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Gold rates in India continued their downward trend on April 24, 2026, extending losses across major cities including Delhi, Mumbai, and Chennai. The precious metal has been under pressure due to global economic factors, with experts pointing to a strong US dollar, rising crude oil prices, and increasing bond yields as key reasons behind the decline. Silver prices have also followed a similar path, registering notable weakness in domestic markets.

Gold Prices Fall in Major Indian Cities

According to the latest market updates, the price of 24-carat gold in Delhi has dropped to ₹1,53,690 per 10 grams, while 22-carat gold is priced at ₹1,40,890 per 10 grams. In Mumbai, both 22-carat and 24-carat gold are slightly lower, trading at ₹1,40,740 and ₹1,53,540 per 10 grams respectively.

Chennai continues to show slightly higher rates compared to other metro cities. Here, 24-carat gold is currently priced at ₹1,54,470 per 10 grams, while 22-carat gold stands at ₹1,41,590 per 10 grams. Meanwhile, Kolkata reflects similar trends as Mumbai, with 24-carat gold at ₹1,53,540 and 22-carat at ₹1,40,740 per 10 grams.

Other cities like Pune and Bengaluru also report similar pricing, with 24-carat gold at ₹1,53,540 and 22-carat gold at ₹1,40,740 per 10 grams.

Recent Sharp Decline in Prices

The latest drop follows a sharp fall recorded just a day earlier in Delhi’s bullion market, where gold prices slipped by ₹900, bringing the rate down significantly. This ongoing decline highlights a broader bearish trend influenced by both domestic and international market conditions.

On the global front, spot gold is currently trading at $4,738.40 per ounce, indicating continued softness in international markets as well.

Why Are Gold Prices Falling?

Market analysts believe that multiple global factors are driving the current downturn in gold prices. A stronger US dollar has made gold more expensive for investors holding other currencies, reducing its demand. Additionally, rising crude oil prices have added pressure on global markets, impacting investor sentiment.

Another key factor is the increase in US bond yields. The yield on 10-year US Treasury bonds has risen by approximately 0.03% to 4.32%. Higher bond yields typically reduce the appeal of non-yielding assets like gold, prompting investors to shift towards interest-bearing instruments.

Geopolitical tensions are also playing a role. Ongoing uncertainty surrounding strategic regions such as the Strait of Hormuz, amid rising tensions between Iran and the United States, has created volatility in global markets. However, instead of boosting gold as a safe-haven asset, the combined impact of other economic factors has outweighed its appeal.

Silver Prices Also Decline

Silver prices have mirrored gold’s downward movement. As of April 24 morning, silver rates have dropped to ₹2,59,900 per kilogram in India. A day earlier, silver had already seen a sharp fall of ₹5,300 in Delhi’s bullion market, settling around ₹2,50,000 per kilogram.

In the international market, spot silver is currently priced at $76.37 per ounce, indicating continued weakness globally.

What This Means for Investors

The ongoing decline in gold and silver prices presents both challenges and opportunities for investors. While those holding gold may see short-term losses, potential buyers could benefit from lower prices. Experts suggest keeping a close watch on global economic indicators such as US dollar movement, bond yields, and geopolitical developments before making investment decisions.

Conclusion

Gold and silver prices in India remain under pressure due to a mix of global economic and geopolitical factors. With rates falling across major cities, the precious metals market continues to face uncertainty. Whether this trend persists will largely depend on international developments and investor sentiment in the coming days.