New Delhi, June 29: Gold prices witnessed a modest decline across major Indian cities on Monday, offering relief to jewellery buyers and investors. The fall in both 22-carat and 24-carat gold prices comes amid easing international bullion prices and fluctuations in the US dollar, according to market analysts.
Jewellers said the decline has encouraged retail buyers, particularly those planning purchases ahead of the upcoming festive and wedding seasons.
Gold Rates Decline Across Major Cities
According to market data, the prices of both 22K and 24K gold fell marginally in key markets, including Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, and Kolkata.
While the exact rates varied slightly by city due to local taxes and making charges, the overall trend remained lower compared to the previous trading session.
Global Market Influences Domestic Prices
Analysts attributed the decline in domestic gold prices to softer international bullion rates, movements in the US dollar, and changing expectations regarding global interest rates.
International investors also remained focused on upcoming economic data and central bank policy signals, which continue to influence precious metal prices worldwide.
Retail Demand Expected to Improve
Jewellery retailers believe the price correction could boost consumer demand in the coming weeks, especially among customers planning weddings and festive purchases.
Industry experts noted that lower prices often encourage buying activity, particularly in India, one of the world’s largest consumers of gold.
Investors Remain Cautious
Despite the fall in prices, financial experts advised investors to monitor global economic developments, inflation trends, and geopolitical events, as these factors can significantly impact gold prices.
They added that gold continues to remain an important long-term investment and portfolio diversification asset despite short-term fluctuations.
Market Outlook
Traders expect gold prices to remain volatile in the near term as global markets await fresh economic indicators and policy decisions from major central banks.
Domestic bullion markets are also expected to track international price movements and currency fluctuations over the coming days.
Source: India Bullion and Jewellers Association (IBJA), Multi Commodity Exchange (MCX)
Original Report:
https://ibjarates.com/
Supreme News Network
