India Gold Prices Decline Amid Geopolitical Uncertainty

Gold and silver prices declined in India on Friday due to heightened geopolitical uncertainty. The movement in bullion markets was influenced by investor concerns over possible economic measures between the US and Iran.

In New Delhi, 24-carat gold traded at ₹152,100 per 10 grams, while 22-carat gold stood at ₹139,425 per 10 grams. Silver of 999 purity was quoted at ₹233,360 per kg.

The prices in other major cities were similar, with Bengaluru reporting 24-carat gold at ₹152,480 per 10 grams and silver at ₹233,950 per kg. The IBJA noted that retail bullion prices may differ across cities and jewellers due to variations in local taxes, premiums, making charges, and other costs.

The movement in bullion markets comes against the backdrop of global economic uncertainty. Gold is traditionally viewed as a safe-haven asset during such periods, but prices can also be influenced by movements in the US dollar, interest-rate expectations, global bond yields, and investor demand.