Gold prices in India recorded a minor decline on Thursday, mirroring trends in international markets where spot gold hit its lowest level in over a week. According to figures reported by Business Standard, the price of 24-carat gold dropped by ₹10 to ₹97,470 per 10 grams. Silver also weakened, slipping ₹100 to ₹99,900 per kilogram in key metropolitan areas including Delhi and Mumbai.
Prices for 22-carat gold followed suit, falling ₹10 to ₹89,340 per 10 grams in cities such as Mumbai, Kolkata, Chennai, Bengaluru, and Hyderabad. Delhi remained slightly above average at ₹89,490 for the same purity level. Meanwhile, silver was quoted at ₹99,900 per kilogram in Delhi, Kolkata, and Mumbai, but reached as high as ₹1,10,900 in Chennai.
On the global front, gold prices came under renewed pressure due to a stronger U.S. dollar and improved investor risk appetite. The shift followed a U.S. federal court ruling that blocked former President Donald Trump’s proposed “Liberation Day” tariffs—an event that eased geopolitical tensions and influenced commodity markets.
Spot gold declined 0.5% to $3,262.99 an ounce in early Asian trading, marking its lowest price since May 20. Spot silver dipped 0.2% to $32.93 per ounce. Platinum held steady at $1,074.90, while palladium saw a slight rise to $964.75.
Market experts believe the downturn may be short-lived. “Investors are closely monitoring inflation data and future interest rate signals before making significant commitments,” said a Delhi-based bullion dealer. He added that seasonal factors such as weddings and festivals in India could offer near-term price support.
Despite the softening prices, demand for gold-backed financial products remains strong. Institutions like Indel Money are capitalizing on the enduring value of gold, with plans to double their Assets Under Management (AUM) to ₹4,000 crore by FY2026, driven by robust uptake in gold loans.
