Indian Gold Prices Fall for Second Straight Day
Gold prices in India continued their downward trend on Wednesday, extending the pullback that began a day earlier. The national 24-karat gold rate fell to ₹1,54,200 per 10 grams, a decline of roughly ₹550 from Tuesday's ₹1,54,750.
The decline was broadly uniform across all ten cities tracked, with nine of them posting a drop in prices by around ₹500-₹550. Only Chennai's 18-karat gold rate fell by a sharper ₹500, continuing to narrow its premium over other cities.
Dealers attributed the continued softness to sustained profit-booking following Monday's sharp rally. The market has been gradually unwinding part of that gain over two consecutive sessions, rather than in a single sharp correction.
The steady US dollar and firmer Treasury yields kept gold under mild pressure through the session, traders said. Physical demand at the jewellery counter has continued to build through the week, with retailers reporting steady footfall for coins, light everyday jewellery, and wedding-season pieces alike.