Gold Prices Dip in Domestic Futures Market, Silver Also Falls Amid Global Trends

New Delhi: Gold prices in the domestic futures market declined on Wednesday, April 23, 2025, following a sharp surge the previous day when prices had surpassed Rs 1 lakh per 10 grams. This increase was in line with global trends, where gold prices exceeded $3500 per ounce. The spike was driven by concerns over US President Donald Trump’s criticism of the Federal Reserve Chair, which dampened risk sentiment, prompting investors to seek safety in assets like gold, alongside anticipation of heightened demand during Akshaya Tritiya.

The June 5 contract for gold on the Multi Commodity Exchange (MCX) opened with a drop of Rs 840, trading at Rs 96,500 per 10 grams, and continued to dip further, reaching a low of Rs 95,457. At the time of reporting, it was trading at Rs 95,998, marking a loss of Rs 1,342 or 1.38% from the previous close.

Silver futures, also maturing on May 5, 2025, mirrored this decline. The contract opened at Rs 95,451 per kg on the MCX, down by Rs 450 from its previous close of Rs 95,879. It was last trading at Rs 95,711, a drop of Rs 168 or 0.18%. During the session, it fluctuated between a low of Rs 95,425 and a high of Rs 95,727.

Gold Prices in the International Market

In the global market, COMEX gold was trading around $3,354.4 per troy ounce, while spot gold was quoted at approximately $3,344.91 per ounce at 10:30 am.

Gold and Silver Prices in Major Indian Cities

• Delhi:
  24-carat gold: Rs 98,500 per 10 grams
  22-carat gold: Rs 90,300 per 10 grams
  Silver: Rs 1,01,000 per kg
• Mumbai:
  24-carat gold: Rs 98,350 per 10 grams
  22-carat gold: Rs 90,150 per 10 grams
  Silver: Rs 1,01,000 per kg
• Kolkata:
  24-carat gold: Rs 98,350 per 10 grams
  22-carat gold: Rs 90,150 per 10 grams
  Silver: Rs 1,01,000 per kg
• Chennai:
  24-carat gold: Rs 98,350 per 10 grams
  22-carat gold: Rs 90,150 per 10 grams
  Silver: Rs 1,11,000 per kg

The decline in gold and silver prices in the domestic market follows the global trend, though the market remains volatile amid geopolitical tensions and changes in investor sentiment.