Domestic Gold Rates Adjust Sharply Across Cities Amid Stronger Dollar And Profit Booking

Gold markets opened weak on April 27, with bullion prices sliding significantly from record highs. The decline comes amid global cues such as expectations of tighter U.S. monetary policy, easing safe-haven demand, and fluctuations in crude oil prices. Domestic traders also reported subdued retail demand, adding pressure on prices.

City-Wise Price Trends

In Delhi, 24K gold prices fell sharply, while Mumbai and Bengaluru recorded similar declines across purity levels. Chennai saw notable corrections in 22K and 18K gold rates, aligning with national averages. The fall has impacted both retail buyers and jewellers, with many postponing purchases in anticipation of further corrections.

Global And Domestic Drivers

Analysts attribute the crash to a stronger U.S. dollar, which makes gold more expensive for overseas buyers, and profit booking after recent highs. Domestically, muted wedding-season demand and cautious investor sentiment have amplified the decline. Despite the correction, gold remains a preferred long-term hedge against inflation and volatility.

Key highlights

• Gold prices crash ₹28,000 from peak levels
• 24K, 22K, 18K rates fall across major cities
• Delhi, Mumbai, Chennai, Bengaluru report steep declines
• Global cues, strong dollar, and profit booking drive correction
• Wedding-season demand remains muted, adding pressure

Sources: Reuters, Economic Times, Business Standard