Gold and silver prices across India witnessed an upward trend on Monday following Prime Minister Narendra Modi’s appeal urging citizens to avoid unnecessary gold purchases and postpone foreign travel for the next year in order to conserve foreign exchange reserves amid the ongoing Middle East crisis.
Market analysts stated that precious metals are expected to remain range-bound in the near term as investors continue to monitor developments surrounding US-Iran peace negotiations and global economic indicators.
According to bullion market data, gold prices in India were trading around ₹1,53,150 per 10 grams, while silver prices stood near ₹2,62,370 per kilogram. In the international market, spot gold prices slipped slightly, while silver also recorded marginal declines during early Asian trading hours.
Gold Prices in Major Indian Cities
Among major metro cities, Chennai recorded the highest gold price at approximately ₹1,53,320 per 10 grams. Hyderabad and Bengaluru followed closely with rates around ₹1,53,110 and ₹1,52,990 respectively.
In Mumbai, 24-carat gold was trading near ₹1,52,870 per 10 grams, while Kolkata reported prices around ₹1,52,670. In the national capital Delhi, gold prices were slightly lower at approximately ₹1,52,610 per 10 grams.
Silver Prices Across Cities
Silver prices also remained elevated across major Indian markets. Chennai reported silver prices near ₹2,62,660 per kilogram, followed by Hyderabad at ₹2,62,310 and Bengaluru at ₹2,62,100.
Mumbai recorded silver prices around ₹2,61,900 per kilogram, while Delhi and Kolkata were trading near ₹2,61,440 and ₹2,61,550 respectively.
Market Outlook
Experts believe uncertainty in global markets and geopolitical tensions in the Middle East are influencing investor sentiment toward safe-haven assets such as gold and silver. At the same time, the Prime Minister’s remarks regarding reduced discretionary spending have also added to market volatility in the jewellery sector.
Traders are now closely watching global commodity trends, crude oil movements, and international diplomatic developments for further direction in precious metal prices.
Originally published on 24×7-news.com.
