Clickhind: Gold prices remained largely stable on Sunday after witnessing a consistent decline throughout the past week, as investors liquidated bullion positions to offset losses in other asset classes amid rising geopolitical tensions between Israel and Iran. The yellow metal is currently trading near its one-week low and is on track for its first weekly decline in three weeks.
In Mumbai, gold was priced at ₹92,350 per 10 grams for 22-carat and ₹1,00,750 per 10 grams for 24-carat on Sunday. Prices of both gold and silver had initially surged at the onset of the Israel-Iran conflict due to heightened safe-haven demand. However, since then, prices have stabilized and shown limited movement. Market experts now suggest that gold may have peaked, with a potential correction of 10–12% anticipated over the next couple of months, depending on market dynamics.
What Influences Gold Prices in India?
Gold prices in India are largely influenced by global market rates, import duties, local taxation, and currency exchange rate fluctuations, especially the strength of the Indian Rupee against the US Dollar. These combined factors impact the daily retail pricing of gold across different regions in India.
In Indian culture, gold holds both emotional and financial significance, playing a central role in weddings, festivals, and long-term investment planning. Given the metal’s dual nature as a cultural symbol and an investment hedge, traders and consumers closely track price movements. Staying informed about global trends, geopolitical developments, and policy changes is key to making sound investment decisions in the volatile bullion market.
