Domestic Gold Prices Fall Amid Global Bullion Market Weakness
Gold and silver prices declined in India's domestic market on Monday, mirroring weakness in global bullion markets. The decline was attributed to investors reassessing geopolitical developments and US interest rates. Spot gold was trading around $4,455.29 an ounce, while US gold futures for December delivery were down 0.6 per cent at $4,504.90.
Retail prices varied across major Indian cities, with Delhi recording the lowest price of ₹1,54,350 per 10 grams of 24-carat gold and ₹2,38,180 per kg of silver. Chennai had one of the higher retail gold rates, with 24-carat gold priced at ₹155,010 per 10 grams.
Market sentiment remained sensitive to geopolitical developments and expectations surrounding US monetary policy. Changes in interest-rate expectations can influence demand for gold, which does not generate interest income. Analysts and investors are closely watching currency movements and global economic indicators for further direction in precious-metal prices.