Gold eased on December 2, with both 22-carat and 24-carat rates slipping across major Indian cities. The move was visible in local market quotes and reflected a softer tone compared with recent trading days.
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Market snapshot
Prices for jewellery-grade (22-carat) and investment-grade (24-carat) gold fell across the board. Retail rates in several urban centres showed downward adjustments as sellers and buyers reacted to the latest market cues.
Why prices slipped
- Global sentiment: International bullion trends often influence domestic rates; a milder global gold market can prompt local declines.
- Currency effects: Movements in the rupee versus the dollar can change the local cost of imported gold and feed into price changes.
- Demand and supply: Periodic softening in consumer demand or higher spot availability may push dealers to lower retail quotes.
- Short-term trading: Profit-booking and short-term repositioning by traders can accentuate intraday or daily drops.
What it means for buyers and investors
- Buyers: A dip can be a window to buy, but compare net outflow prices after making charges and taxes rather than just the per-gram rate.
- Investors: For long-term investors, small daily movements are less critical than overall trend and portfolio goals.
- Shoppers: Negotiate making charges and verify purity—especially important when choosing between 22-carat and 24-carat items.
How to stay informed
Track daily local quotes from multiple jewellers, keep an eye on international bullion and currency news, and consider checking live spot prices before making decisions. Short-term volatility is normal; align purchases with your budget and objectives.