-Gold Becomes Cheaper by Up to ₹2,020 on Weekly Basis Amid Broad-Based Correction

NEW DELHI, May 31 (H.S.): After witnessing a brief uptick a day earlier, the domestic bullion market once again came under selling pressure on Saturday, leading to a decline in gold prices across most parts of the country. Except for Chennai, gold prices fell in nearly all major bullion markets, while silver also registered a marginal decline.

Due to the latest correction, gold prices dropped by between ₹560 and ₹610 per 10 grams in most markets across the country. In contrast, Chennai bucked the nationwide trend, recording an increase of between ₹290 and ₹310 per 10 grams. Silver prices also witnessed a symbolic decline of up to ₹100 per kilogram.

Following the decline, 24-carat gold was trading between ₹157,040 and ₹159,600 per 10 grams across domestic bullion markets. Similarly, 22-carat gold was being sold in the range of ₹143,950 to ₹146,300 per 10 grams. Silver, after a modest decline, was trading at ₹280,000 per kilogram in the Delhi bullion market.

On a weekly basis, both gold and silver ended the week lower. During the past week, the price of 24-carat gold declined by as much as ₹2,020 per 10 grams, while 22-carat gold recorded a weekly fall of up to ₹1,850 per 10 grams.

Despite fluctuations during the week, silver also closed lower, with prices declining by up to ₹5,000 per kilogram on a weekly basis.

In the national capital, Delhi, 24-carat gold was trading at ₹157,190 per 10 grams, while 22-carat gold was priced at ₹144,100 per 10 grams.

In Mumbai, the country’s financial capital, 24-carat gold was selling at ₹157,040 per 10 grams, while 22-carat gold was priced at ₹143,950 per 10 grams.

Similarly, in Ahmedabad, the retail price of 24-carat gold stood at ₹157,090 per 10 grams, while 22-carat gold was trading at ₹144,000 per 10 grams.

Among other major cities, Chennai recorded the highest rates, with 24-carat gold trading at ₹159,600 per 10 grams and 22-carat gold at ₹146,300 per 10 grams.

In Kolkata, 24-carat gold was available at ₹157,040 per 10 grams, while 22-carat gold was trading at ₹143,950 per 10 grams.

In Bhopal, 24-carat gold was priced at ₹157,090 per 10 grams and 22-carat gold at ₹144,000 per 10 grams.

In Jaipur, 24-carat gold was trading at ₹157,190 per 10 grams, while 22-carat gold was available at ₹144,100 per 10 grams.

Patna recorded prices of ₹157,090 per 10 grams for 24-carat gold and ₹144,000 per 10 grams for 22-carat gold.

Likewise, in Lucknow, 24-carat gold was trading at ₹157,190 per 10 grams, while 22-carat gold was priced at ₹144,100 per 10 grams.

The bearish trend in gold prices was also visible in southern and eastern markets. In Bengaluru, Hyderabad, and Bhubaneswar, 24-carat gold was trading at ₹157,040 per 10 grams, while 22-carat gold was available at ₹143,950 per 10 grams in all three cities.

Market observers noted that the decline in precious metal prices reflects ongoing fluctuations in global bullion markets and investor sentiment, with both gold and silver ending the week on a weaker note despite intermittent gains during trading sessions.

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Hindusthan Samachar / Jun Sarkar