Gold prices in India witnessed a sharp decline on Monday, with 24-karat gold slipping below the ₹1.37 lakh mark per 10 grams in major cities. The fall comes amid global economic uncertainty, a strengthening US dollar, and easing geopolitical risk sentiment.
Gold and Silver Prices Decline Across India
On April 6, gold and silver prices moved lower across domestic markets. In Mumbai, 24K gold was priced at ₹1,36,700 per 10 grams, while 22K gold stood at ₹1,11,850 per 10 grams. These rates exclude GST and making charges.
Silver prices also remained under pressure, with the metal trading at approximately ₹1,50,000 per kilogram across major markets.
MCX Trends Reflect Weakness
On the Multi Commodity Exchange (MCX), gold was trading lower by around 0.31% at ₹1,49,217 per 10 grams, while silver declined 0.54% to ₹2,31,233 per kilogram in morning trade.
City-Wise Gold Rates (April 6)
- Delhi, Jaipur: 22K – ₹1,12,000 | 24K – ₹1,36,850
- Ahmedabad, Pune: 22K – ₹1,11,900 | 24K – ₹1,36,750
- Mumbai, Hyderabad, Chennai, Bengaluru, Kolkata: 22K – ₹1,11,850 | 24K – ₹1,36,700
Global Factors Driving Prices
Gold prices have come under sustained pressure due to:
- Strengthening US dollar
- Easing safe-haven demand
- Ongoing geopolitical developments and ceasefire negotiations in global conflict zones
Analysts note that gold has fallen more than 14% this month, marking its steepest monthly decline since October 2008.
Outlook
Market experts suggest that gold prices will continue to remain sensitive to global macroeconomic cues, including dollar movement, interest rate expectations, and geopolitical developments.