Gold and silver prices fluctuate in India amid global market shifts

Gold and silver prices in India are experiencing significant volatility due to global economic factors and domestic demand. While some reports indicate a recent softening in gold prices following a period of rapid increases, others note slight upward trends driven by global demand and inflation.

Key drivers for these fluctuations include the strength of the US Dollar, changes in US bond yields, and central bank gold purchases. A stronger dollar typically makes gold more expensive for holders of other currencies, impacting international demand. Additionally, investors are engaging in profit-booking after recent price surges.

In major Indian cities such as Delhi, Mumbai, and Kolkata, silver prices have seen variations, with some markets reporting rates around ₹2,59,900 per kilogram. Gold rates for 24-carat purity have fluctuated significantly, with some local markets seeing prices near ₹1,63,000 per 10 grams. The upcoming festive season is expected to influence domestic demand for jewelry, potentially impacting future price stability.