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Gold prices slipped on Monday, extending their recent decline as global market sentiment remained under pressure. Despite the fall, prices hovered around ₹1.43 lakh across major Indian cities, with Chennai recording the highest rate among the metros.
Silver prices also remained above ₹2,190 per 10 grams, with Chennai topping the list.
Here is a look at the latest gold and silver prices across key cities in India.
The price of 24-karat gold in India stood at ₹1,43,401. Among major cities, Chennai recorded the highest price at ₹1,44,710.78, followed by Kolkata at ₹1,44,545.18.
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Gold was priced at Rs1,43,558.41 in Mumbai, ₹1,43,415.00 in Bengaluru and ₹1,43,401.00 in Delhi.
The national price of silver stood at ₹2,193.50 per 10 grams.
Among the cities listed, Chennai recorded the highest silver price at ₹2,213.74, followed by Kolkata at ₹2,209.43.
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Silver was priced at ₹2,195.69 in Mumbai, ₹2,193.50 in Delhi, and ₹2,191.89 in Bengaluru.
Among the cities covered, Chennai recorded the highest prices for both gold and silver. Bengaluru reported the lowest silver price, while Delhi’s gold price was in line with the national average.
Gold prices declined on Monday as rising tensions between the United States and Iran lifted crude oil prices, raising concerns about inflation and reducing the appeal of the precious metal. Expectations that the US Federal Reserve could continue with interest rate hikes also added pressure on gold, which does not generate interest income.
As of 0602 GMT, spot gold slipped 0.8% to $4,057.77 per ounce, while U.S. gold futures for August delivery fell 0.6% to $4,072.20. If the trend continues, gold will register its fourth straight monthly decline, with losses of about 10.5%.
Both Tehran and Washington agreed to suspend recent hostilities in the Gulf and resume discussions over their dispute involving the Strait of Hormuz, according to an Axios report published on Sunday.
(With inputs from Reuters)
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