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Gold prices in India continued their downward trend on April 23, reflecting weakness in global cues and rising uncertainty in international markets. Both gold and silver saw notable declines, offering some relief to buyers after recent highs.

Here’s a detailed look at today’s gold and silver rates across major cities and the key reasons behind the fall.

Gold Prices Fall Further in India

In Delhi, gold prices dropped again:

• 24 Carat Gold (10 grams): ₹1,54,890
• 22 Carat Gold (10 grams): ₹1,41,990

This comes after a sharp fall of around ₹300 in the previous session, indicating continued pressure on bullion prices.

Other Major Cities:

• Mumbai & Kolkata
  • 24K: ₹1,54,740
  • 22K: ₹1,41,840
• Chennai
  • 24K: ₹1,55,450
  • 22K: ₹1,42,490
• Bengaluru & Pune
  • 24K: ₹1,54,740
  • 22K: ₹1,41,840

Gold prices remain slightly higher in southern cities like Chennai compared to other regions.

Why Are Gold Prices Falling?

The decline in gold prices is largely linked to global developments:

• Uncertainty around ceasefire talks between the US and Iran
• Strength in the US dollar
• Support in crude oil prices

Statements and actions by Donald Trump regarding extending the ceasefire have not fully eased geopolitical tensions. The lack of progress in peace talks has strengthened the dollar, which typically puts pressure on gold prices.

Global Market Update

• Spot Gold: Around $4,742.97 per ounce
• Strong dollar → Lower demand for gold globally

When the dollar strengthens, gold becomes more expensive for international buyers, leading to reduced demand and price corrections.

Silver Prices Also Decline

Silver followed gold’s trend and slipped further:

• Silver Price (India): ₹2,64,900 per kg
• Previous session drop: Around ₹2,700

Global Silver:

• Spot Silver: Around $77.80 per ounce

The fall in silver mirrors the broader weakness in precious metals due to global market pressures.

City-Wise Gold Price Snapshot

What Should Buyers Do Now?

With prices easing slightly:

• Short-term buyers may find this a good entry point
• Long-term investors should monitor global trends closely
• Consider buying in phases instead of lump-sum investment

Final Takeaway

Gold and silver prices have softened again on April 23 due to global uncertainty and a stronger dollar. While the dip provides some relief, market volatility remains high.

Investors and buyers should stay cautious, track global developments, and make informed decisions based on their financial goals.