Noida, June 1 (APAC Media): Gold and silver prices declined on Monday across major Indian cities, tracking softer global bullion trends and easing safe-haven demand.
Retail rates of both precious metals witnessed a marginal correction at the beginning of the month as investors booked profits amid a stronger US dollar and improved risk sentiment in global markets.
According to market data, 24-carat and 22-carat gold prices slipped in key markets, including Delhi, Mumbai, Chennai, and Kolkata.
Silver prices also traded lower, reflecting weakness in international precious metal markets.
City-wise Summary June 1.
| City | 24K Gold (10g) | 22K Gold (10g) | 999 Silver (1kg) |
|---|---|---|---|
| Delhi | ₹159,230 | ₹145,961 | ₹266,300 |
| Mumbai | ₹159,510 | ₹146,218 | ₹266,760 |
| Bengaluru | ₹159,640 | ₹146,337 | ₹266,970 |
| Kolkata | ₹159,300 | ₹146,025 | ₹266,410 |
| Hyderabad | ₹159,760 | ₹146,447 | ₹267,190 |
| Chennai | ₹159,970 | ₹146,639 | ₹267,540 |
In Delhi, 24-carat gold was quoted near ₹1.58 lakh per 10 grams, while 22-carat gold remained around ₹1.45 lakh per 10 grams.
Similar price movements were recorded in Mumbai and other metropolitan cities. Silver prices hovered close to ₹2.80 lakh per kilogram in several markets.
Visual Price Comparison
24K Gold (₹ per 10g)
Delhi ████████████████████████████ 159,230
Mumbai ████████████████████████████ 159,510
22K Gold (₹ per 10g)
Delhi ██████████████████████████ 145,961
Mumbai ██████████████████████████ 146,218
999 Silver (₹ per kg)
Delhi ███████████████████████████████████████████ 266,300
Mumbai ███████████████████████████████████████████ 266,760
Market analysts attributed the decline to a combination of profit-booking by investors, a relatively stronger US dollar, and reduced geopolitical concerns that had previously supported demand for safe-haven assets such as gold.
Recent developments in global markets have encouraged traders to shift toward riskier assets, putting pressure on bullion prices.
Despite the short-term correction, experts believe gold continues to remain an important hedge against inflation and economic uncertainty.
Central bank purchases and long-term investment demand are expected to provide support to prices over the coming months.
Industry observers noted that consumers planning jewellery purchases may find the current dip attractive, especially with the wedding and festive demand cycle expected later in the year.
However, analysts advised buyers and investors to monitor international economic indicators, currency movements, and central bank policy decisions, which are likely to influence future price trends.
Gold and silver rates vary slightly across cities due to local taxes, transportation costs, and dealer margins.
Disclaimer:Â Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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