Noida, Apr 7 (APAC Media): Gold and silver prices held steady in India on Tuesday, as bullion markets remained cautious amid mixed global signals and lingering geopolitical tensions in the Middle East.
Trading stayed within a narrow range, with investors closely monitoring macroeconomic indicators and cues from the Reserve Bank of India.
Metro-wise gold pricing showed minimal movement in key cities, signalling steady demand in the physical market:
• Mumbai: 22‑carat gold stood at around Rs 1,10,672 per 8 grams, while 24‑carat gold was priced at approximately Rs 1,20,736 per 8 grams.
• Delhi: 22‑carat gold was quoted at about Rs 1,10,792 per 8 grams, and 24‑carat gold at around Rs 1,20,856 per 8 grams.
In other major centres like Chennai, bullion opening rates showed 1 gram of 22‑carat gold trading near Rs 13,860, while 1 gram of 18‑carat gold was around Rs 11,560, highlighting steady consumer demand.
Precious metals on the Multi Commodity Exchange (MCX) displayed early-session volatility on Tuesday. Gold futures for near-term delivery dipped slightly before staging a modest recovery, while silver futures rose around 1%, reflecting a cautious and mixed sentiment among traders.
Analysts said that Middle East tensions and rising crude prices are creating a cautious environment for precious metals, while a stronger U.S. dollar and higher Treasury yields are limiting significant gains in gold.
The gold’s short‑term trajectory will depend on factors such as U.S. jobless claims, central bank policy cues, and demand from India’s jewellery and investment sectors. Despite trading within a narrow range on Tuesday, precious metals remained in focus, drawing cautious interest from both investors and consumers amid ongoing market uncertainties, analysts noted.
