Gold prices in India witnessed a decline on Thursday, mirroring a weak trend in international markets. Analysts attributed the drop to subdued global cues impacting precious metals.
Domestic and International Market Movement
In the domestic futures market, the February gold contract slipped by Rs 580, or 0.43%, settling at Rs 1,34,314 per 10 grams. The downturn was echoed overseas, where Comex gold futures for February delivery declined by $12.6, or 0.29%, to $4,361.3 per ounce.
The correction was more pronounced for silver. Silver futures slated for March 2026 delivery slid by $1.18, or 1.76%, to trade at $65.72 per ounce.
Today's Gold Rates Across Major Indian Cities
Here is a look at the prevailing gold rates for 22K and 24K purity in key Indian cities on Thursday:
- Delhi: 22K gold is priced at Rs 12,375/gram; 24K at Rs 13,499/gram.
- Mumbai: 22K gold costs Rs 12,360/gram; 24K at Rs 13,484/gram.
- Bengaluru: 22K gold is Rs 12,360/gram; 24K at Rs 13,484/gram.
- Chennai: Rates remain among the highest with 22K at Rs 12,440/gram and 24K at Rs 13,571/gram.
- Kolkata: 22K gold sells for Rs 12,360/gram; 24K for Rs 13,484/gram.
- Hyderabad: 22K gold is marked at Rs 12,360/gram; 24K at Rs 13,484/gram.
- Ahmedabad: Buyers pay Rs 12,365/gram for 22K and Rs 13,489/gram for 24K.
- Jaipur: 22K gold is priced at Rs 12,375/gram; 24K at Rs 13,499/gram.
- Bhubaneswar: 22K gold stands at Rs 12,360/gram; 24K at Rs 13,484/gram.
- Kanpur: The market shows 22K gold at Rs 12,375/gram and 24K at Rs 13,499/gram.
Market Outlook and Analysis
The dip in gold price today is primarily driven by international factors. Investors and analysts closely watch global economic indicators and central bank policies, which significantly influence the gold rate in India. The simultaneous fall in silver prices indicates a broader softening in the precious metals segment. Market participants will be monitoring upcoming economic data for further direction.
