Gold prices witnessed a noticeable decline across major Indian cities, including Mumbai, Pune, and Delhi, offering some relief to buyers and investors. The drop comes amid broader market fluctuations and changing global trends affecting precious metal prices.
24-Carat Gold Sees Significant Drop
According to market data, 24-carat gold prices have fallen sharply in recent sessions. In some markets, the per tola rate declined by nearly ₹320, reflecting a cooling trend after recent highs.
As of today, 24-carat gold is trading at approximately ₹13,588 to ₹13,620 per gram in cities such as Mumbai and Pune, with similar levels observed in Delhi.
22-Carat Gold Also Trades Lower
The decline is also visible in 22-carat gold prices, which are commonly used for jewellery. Current rates in Mumbai and Pune are hovering around ₹12,455 to ₹12,485 per gram, marking a drop compared to previous days.
Weaker Demand and Global Trends Impact Prices
Market experts suggest that the fall in gold rates may be due to weaker demand and shifts in global gold prices. International market movements, currency fluctuations, and investor sentiment continue to play a key role in determining domestic gold prices.
Broader Precious Metals Market Under Pressure
The decline in gold prices comes amid broader market volatility, including changes in silver prices and global economic indicators influencing the precious metals segment. These factors have contributed to short-term price corrections.
City-Wise Variations, But Overall Downward Trend
While gold prices vary slightly from city to city due to local taxes and demand, the overall trend remains downward, making gold relatively cheaper compared to recent days.
With wedding season demand and investor interest closely watched, market participants will now look to global cues to see whether gold prices stabilize or continue to soften in the coming days.
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