In Mumbai, gold prices edged lower. The price of 24-carat gold fell to Rs. 12,148 per gram from Rs. 12,246 a day earlier, while 10 grams traded at Rs. 1,21,480 compared to yesterday’s Rs. 1,22,460.
Similarly, 22-carat gold slipped to Rs. 11,135 per gram from Rs. 11,225, with the 10-gram price easing to Rs. 1,11,350 from Rs. 1,12,250.
In Chennai, gold prices also decreased. The price of 24-carat gold declined to Rs. 12,197 per gram from Rs. 12,273 the previous day, while 10 grams fell to Rs. 1,21,970 from Rs. 1,22,730.
22-carat gold also decreased to Rs. 11,180 per gram from Rs. 11,250, and for 10 grams the price declined to Rs. 1,11,800 to Rs. 1,12,500.
The decline follows several weeks of strong gains, prompting expectations of further consolidation in the near term.
Despite the short-term volatility, gold prices in India remain significantly higher year-to-date. Since January 2025, the precious metal has rallied nearly 60%.