Gold and silver prices fell on April 24 as macroeconomic headwinds continued to weigh on precious metals demand in India. A stronger US dollar and elevated crude oil prices reduced appetite for the yellow metal among investors and jewellers.
Regional price variations remained significant across major Indian cities. Chennai recorded the highest gold rates at Rs 1,52,660 per 10 grams, reflecting localized demand patterns and import costs. Mumbai, Delhi, Kolkata, and Bangalore reported lower rates, though exact figures varied based on purity and local market conditions.
The broader weakness in gold reflects global market dynamics. International bullion markets remained under pressure as the strengthening US dollar made gold costlier for foreign buyers. Simultaneously, rising crude oil prices added to inflationary pressures, prompting investors to reassess allocations to safe-haven assets.
Silver, traditionally more volatile than gold, also experienced downward pressure amid similar market conditions. Jewellers and traders across Indian metros reported softer retail demand despite favourable seasonal factors.
Investors monitoring precious metals exposure should track global dollar movements and crude oil trends closely, as both remain critical price drivers. The Reserve Bank’s monetary policy stance and rupee strength will also influence domestic gold and silver valuations in coming sessions.
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