Top News

Gold and Silver Prices See Continued Decline Across India

The domestic bullion market witnessed a continued dip in prices, with gold and silver softening for the second straight day following the festive stability seen during Akshaya Tritiya. After remaining largely unchanged on the auspicious occasion, both precious metals have now come under mild pressure across key cities including New Delhi, Mumbai, Lucknow, and Patna.

Market data indicates that gold prices have edged lower over the past two days, reflecting cautious sentiment among traders. In the national capital, the price of 24-carat gold has dropped by ₹500 per 10 grams over the last two sessions, while 22-carat gold has declined by ₹460 during the same period. On Tuesday alone, both categories recorded a marginal dip of ₹10 per 10 grams.

Silver prices, too, mirrored this trend. After remaining steady for two consecutive days, silver slipped slightly in Delhi, declining by ₹100 per kilogram.

Gold Rates Today: City-Wise Breakdown

Here’s a look at the latest gold prices (per 10 grams) across major Indian cities for different purity levels:

Among these cities, Chennai continues to report slightly higher prices compared to others, a trend often influenced by regional demand and logistics costs.

Silver Prices Today in Major Metro Cities

Silver prices have also shown mild volatility after recent fluctuations. In Delhi, silver is currently trading at ₹2,74,900 per kilogram following a ₹100 decline. Similar price levels are being observed in Mumbai and Kolkata.

However, Chennai stands out once again, where silver prices are significantly higher at ₹2,79,900 per kilogram, making it the costliest metro for silver purchases at the moment.

It is worth noting that silver had witnessed sharp swings recently—dropping by ₹5,000 on April 17 and then surging by ₹10,000 the very next day before stabilizing during the festive period.

What’s Driving the Market Movement?

The recent softness in gold and silver prices can be attributed to a mix of global and domestic factors. Analysts point to easing demand after the festive buying rush and cautious investor sentiment amid uncertain global cues.

Geopolitical developments, particularly rising tensions in West Asia, continue to play a significant role in shaping market direction. Additionally, traders are closely monitoring global economic indicators, especially from the United States and the United Kingdom.

Key data points expected to influence bullion prices this week include retail sales figures, housing market updates, and consumer sentiment reports from the U.S. Alongside these, manufacturing and services sector PMI data from major economies are likely to impact investor outlook.

Outlook: Will Prices Rebound or Stay Soft?

Market experts suggest that the near-term trajectory of gold and silver will largely depend on external triggers such as crude oil price trends, currency fluctuations, and macroeconomic data releases.

If global uncertainties persist, safe-haven demand for gold could return, potentially pushing prices higher again. However, if economic data signals stability and inflation concerns ease, prices may remain under pressure in the short term.

For now, buyers and investors are advised to keep a close watch on international developments and currency movements before making major decisions.

Bottom Line

Gold and silver prices have entered a brief cooling phase after the festive surge, offering a potential opportunity for buyers. However, with global factors still in flux, volatility is expected to remain a key theme in the bullion market over the coming days.