NEW DELHI | The Indian bullion market continues to be volatile, with gold prices dropping on Tuesday after a period of stability. Conversely, silver prices saw a minor increase.
Gold became more affordable, with prices for 10 grams falling by Rs 400 to Rs 430. The price of silver, however, rose by Rs 100 per kilogram.
On Tuesday, 24-carat gold was trading between Rs 1,00,750 and Rs 1,00,900 per 10 grams across most bullion markets. Similarly, 22-carat gold was priced at around Rs 92,350 to Rs 92,500 per 10 grams. This decline indicates a continuous slump in gold prices.
Prices in Major Cities
- Delhi: 24-carat gold sold for Rs 1,00,900 per 10 grams, while 22-carat gold was at Rs 92,500.
- Mumbai: 24-carat gold was Rs 1,00,750 per 10 grams, and 22-carat gold was Rs 92,350.
- Ahmedabad: 24-carat gold was priced at Rs 1,00,800 per 10 grams, with 22-carat gold at Rs 92,400.
Silver prices saw a modest increase. In Delhi, silver was selling for Rs 1,17,100 per kilogram, while in Mumbai, it was around Rs 1,17,000 per kilogram.
The price drop was also seen in other major cities, including Bengaluru, Hyderabad, and Bhubaneswar, where 24-carat gold was at Rs 1,00,750 and 22-carat gold at Rs 92,350. Prices in Lucknow, Patna, and Jaipur also fell, offering some relief to consumers.
According to bullion market experts, the fall in gold prices is a result of a slump in the global market and the strengthening of the Indian rupee against the US dollar. The slight rise in silver prices is attributed to an increase in its industrial demand. Despite market uncertainties, gold remains a safe investment option for many.
