In early trading on Thursday, domestic gold prices witnessed a modest decline, with the yellow metal slipping by ₹10 to trade at ₹1,58,280 per 10 grams for 24-carat purity, according to the *GoodReturns* website. Silver prices followed suit, falling ₹100 to settle at ₹2,84,900 per kilogram.
The price of 22-carat gold also eased by ₹10, with ten grams of the metal available at ₹1,45,090. Regional variations persisted across major cities. In Mumbai, Kolkata, and Hyderabad, 24-carat gold was priced at ₹1,58,280 per 10 grams, while it commanded ₹1,59,810 in Chennai. In Delhi, the rate stood at ₹1,58,430 for the same quantity.
For 22-carat gold, Mumbai, Kolkata, Bengaluru, and Hyderabad quoted ₹1,45,090 per 10 grams, compared to ₹1,46,490 in Chennai and ₹1,45,240 in Delhi. Silver prices showed similar patterns, holding at ₹2,84,900 per kilogram in Delhi, Kolkata, and Mumbai, while Chennai recorded a higher rate of ₹2,89,900.
On the international front, gold prices came under pressure following fresh US strikes on Iran, which drove oil prices higher and raised concerns over potential inflation spikes that could influence monetary policy decisions. Spot gold declined 0.8 per cent to $4,419.60 per ounce as of 0129 GMT. US gold futures for June delivery dropped 0.7 per cent to $4,417.10 per ounce.
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The strengthening US dollar also contributed to the downward movement, making dollar-denominated assets costlier for buyers using other currencies. Spot silver fell more sharply by 1.7 per cent to $73.34 per ounce. Platinum lost 0.5 per cent to $1,909.15, while palladium slipped 0.7 per cent to $1,381.64.
These movements reflect the sensitivity of precious metals to geopolitical developments and currency fluctuations. The article draws on inputs from Reuters for the global price updates.