Gold price today: Yellow metal fell Rs 1,400 in previous session
Gold prices have recorded a steep decline in the domestic market, with the price of 99.9% purity gold falling by Rs 1,400 to Rs 1,49,250 per 10 grams from the previous session. Silver also moved lower, shedding Rs 200 to Rs 2,39,800 per kilogram on Tuesday. Analysts attributed the decline to a combination of a stronger rupee and weakness in global bullion markets. A stronger domestic currency makes imported gold cheaper, thereby reducing local bullion prices.
The fall also reflected cautious investor sentiment ahead of key global events that were expected to influence precious metal prices. The decline in both gold and silver highlighted how currency movements can significantly impact domestic bullion even when international fundamentals remain mixed.