Gold, Silver Prices Dip After Trading Higher— Check Prices In Mumbai, Chennai, Other Cities

Gold Prices Today: India is the world’s second-largest gold consumer, following China. Most of the country's gold demand is met through imports, with recycled gold contributing only a small fraction. Since gold is traded globally in US dollars, changes in the exchange rate significantly impact its price in the Indian market.

However, global trends aren’t the only factors influencing gold prices in India. Domestic elements such as import duties, the Goods and Services Tax (GST), and various state-level charges also play a key role in shaping the final retail price for consumers. Gold continues to hold strong appeal as a safe-haven asset, particularly during times of elevated inflation or financial uncertainty.

However, its price is also influenced by broader global economic factors. Movements in global bond yields, changes in monetary policy, and key macroeconomic indicators all play a significant role in shaping gold’s value on both international and domestic fronts.