North India Statesman
Gold rates witnessed a slight downward revision across major Indian bullion markets on Tuesday, October 6, offering brief respite to retail buyers ahead of peak festive demand. The yellow metal recorded modest dips in key trading hubs, influenced by shifting international spot cues, fluctuating US Treasury yields, and localized currency adjustments. Retail 24-carat gold hovered around ₹1,49,000 per 10 grams, while standard 22-carat jewellery-grade gold traded near the ₹1,36,600 mark.
City-Wise Breakdown: Delhi, Mumbai, Chennai, and Kolkata
Retail bullion rates differ across Indian states due to varying local transport levies, municipal entry duties, and state-level VAT structures:
-
Delhi: The national capital logged 24-carat gold at approximately ₹1,48,850 to ₹1,49,170 per 10 grams, with 22-carat gold trading around ₹1,36,450 to ₹1,36,750 per 10 grams.
-
Mumbai: Financial hub Mumbai recorded 24-carat gold around ₹1,49,020 to ₹1,49,100 per 10 grams, while 22-carat gold hovered at ₹1,36,600 to ₹1,36,675 per 10 grams.
-
Chennai: In the southern hub, higher regional demand kept 24-carat gold trading slightly higher around ₹1,49,540 per 10 grams, with 22-carat gold quoted near ₹1,37,080 per 10 grams.
-
Kolkata & Bengaluru: Eastern and southern distribution centers mirrored western markets closely, holding 24-carat rates around ₹1,48,900 to ₹1,49,020 per 10 grams and 22-carat rates at ₹1,36,490 to ₹1,36,600 per 10 grams.
Factors Fueling the Minor Price Correction
Market analysts attribute the day’s softening to mild profit-taking by institutional investors on the Multi Commodity Exchange (MCX) following recent multi-session gains. In the global market, a firm US dollar index and anticipatory positioning ahead of upcoming central bank interest-rate commentary curbed aggressive buying in precious metals. Simultaneously, industrial silver held relatively steady, trading near ₹2,25,000 to ₹2,35,000 per kilogram across major urban distribution centers.
Festive Season Consumer Outlook
Despite localized corrections, domestic consumer appetite is anticipated to gain strong momentum over the coming weeks as Navratri and Dhanteras purchasing plans materialize. Major retail jewellers note that while top-line rates remain elevated year-on-year, minor single-day dips regularly prompt consumers to lock in advance booking schemes and exchange older ornaments for hallmarked sovereign jewellery.
