Gold prices in India slipped on Friday, falling by around 0.64% for both 24-karat and 22-karat gold. The price of 24-karat gold dropped by ₹924 to ₹1,42,469 per 10 grams, while 22-karat gold became cheaper by ₹846.39 to ₹1,30,501.60 per 10 grams.
The decline comes amid rising crude oil prices, with Brent climbing above $113 per barrel following Houthi attacks in Saudi Arabia that heightened concerns over global energy supplies.
Gold rate today
The price of 24-karat gold fell by ₹924, or approximately 0.64%, on Friday compared with Thursday. As of 12:40 pm, the rate stood at ₹1,42,469 per 10 grams.
The price of 22-karat gold declined by ₹846.39, also marking a decrease of approximately 0.64% over the same period.
Both categories recorded a similar percentage decline compared with the previous day.
Also read: More Oil Is Now Coming Out of the Persian Gulf Than Before the Iran War
City-wise gold rates today
Gold prices varied across major Indian cities on Friday. Chennai recorded the highest listed prices for both 24-karat and 22-karat gold among the cities listed, while Bengaluru and Delhi reported lower rates.
– Delhi: 24-karat ₹1,42,509.00; 22-karat ₹1,30,538.24
– Bengaluru: 24-karat ₹1,42,500.00; 22-karat ₹1,30,530.00
– Chennai: 24-karat ₹1,43,815.80; 22-karat ₹1,31,735.27
– Hyderabad: 24-karat ₹1,42,807.04; 22-karat ₹1,30,811.25
– Mumbai: 24-karat ₹1,42,643.50; 22-karat ₹1,30,661.45
– Kolkata: 24-karat ₹1,43,642.02; 22-karat ₹1,31,576.09
Among the listed cities, Chennai’s 24-karat gold rate stood at ₹1,43,815.80 per 10 grams, while its 22-karat rate was ₹1,31,735.27. Kolkata followed, with 24-karat gold priced at ₹1,43,642.02 and 22-karat gold at ₹1,31,576.09.
Bengaluru recorded a 24-karat gold rate of ₹1,42,500 and a 22-karat rate of ₹1,30,530 per 10 grams. In Delhi, the corresponding rates were ₹1,42,509 and ₹1,30,538.24.
Also read: Sensex falls over 600 points as Middle East war keeps oil above $110; inflation worries mount
Why are gold prices falling?
Gold prices are influenced by international market trends, fluctuations in the US dollar and changes in investor demand. On Friday, domestic prices of both 24-karat and 22-karat gold fell by approximately 0.64% compared with the previous day.
Meanwhile, Brent crude oil prices rose 0.62% to $113.87 per barrel following Houthi attacks in Saudi Arabia, which raised concerns about potential disruptions to global energy supplies. Higher oil prices can fuel inflation concerns and affect financial markets, while currency movements and changes in investor sentiment can also influence gold prices.
The Indian rupee weakened to ₹94.96 against the US dollar on Friday, compared with ₹94.8175 previously, as rising crude oil prices and concerns about global market risks weighed on the currency.
Gold and crude oil prices moved in opposite directions on Friday.
(With inputs from agencies)