Gold and silver prices recorded a sharp decline in the Indian bullion market amid global economic signals and b U.S. employment data. The softness in precious metals was reflected across both the domestic bullion market and futures trading. Market experts said the strength of the U.S. economy and growing expectations regarding interest rates have shifted some investor interest away from safe-haven assets.
On Friday, gold prices in the Indian market declined by approximately ₹1,600 to ₹1,850 per 10 grams, while silver prices fell by around ₹4,000 to ₹5,800 per kilogram. As markets remain closed over the weekend, these levels are currently unchanged.
According to the latest market rates, prices of both 24-carat and 22-carat gold declined across major Indian cities. In New Delhi, 24-carat gold was priced at about ₹1,55,870 per 10 grams, while 22-carat gold stood at ₹1,42,890 per 10 grams. In Mumbai and Kolkata, 24-carat gold traded at approximately ₹1,55,720 per 10 grams and 22-carat gold at around ₹1,42,740 per 10 grams.
In Chennai, gold prices remained relatively higher, with 24-carat gold recorded at about ₹1,57,950 per 10 grams and 22-carat gold at ₹1,44,290 per 10 grams.
Silver prices also weakened alongside gold. The average retail price of silver across the country ranged between approximately ₹2,74,900 and ₹2,79,900 per kilogram. In New Delhi, silver traded at around ₹2,79,900 per kilogram, while prices in Mumbai and Kolkata were close to ₹2,75,000 per kilogram. In Chennai, silver was relatively higher at approximately ₹2,80,000 per kilogram.
Market experts said gold and silver prices are expected to remain influenced by U.S. economic data, central bank monetary policies, the strength of the U.S. dollar, and global geopolitical developments in the coming period.
