New Delhi, June 24 (APAC Media): Gold and silver prices declined sharply across India on Wednesday, tracking weak global trends and sustained pressure from a stronger US dollar, according to market data.
On the Multi Commodity Exchange (MCX), gold prices fell by nearly ₹2,200 per 10 grams, while silver dropped about ₹3,300 per kilogram. The fall in domestic futures mirrored weakness in international bullion markets, where precious metals came under pressure amid expectations of higher interest rates and tighter monetary policy outlooks.
Gold & Silver Prices (India – June 24)
| City | 24K Gold (10g) | 22K Gold (10g) | 999 Silver (1 kg) |
|---|---|---|---|
| Delhi | ₹1,50,910 | ₹1,38,335 | ₹1,88,010 |
| Mumbai | ₹1,50,750 | ₹1,38,150 | ₹1,87,510 |
| Kolkata | ₹1,50,610 | ₹1,38,080 | ₹1,87,830 |
| Bengaluru | ₹1,50,860 | ₹1,38,240 | ₹1,88,150 |
| Chennai | ₹1,51,080 | ₹1,38,470 | ₹1,88,380 |
| Hyderabad | ₹1,50,980 | ₹1,38,360 | ₹1,88,060 |
Retail gold prices also eased across major Indian cities, including Delhi, Mumbai, Kolkata and Bengaluru, reflecting the broader downturn in spot demand and benchmark rate adjustments.
Traders said sentiment in the bullion market remained subdued, with investors booking profits after recent volatility.
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Silver prices registered a sharper decline compared to gold, weighed down by both investment selling and concerns over industrial demand.
Analysts noted that silver typically shows higher volatility due to its dual role as an industrial and precious metal.
Market participants attributed the weakness to a combination of global factors, including a firm US dollar index and shifting expectations around interest rate cuts by the US Federal Reserve. Higher interest rates tend to reduce the appeal of non-yielding assets such as gold and silver.
Despite the short-term correction, analysts said underlying demand for gold remains supported by central bank purchases and geopolitical uncertainties.
However, near-term price movements are expected to remain volatile, depending on incoming economic data and central bank policy signals.
Traders are closely watching global inflation data, US bond yields, and currency fluctuations for further direction in bullion prices. Experts advised caution, citing continued uncertainty in global financial markets.
— Ends —
Disclaimer:
Gold prices and rates are for informational purposes only. APAC Media is not liable for any discrepancies or financial decisions made based on this data. Please consult an authorised advisor before making investment choices.
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