Gold and silver prices continued to trade lower on Tuesday, September 29, following a sharp decline in the domestic market on Monday, September 28. Both precious metals remained under pressure across international markets and the Indian commodity market.
On Monday, gold prices declined by around Rs 4,000, while silver prices fell by approximately Rs 7,500. Prices remained subdued during Tuesday’s trading session as well.
Gold and silver prices also declined in international markets on Tuesday. According to available data, the Comex Gold Price was trading around 0.05% lower at approximately $4,166.40 per ounce. The Comex Silver Price declined by around 1.13% and was trading at approximately $61.020 per ounce.
In global markets, price movements are influenced by factors including the dollar, bond yields, geopolitical developments and investors’ risk sentiment.
The weakness in international markets was also reflected in the Indian market. In the domestic bullion market, gold was trading lower at around Rs 1.48 lakh per 10 grams, while silver was trading at around Rs 2.26 lakh per kilogram.
Despite the recent decline, gold and silver remained at elevated levels.
Precious metals also traded lower on the Multi Commodity Exchange (MCX) on Tuesday. According to available data, October-delivery gold was trading around Rs 1,48,860 per 10 grams after declining by approximately Rs 122.
Silver declined by around Rs 1,400, with its price reaching approximately Rs 2,26,306 per kilogram.
Market prices can change continuously. In addition, the final price of jewellery can differ from the commodity market price because of making charges, GST and other applicable charges.
According to available market data, 24-carat gold was trading at around Rs 1,47,570 per 10 grams on Tuesday, while 22-carat gold was trading at approximately Rs 1,35,273 per 10 grams.
The price of 18-carat gold was around Rs 1,10,678 per 10 grams. Silver was also reported to be trading at approximately Rs 2,26,240 per kilogram.
