Gold prices fall across India on December 29 amid market uncertainty
Gold prices fell across India on Monday, December 29, despite last week’s steady gains. Experts note that gold remains a trusted safe-haven asset during market volatility, but today, prices dipped amid global economic uncertainty. Investors are closely watching international markets, which influenced local rates.
The purest form, 24-carat gold, widely used for investment, dropped to ₹14,171 per gram. Meanwhile, 22-carat gold, popular for jewellery, traded at ₹12,990 per gram. The 18-carat variant, also used in ornaments, showed a similar decline. Dealers reported increased demand for investment gold last week, which eased today as sellers adjusted rates.
Gold’s appeal as a hedge against inflation persists. A recent Goldman Sachs report stated that 70% of global institutional investors expect gold prices to rise further next year. Analysts attribute this outlook to concerns over global inflation, currency fluctuations, and ongoing geopolitical tensions.
Chennai, Mumbai, Delhi, Kolkata, and other major cities observed similar trends. Local jewellers confirmed that jewellery sales slowed slightly today, as buyers waited to see if rates would drop further. Some investors are taking advantage of small declines to add to their holdings.
Analysts advise tracking international gold markets for short-term trends. Spot gold prices overseas, currency exchange rates, and central bank policies continue to impact Indian gold rates. Traders also watch the US dollar index and global bond yields for signals on precious metal prices.
Experts suggest that while daily price changes occur, gold’s long-term investment value remains strong. They recommend a balanced approach, combining both jewellery and investment-grade gold, to benefit from potential gains and inflation protection.
In summary, gold prices in India slipped today despite a positive outlook from global investors. 24-carat gold trades at ₹14,171 per gram, 22-carat at ₹12,990, and 18-carat gold follows the same downward trend. Buyers and investors are advised to stay updated with daily rates and market news.
This drop marks a temporary correction in a market that has seen steady gains, reflecting both local demand patterns and global economic factors.
