New Delhi: Gold and silver prices witnessed a slight decline in early trade on Friday, offering modest relief to buyers after recent volatility in the precious metals market. According to market data, the price of 24-carat gold fell by ₹10 to ₹1,45,630 per 10 grams, while silver slipped by ₹100 to ₹2,49,900 per kilogram.
The decline comes amid ongoing uncertainty in global markets and expectations surrounding future monetary policy decisions by the US Federal Reserve.
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Gold Prices Ease Across Major Cities
The price of 22-carat gold also declined by ₹10, taking the rate to ₹1,33,490 per 10 grams. In major cities including Mumbai, Kolkata, Bengaluru and Hyderabad, 24-carat gold was priced at ₹1,45,630 per 10 grams.
In the national capital, gold traded slightly higher, with 24-carat gold priced at ₹1,45,780 per 10 grams and 22-carat gold at ₹1,33,640. Chennai continued to record the highest prices among major cities, with 24-carat gold selling at ₹1,47,270 per 10 grams and 22-carat gold at ₹1,34,990.
Silver Sees Minor Correction
Silver prices also witnessed a modest correction. The metal was trading at ₹2,49,900 per kilogram in Delhi, Mumbai and Kolkata after a decline of ₹100. In Chennai, silver remained higher at ₹2,59,900 per kilogram.
Market experts believe silver may remain under pressure in the short term as investors continue to book profits following the sharp rally witnessed earlier this year.
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Global Factors Influence Market Sentiment
Internationally, gold prices edged lower and remained on track for a weekly decline. Spot gold was trading near $4,200 per ounce, while investors closely monitored inflation data and signals from the US Federal Reserve regarding interest rates.
Analysts say easing geopolitical tensions after US President Donald Trump signaled a possible peace agreement with Iran reduced demand for safe-haven assets such as gold. Higher interest rate expectations have also weighed on the yellow metal, as rising rates typically reduce the appeal of non-yielding assets.
Despite the recent correction, market participants remain optimistic about long-term demand for gold and silver, particularly amid ongoing economic uncertainties and strong investor interest in precious metals.
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