Ziraat Times Team Report
New Delhi, Feb 2: Gold prices in India continued their downward trend on Monday, registering a steep fall across categories. The decline comes amid easing global bullion rates and reduced domestic demand.
The price of 24-carat gold fell sharply by ₹9,050 per 10 grams to ₹1,51,530 on February 2. On Sunday, the same quantity was priced at ₹1,60,580, reflecting a significant day-on-day correction.
Similarly, 22-carat gold also witnessed a notable decline. The price of 10 grams of 22-carat gold dropped by ₹8,300 to ₹1,38,900, compared to ₹1,47,200 recorded a day earlier.
Market analysts attribute the fall to a combination of factors, including a stronger rupee, profit booking by investors, and softer trends in the international gold market. Jewellers also reported subdued buying interest as consumers adopt a wait-and-watch approach in anticipation of further price corrections.
Despite the current dip, experts maintain that gold remains a preferred long-term hedge against inflation and global economic uncertainties.
