Gold prices in India retreated across all major metropolitan markets on Tuesday, marking a continuation of the downward trend that has gripped the domestic precious metals sector.
The decline affected both 22-carat and 24-carat variants, with rates dropping in key hubs including Mumbai, Delhi, Chennai, Bengaluru, Hyderabad, Kolkata, and Ahmedabad.
The domestic pullback is being driven by a dual headwind: a broader global softening in precious metals prices and a strengthening Indian rupee.
A surge in dollar inflows has bolstered the local currency, reducing the rupee-denominated cost of imported gold and compounding the losses seen in international markets.
This dynamic has placed renewed downward pressure on local rates, offering a brief respite to consumers after a period of volatility.
The move follows a similar correction earlier in the month, when gold jewellery prices at major retailers such as Tanishq, Malabar Gold & Diamonds, and Kalyan Jewellers fell, providing temporary relief to buyers.