The wedding season is about to begin and with it comes some good news. Gold prices have already fallen slightly ahead of the season; Although this decline is minor, it can provide a lot of relief to jewelry buyers. Gold prices fell marginally by ₹200 in the capital on Tuesday, while silver prices remained steady due to lack of domestic demand. Let’s take a look at the current gold and silver prices in Delhi…
**How much has the price of gold fallen?**
According to market experts, the price of 99.9% pure gold has declined by ₹200 – from Monday’s level of ₹1,59,400 per 10 gram (including all taxes) to ₹1,59,200 per 10 gram. However, silver prices remained steady at ₹2,60,700 per kg. Analysts said that due to reduced geopolitical tension, sentiment in the domestic equity market has strengthened and the rupee has received support, due to which investors are moving away from precious metals. However, he also said that strong global trends limited the downside in the domestic market, as bullion prices rose in the international market as concerns over energy-related inflation eased.
**Trends of gold and silver in international market**
In the global market, spot gold and silver prices were trading at US$4,344.36 and US$70.43 an ounce, respectively. Praveen Singh, head of commodities at Mirae Asset Sherkhan, said spot gold was benefiting from the fall in oil prices, which hit new lows on Tuesday after US Vice President JD Vance electronically signed the US-Iran deal. Kainaat Chenwala, AVP of Commodity Research at Kotak Securities, said silver remained near $70.5 an ounce as traders adopted a cautious stance ahead of key US economic data and the Federal Reserve’s policy decision. Jatin Trivedi, VP of Commodity and Currency Research at LKP Securities, said market participants are also closely monitoring the developments related to the US-Iran deal, which is impacting the sentiment in the bullion and commodity markets.
