Gold Prices Dip Before Akshaya Tritiya: 24K, 22K, 18K Rates Fall Across Major Cities, Silver Also Drops
Gold Prices Dip Before Akshaya Tritiya: 24K, 22K, 18K Rates Fall Across Major Cities, Silver Also Drops
24K, 22K and 18K rates soften in Delhi, Mumbai and Chennai ahead of festive buying rush
Gold prices saw a sharp correction just ahead of Akshaya Tritiya, bringing relief to jewellery buyers and investors planning purchases for the auspicious occasion.
After rising for three straight sessions, gold rates declined on Friday across major Indian cities. The fall comes just before Akshaya Tritiya, a festival traditionally associated with buying gold as a symbol of prosperity and good fortune.
According to market updates, 24-carat gold in Delhi was priced around ₹1,54,340 per 10 grams. In Mumbai, Kolkata, Pune and Bengaluru, the rate stood near ₹1,54,190 per 10 grams. Chennai recorded slightly higher prices at around ₹1,55,010 per 10 grams.
For 22-carat gold, prices were around ₹1,41,490 per 10 grams in Delhi and ₹1,41,340 in Mumbai and Kolkata. Meanwhile, 18-carat gold was trading near ₹1,15,755 in Delhi and ₹1,15,642 in Mumbai and Kolkata.
The correction follows a notable one-day fall in the bullion market, where prices reportedly dropped by nearly ₹1,600 in Delhi during the previous session.
Silver prices also moved lower. Rates were reported near ₹2,64,900 per kilogram after a sharp decline of around ₹5,700.
Experts say domestic gold prices softened mainly due to a stronger Indian rupee and easing geopolitical tensions globally. Since gold is imported and priced internationally in dollars, a stronger rupee often makes it cheaper in India. Reduced safe-haven demand in global markets also added pressure on prices.
The decline may encourage festive buyers who were waiting for a better entry point. Akshaya Tritiya is considered one of the most important days for buying gold, and jewellers typically witness strong footfall during the period.
However, analysts caution that bullion prices can remain volatile depending on currency movement, international market trends and geopolitical developments. Buyers are advised to compare making charges, purity certification and buy according to budget rather than chasing daily fluctuations.
For consumers planning purchases this weekend, the current dip may offer a timely opportunity before fresh festive demand impacts prices again.
Disclaimer: Gold and silver prices change frequently by city, jeweller, taxes and market conditions. Please verify live rates before making any purchase or investment decision.
