On March 3, 2025, gold prices in India saw a slight drop, marking the fifth consecutive day of decline. This downward trend is largely driven by subdued local demand and prevailing global economic uncertainties.
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| @Image by Peggy und Marco Lachmann-Anke from Pixabay |
Gold Prices in Major Indian Cities
|
City |
22K
Gold (per 10g) |
24K
Gold (per 10g) |
|
Delhi |
₹79,540 |
₹86,760 |
|
Mumbai |
₹79,390 |
₹86,610 |
|
Chennai |
₹79,390 |
₹86,610 |
|
Bengaluru |
₹79,390 |
₹86,610 |
|
Kolkata |
₹79,390 |
₹86,610 |
|
Hyderabad |
₹79,390 |
₹86,610 |
|
Ahmedabad |
₹79,440 |
₹86,660 |
|
Pune |
₹79,390 |
₹86,610 |
|
Lucknow |
₹79,550 |
₹86,770 |
|
Indore |
₹79,440 |
₹86,660 |
Note: Prices are subject to slight variations based on local market conditions.
Key Factors Behind the Price Drop
- Global Economic Uncertainty: Concerns over a potential trade war and slowing global growth have dampened investor sentiment, leading to reduced demand for gold.
- US Dollar Strengthening: As the US dollar gains strength, gold becomes more expensive for international buyers, reducing its attractiveness and leading to a dip in demand.
- Domestic Market Conditions: In India, the world's second-largest consumer of gold, factors such as import duties, taxes, and currency fluctuations play a significant role in determining gold prices.
Silver Price Update
Alongside gold, silver prices also witnessed a decline. The price of silver decreased by ₹100 to ₹96,900 per kilogram on March 3, 2025.
Conclusion
The continuous decline in gold prices over the past week reflects the intricate interplay of global economic factors and local market dynamics. Investors and consumers are advised to stay informed and exercise caution, considering both international trends and domestic policies that influence gold rates.
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