Domestic gold prices fell by ₹1,550 to ₹91,450 per 10 gram (24 carat, 99% purity) in the national capital on Monday, falling for the second consecutive session amid continued selling by jewellers and investors amid weak global trends, All India Sarafa Association reported.
Gold of 99.5% purity (22 carat) closed at ₹91,000 per 10 gram on Monday, April 7. On Friday, gold prices closed at ₹93,000 per 10 gram (24 carat) and ₹92,550 (22 carat).
Silver prices also declined on Monday, continuing its decline for the fifth consecutive session, falling by Rs 3,000 to Rs 92,500 per kg. Silver prices closed at Rs 95,500 per kg on Friday. Silver prices have fallen by up to Rs 10,500 per kg in the last five trading sessions.
Globally, spot gold fell by $10.16 (0.33%) to $3,027.20 an ounce, while spot silver rose 1.65% to $30.04 an ounce in the Asian market. According to experts, investors remain cautious as more clarity is needed about the US tariff situation amid rising global trade tensions. Also, the upcoming US Consumer Price Index (CPI) data is expected to play a role in interest rate cut expectations, which, in turn, could influence gold’s movement going forward. Overall, gold prices have been on an upward trajectory this year.
The yellow metal recorded its all-time high of ₹94,350 per 10 gram on Thursday, April 3, which is nearly ₹15,000 per 10 gram higher than gold prices earlier this year. Amid US President Donald Trump imposing reciprocal tariffs on all its 60 trading partners last week, global dynamics are tense and the direction of gold in the coming days is yet to be determined.
