-carat gold was selling at Rs 1,61,900 per 10 grams, and 22-carat gold was priced at Rs 1,48,410 per 10 grams. Major cities across the country recorded a similar trend, with prices declining during the session.
Silver prices also eased on February 26. The metal fell to Rs 2,75,287 per kilogram in the morning session. A day earlier, silver had risen by Rs 5,900 to reach Rs 2,78,364 per kilogram.
In the international market, spot gold was quoted at $5,193 per ounce, while silver was priced at $90.30 per ounce.
Domestic bullion prices are influenced by movements in the global market, including fluctuations in the US dollar, the direction of interest rates and investor positioning. Recent profit booking in safe-haven assets contributed to the moderation in prices.
