The prices of gold and silver saw a decline in early trading on Monday, as market conditions shifted in response to a reduction in geopolitical tensions in the Middle East. The price of 24-carat gold fell by Rs 10, with ten grams of the precious metal trading at Rs 81,100, according to the GoodReturns website. Similarly, the price of silver also experienced a downturn, decreasing by Rs 100, with one kilogram of silver now priced at Rs 96,400.
The price of 22-carat gold also saw a reduction of Rs 10, bringing the price of ten grams of this gold variant to Rs 74,340.
The price of ten grams of 24-carat gold in Mumbai aligns with prices in Kolkata, Chennai, and Hyderabad, where it is also trading at Rs 81,100. Meanwhile, in Delhi, the price of ten grams of 24-carat gold stood at Rs 81,250. For 22-carat gold, the price per ten grams in Mumbai, Kolkata, Bengaluru, Chennai, and Hyderabad is Rs 74,340, while in Delhi, it is slightly higher at Rs 74,490.
Regarding silver, the price for one kilogram of the metal in Delhi is consistent with prices in Bengaluru and Kolkata, where it is trading at Rs 96,400. However, in Chennai, silver is priced at Rs 1,03,900 per kilogram.
Global Gold Prices: Geopolitical Calm and Market Expectations Ahead of Trump’s Inauguration
On the international front, gold prices also experienced a dip as tensions in the Middle East eased, reducing safe-haven demand. This was further compounded by market participants awaiting clarity on the incoming Trump administration’s policies ahead of his January 20 inauguration.
Spot gold dropped by 0.4%, trading at $2,690.81 per ounce by 0140 GMT. Similarly, US gold futures declined by 0.5%, standing at $2,734.90.
Other precious metals also followed suit with spot silver down 0.7% at $30.13 per ounce, palladium losing 0.3% to $944.25, and platinum shedding 0.2% to $940.05.
Despite the short-term decline, many analysts believe that gold and other precious metals may continue to serve as safe-haven assets in the face of potential market volatility once Trump’s policies are clearer and the global geopolitical situation evolves.
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