New Delhi: Gold prices in India’s physical bullion market staged a notable recovery on Tuesday, snapping a four-day losing streak as the yellow metal climbed ₹1,200 to close at ₹1,44,800 per 10 grams in the national capital.
According to the All India Bullion Association, 99.9 percent purity gold had settled at ₹1,43,600 per 10 grams (including all taxes) on Monday. The fresh uptick brought some relief to buyers and jewellers after recent weakness, even as silver prices remained unchanged at ₹2,30,000 per kilogram, defying expectations of further volatility.
Market observers noted that bullion prices showed a mixed trend during late trade on March 24. Domestic markets displayed mild softness despite supportive signals from overseas exchanges.
On the Multi Commodity Exchange (MCX), gold futures for the near-month contract eased 0.06 percent, or ₹79, to settle at ₹1,39,181 per 10 grams compared with the previous close of ₹1,39,260. Silver futures dropped more sharply by 0.93 percent, or ₹2,094, to ₹2,23,073 per kg from ₹2,25,167.
In contrast, international benchmarks reflected firmness. Comex gold advanced 0.28 percent to USD 4,419.70 per ounce, while Comex silver gained 0.94 percent to USD 70.005 per ounce, highlighting a divergence between local and global trends.
Early morning spot rates in the domestic market on March 25 indicated continued softening in certain purities and quantities. 24K gold was quoted at ₹14,291 per gram, down ₹38 from the previous session. For 10 grams of 24K gold, the rate stood at ₹1,42,910, lower by ₹380. The price for 100 grams of 24K gold fell ₹3,800 to ₹14,29,100, while 8 grams declined ₹304 to ₹1,14,328. In the 22K segment, the rate eased ₹35 to ₹13,100 per gram.
The article from india.com highlighted that these fluctuations come after a prolonged period of sharp gains in bullion prices over recent months. No specific city-wise physical gold rates for Delhi, Kolkata, Mumbai, Hyderabad, Chennai, Surat, Jaipur or Lucknow were detailed in the latest update beyond the Delhi spot figures.
Traders and investors will be closely watching global developments and domestic demand patterns for cues on whether the recovery in physical gold sustains or faces renewed pressure in the coming sessions.