Gold prices in India recorded a modest increase on Wednesday as investors continued to view the precious metal as a safe-haven asset amid rising tensions between the United States and Iran and ongoing fluctuations in the US dollar. Domestic gold prices rose by around 0.14% compared with the previous day.
Amid global economic uncertainty and geopolitical tensions, gold has continued to attract investor interest. While gold prices moved higher, silver prices registered a slight decline during the session. Market participants attributed support for gold prices to increased demand for safe-haven investments.
Ongoing diplomatic uncertainty between the United States and Iran, volatility in global currency markets, and cautious investor sentiment have influenced demand for precious metals. In this environment, gold has continued to attract investment demand.
Across most major Indian cities, the price of 24-carat gold has reached around ₹1.56 lakh per 10 grams. Prices of 22-carat and 18-carat gold also increased. Analysts said strength in international gold markets and increased investor buying activity have influenced domestic prices. Higher gold reserve accumulation by central banks and global economic risks have also supported prices.
Jewellery industry representatives said the increase in prices ahead of the festival and wedding season could affect consumers, although gold continues to be viewed as an attractive investment asset.
In Delhi, 24-carat gold was priced at ₹1,56,360 per 10 grams, while 22-carat gold stood at ₹1,43,340 per 10 grams.
In Mumbai, 24-carat gold was priced at ₹1,50,890 per 10 grams and 22-carat gold at ₹1,43,700 per 10 grams.
In Bengaluru, 24-carat gold was priced at ₹1,51,520 per 10 grams, while 22-carat gold was quoted at ₹1,44,300 per 10 grams.
In Kolkata, 24-carat gold was priced at ₹1,56,210 per 10 grams and 22-carat gold at ₹1,43,190 per 10 grams.
In Lucknow and Noida, 24-carat gold was priced at ₹1,56,360 per 10 grams, while 22-carat gold stood at ₹1,43,340 per 10 grams.
Gold prices showed minor variations across metropolitan cities. Prices remained relatively higher in the National Capital Region and several cities in northern India, while some cities in western and southern India reported marginal differences. Market experts said variations in local taxes, transportation costs, and demand-supply conditions contribute to city-wise price differences.
Silver prices eased slightly on Wednesday, with the price per kilogram recording a marginal decline, although prices remained near historically elevated levels. Silver demand continues to be supported by its use in electronics, solar energy, medical equipment, and industrial manufacturing in addition to investment demand.
Experts said the combination of industrial and investment demand could continue to keep silver relevant for investors. Separately, the Government of India and the Directorate General of Foreign Trade (DGFT) have tightened controls on certain silver imports.
