Gold prices edged lower in the domestic market on Monday, tracking weakness in global bullion rates amid rising geopolitical tensions in West Asia, elevated crude oil prices, and persistent concerns over inflation and interest rates. 

According to market data compiled by GoodReturns, the price of 24-carat gold fell by ₹10 to ₹1,56,920 per 10 grams in early trade while 22-carat gold slipped by the same margin to ₹1,43,840 per 10 grams. Silver prices also eased, with the metal falling ₹100 to ₹2,79,900 per kilogram. 

What is the gold price in Delhi and Mumbai today? 

In Delhi, 24-carat gold was priced at ₹1,57,070 per 10 grams while 22-carat gold stood at ₹1,43,990. In Mumbai, Kolkata, Bengaluru and Hyderabad, 22-carat gold was quoted at ₹1,43,840 per 10 grams. Chennai continued to trade at higher levels, with 24-carat gold at ₹1,60,900 and 22-carat gold at ₹1,47,490 per 10 grams. 

Silver prices today 

Silver prices in Delhi, Mumbai and Kolkata remained at ₹2,79,900 per kilogram while Chennai recorded higher prices at ₹2,89,900 per kilogram. 

Global bullion markets also remained under pressure. Spot gold fell 1.1% to $4,488.99 per ounce in early trade, touching its weakest level since March 30, while US gold futures for June delivery declined 1.5% to $4,493.30 per ounce. 

Market sentiment weakened after renewed tensions in West Asia pushed crude oil prices higher, fuelling inflation concerns and strengthening expectations that the US Federal Reserve may keep interest rates elevated for longer. Higher interest rates generally reduce the appeal of non-yielding assets such as gold. 

Spot silver dropped 2.2% to $74.30 per ounce, while platinum and palladium also traded lower. 

JP Morgan lowered its average gold price forecast 

Meanwhile, investment banks have started trimming their near-term outlook for the precious metal. JP Morgan lowered its average gold price forecast for 2026 to $5,243 per ounce from $5,708 earlier, citing weaker investor participation and subdued trading activity. 

“This quietness shows through stagnant activity and demand metrics. COMEX aggregate gold futures open interest and volume have remained depressed, net Managed Money futures open interest has stagnated at low levels and ETF flows have been light,” analysts at the bank said in a note. 

Despite the downgrade, the bank maintained a positive long-term outlook for bullion prices. “We retain our bullish medium-term outlook and forecast that after the immense energy and inflation uncertainty clears, gold demand from investors and central banks will again re-intensify over 2H26,” it added.