Gold Prices Fall Today: Check 24K and 22K Rates Across Major Cities

Gold prices declined by more than 1 per cent in the futures market on Tuesday as investors reduced safe-haven buying amid improving geopolitical sentiment and a strengthening US dollar. On the Multi Commodity Exchange (MCX), gold futures for April delivery dropped by ₹2,228, or 1.44 per cent, to ₹1,52,532 per 10 grams, with a trading volume of 7,553 lots. Analysts said profit booking and changing expectations around US interest rates also contributed to the price fall.

Gaurav Garg, research analyst at Lemonn Markets Desk, stated that gold traded lower as investors reacted to a firmer dollar and shifting Federal Reserve rate expectations. He added that although investors booked profits after recent volatility, ongoing central bank buying and weak global equity markets helped prevent a sharp decline. Garg explained that precious metals entered a corrective phase in 2026 after a strong rally last year, but the long-term bullish trend remains intact.

Garg further said that the current price weakness reflects market consolidation rather than a reversal of the upward trend. He advised investors to hold their positions and rebalance portfolios during dips, while recommending staggered fresh investments due to market volatility. Meanwhile, global gold prices also declined as Comex gold futures for April delivery dropped by $119.6, or 2.37 per cent, to $4,926.7 per ounce.

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Market calm and firm dollar drag gold prices

Jigar Trivedi, senior research analyst at IndusInd Securities, noted that gold prices slipped amid thin trading volumes, as several Asian markets, including China, remained closed for the Lunar New Year. He added that improved geopolitical conditions and reduced market uncertainty influenced investor sentiment. Renisha Chainani from Augmont also said that easing geopolitical tensions and a stronger US dollar reduced safe-haven demand for gold.

Chainani highlighted that diplomatic signals, including indirect US involvement in Iran nuclear talks and renewed Ukraine-Russia discussions, boosted risk appetite among investors. As a result, many investors cut defensive positions in precious metals. She said market participants are now focusing on the Federal Reserve’s January meeting minutes to understand future interest-rate direction.

City-wise gold prices also declined across India. In Bengaluru, Delhi, Mumbai, Kolkata, Hyderabad, Pune, Bhubaneswar, Ahmedabad, Jaipur, Kanpur, and other major cities, 24K, 22K, and 18K gold rates fell compared to the previous day. For instance, Pune recorded 24K gold at ₹15,491 per gram, 22K at ₹14,200, and 18K at ₹11,618 per gram, reflecting declines of ₹153, ₹140, and ₹115 respectively. Similar drops were reported in other cities, indicating a nationwide dip in gold prices

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