Noida, June 9 (APAC Media): Gold and silver prices in India edged lower in early trade on Tuesday, tracking weak global cues and a marginal rebound in the US dollar, while investors remained cautious amid uncertainty over interest rate trends in major developed economies, dealers said.
In the domestic bullion market, 24-carat gold was quoted around ₹1.55 lakh per 10 grams in Delhi, while 22-carat gold was priced in the range of ₹1.39 lakh to ₹1.45 lakh per 10 grams.
In Mumbai, prices were slightly lower compared with the national capital, reflecting local tax structures and retail premiums, bullion traders said.
City-wise Gold and Silver Prices
| City | 24K Gold (10g) | 22K Gold (10g) | Silver (1 kg) |
|---|---|---|---|
| Delhi | ₹1,54,798 | ₹1,41,794 | ₹2,45,000 |
| Mumbai | ₹1,54,799 | ₹1,41,795 | ₹2,45,000 |
| Chennai | ₹1,54,798 | ₹1,41,794 | ₹2,45,000 |
| Kolkata | ₹1,54,798 | ₹1,41,794 | ₹2,45,000 |
| Bengaluru | ₹1,54,798 | ₹1,41,794 | ₹2,45,000 |
| Hyderabad | ₹1,54,798 | ₹1,41,794 | ₹2,45,000 |
Market participants noted that price movements remained limited within a narrow range as investors balanced safe-haven demand against profit booking at elevated levels. Physical demand from jewellery buyers continued, though sentiment was described as cautious due to high retail prices.
Silver prices also witnessed fluctuations, with the metal trading in the ₹2.40 lakh to ₹2.60 lakh per kilogram band across key Indian markets.
Traders said industrial demand from sectors such as solar energy, electronics and manufacturing continued to provide underlying support, even as investment demand showed signs of moderation.
Analysts said gold continues to benefit from intermittent safe-haven inflows amid ongoing geopolitical uncertainties and concerns over global economic growth.
However, the upside remains capped due to strength in the US dollar and expectations surrounding future policy signals from the US Federal Reserve.
They added that volatility in bond yields and currency movements is likely to keep bullion prices range-bound in the near term. Market direction will largely depend on incoming inflation data, central bank commentary and broader macroeconomic indicators.
In the domestic market, seasonal demand, particularly from the wedding and festive segments, is expected to offer support in the coming weeks.
However, elevated price levels may continue to influence consumer buying patterns, limiting sharp upside in retail demand, traders said.
Overall, analysts expect bullion markets to remain volatile with a sideways bias in the short term, as participants await clearer global economic cues.
— 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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