In a major relief for gold buyers and investors, gold prices have witnessed a notable decline across India following a key trade agreement between the United States and China. The dip in prices has sparked renewed interest in gold purchases, especially ahead of the festive and wedding seasons.
Gold rates have softened for both 24-carat and 22-carat varieties, offering a welcome break for those who had been postponing their purchases due to the previously soaring prices.
Market Reaction: Shoppers and Investors Cheer
From wedding shoppers to long-term investors, the price drop has been welcomed across the board. Markets in major cities have reported increased footfall in jewellery stores, with many buyers taking advantage of the current dip.
City-Wise Gold Rates (Per Gram)
Delhi: Capital Sees a Dip
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24-Carat Gold: ₹9,407
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22-Carat Gold: ₹8,609
Jewellery shop owners in Delhi reported a rise in customer enquiries as the new rates brought some relief to budget-conscious buyers.
Mumbai: Gold Gets Cheaper in the Financial Hub
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24-Carat Gold: ₹9,392
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22-Carat Gold: ₹8,609
The decline in prices has led to increased activity in Mumbai’s retail jewellery sector, particularly in Zaveri Bazaar.
Ahmedabad: Good News for Gujarat’s Traders
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24-Carat Gold: ₹9,397
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22-Carat Gold: ₹8,609
Known for its strong bullion trade, Ahmedabad too reflected the downward trend, much to the delight of local investors.
Chennai: South India Sees Price Relief
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24-Carat Gold: ₹9,397
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22-Carat Gold: ₹8,609
The southern markets have responded positively, with Chennai jewellers reporting a surge in wedding-related purchases.
Kolkata: Festival Season to Benefit
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24-Carat Gold: ₹9,397
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22-Carat Gold: ₹8,609
The fall in gold prices is expected to boost sales ahead of Durga Puja, a key festival in Eastern India.
Hyderabad: Demand Likely to Pick Up
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24-Carat Gold: ₹9,397
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22-Carat Gold: ₹8,609
Jewellers in Hyderabad are optimistic that the trend will encourage advance purchases for upcoming celebrations.
Bengaluru: Buyers Reconsider Gold
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24-Carat Gold: ₹9,397
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22-Carat Gold: ₹8,609
With IT professionals often investing in gold as a safe asset, the city’s demand is likely to grow.
Pune: Positive Signs for the Jewellery Market
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24-Carat Gold: ₹9,397
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22-Carat Gold: ₹8,609
Local jewellers in Pune anticipate a rise in gold sales as consumers return to the market with confidence.
Global Impact Reflects Locally
Experts attribute the decline in gold prices to easing tensions between major global economies, particularly the recent trade settlement between the US and China. As global uncertainty reduces, gold—often seen as a safe-haven investment—tends to correct in price.
