New Delhi (Economy India): Gold prices declined by ₹900 per 10 grams in the national capital on Monday as a stronger Indian rupee and subdued trends in international bullion markets weighed on domestic prices.
According to the All India Sarafa Association, the price of 99.9% purity gold fell to ₹1,47,400 per 10 grams (inclusive of all taxes), down from ₹1,48,300 per 10 grams recorded in the previous trading session.
Rupee Appreciation Pressures Gold Prices
Market experts attributed the decline in domestic gold prices primarily to the appreciation of the Indian rupee against the US dollar. A stronger rupee reduces the cost of importing gold, leading to lower domestic prices.
In addition, weak sentiment in the international bullion market limited buying interest, further contributing to the decline in gold prices across major Indian markets.
Global Market Trends Remain Soft
International gold prices remained under pressure amid subdued global cues, with investors closely monitoring developments related to interest rates, the US dollar, and global economic indicators.
Analysts noted that easing geopolitical concerns and cautious investor sentiment also influenced precious metal prices during the session.
Gold Price Snapshot
| Particulars | Price |
|---|---|
| Previous Close | ₹1,48,300 per 10 grams |
| Current Price | ₹1,47,400 per 10 grams |
| Change | -₹900 |
| Gold Purity | 99.9% |
| Source | All India Sarafa Association |
Domestic Bullion Market
Despite the day’s decline, gold continues to trade at historically elevated levels, supported by long-term demand from investors and jewellery buyers. Seasonal demand, central bank purchases, and global macroeconomic uncertainty continue to provide underlying support to bullion prices.
Traders said short-term price movements are likely to remain influenced by fluctuations in the rupee, international spot gold prices, and expectations regarding global monetary policy.
(Economy India)
