Daijiworld Media Network - New Delhi

New Delhi, Mar 23: Gold prices in India declined on Monday despite geopolitical tensions arising from the US-Iran conflict, with analysts attributing the fall to a margin call environment forcing investors to sell gold to offset losses in equities.

In the national capital Delhi, 22-carat gold was priced at Rs 1,25,467.27 per 10 grams, while silver stood at Rs 2,300 per 10 grams.

In Mumbai, gold rates were Rs 1,25,592.74 per 10 grams and silver at Rs 2,300 per 10 grams.

Chennai recorded higher gold prices at Rs 1,26,596.47 per 10 grams, with silver at Rs 2,350 per 10 grams.

In Kolkata, gold stood at Rs 1,26,471.01 per 10 grams, while silver was Rs 2,300 per 10 grams.

In southern markets, Bengaluru and Hyderabad both recorded gold prices at Rs 1,28,350 per 10 grams, with silver at Rs 2,300 per 10 grams.

Globally, gold prices slipped over 2 percent on Monday, extending losses to a nearly four-month low. Spot gold fell around 2.5 percent, while the metal has declined more than 10 percent over the past week.

Analysts said the sharp fall was driven by investors liquidating profitable gold positions to cover equity market losses. However, they expect prices to stabilise with a mild recovery in the coming days, though gains may remain limited due to high interest rates and a strong US dollar.

Experts indicated that gold may see a phase of consolidation before determining its next directional move.