Gold prices ease as dollar strengthens; Mumbai markets watch rates
Gold prices ease as dollar strengthens; Mumbai markets watch rates
Gold slips on profit-booking and a firmer dollar, with 24K, 22K and 18K rates listed for major Indian cities as April futures hover around Rs 1.57 lakh per 10 grams.
Gold prices took a step back on Tuesday in domestic markets as traders booked profits and a stronger U.S. dollar continued to weigh on bullion. The April futures contract slipped to around Rs 1.57 lakh per 10 grams, reflecting a pullback after recent rallies.
Analysts say the yellow metal remains sensitive to the dollar's movements and to global risk appetite. While spot prices have eased from recent peaks, demand in households and wedding seasons keeps physical buying intact in many cities.
In India, the price per gram for 24K, 22K and 18K gold is listed for major cities, with some variation from Delhi to Mumbai. Market watchers say price differences arise from local taxes, regional demand, and jeweller margins, even as the national trend points to a softer tone for bullion in the near term.
Globally, silver also cooled, while the dollar firmed, keeping pressure on precious metals. Traders noted that the dollar's strength has been a key driver behind bullion moves, and sentiment will hinge on upcoming inflation data and central bank commentary.
For investors, the question remains whether this dip marks a temporary pause or the start of a more extended correction. As always, prices vary by city and format (24K, 22K, 18K), so shoppers are advised to check current local quotes before making purchases.
