In a mild correction this weekend, gold prices slipped by ₹10 while silver also saw a ₹100 decline across key Indian markets. According to market data from GoodReturns, ten grams of 24-carat gold now trade at ₹1,22,010, while the 22-carat variant sells for ₹1,11,840.

Silver, meanwhile, dropped by ₹100 per kilogram, bringing its latest price to ₹1,52,400 per kg in Delhi, Mumbai, and Kolkata.

City-wise Gold Price Update

• Delhi: ₹1,22,160 (24K) | ₹1,11,990 (22K)

• Mumbai: ₹1,22,010 (24K) | ₹1,11,840 (22K)

• Kolkata: ₹1,22,010 (24K) | ₹1,11,840 (22K)

• Chennai: ₹1,22,940 (24K) | ₹1,12,690 (22K)

Despite minor fluctuations, traders note that demand remains firm ahead of the wedding and festive season. Analysts suggest that the price drop could encourage small investors to increase short-term gold purchases.

Global Market Snapshot

In the international market, spot gold rose 0.7% to $4,005.21 per ounce, supported by a weaker U.S. dollar and renewed safe-haven buying amid uncertainty surrounding the U.S. government budget talks.
U.S. gold futures for December delivery also gained 0.5%, settling around $4,009.80 per ounce, while silver climbed nearly 0.9% to $48.41 per ounce.

Market Outlook

Experts predict that gold prices may remain volatile as global investors weigh inflation data, central bank cues, and dollar movements. However, the long-term sentiment for gold continues to stay bullish due to its safe-haven appeal during economic uncertainty.

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🔗 External Reference

For detailed market insights and live gold rate updates, visit the Moneycontrol Commodities Section.