Consumers planning to buy gold may find some relief as precious metal prices continued to decline on June 18. Gold rates have now fallen for the third consecutive day, driven by a stronger Indian rupee and positive sentiment in the domestic stock market. The decline has reduced the cost of gold across major cities, offering an opportunity for buyers ahead of the upcoming festive and wedding seasons.

Market analysts suggest that improved investor confidence in equities and currency strength have reduced demand for safe-haven assets such as gold, resulting in a gradual correction in prices over the past few trading sessions.

Gold Prices Extend Recent Losses

Over the last three days, the price of 24-carat gold has dropped by approximately ₹440 per 10 grams, while 22-carat gold has become cheaper by around ₹410 per 10 grams.

The decline follows a sharp correction recorded earlier in the week when gold prices witnessed a significant fall across domestic markets. On June 18, gold prices slipped slightly further in several cities, continuing the downward trend.

For buyers who had postponed their purchases due to record-high rates in recent months, the current correction may provide a favorable entry point.

Gold Rates in Major Indian Cities on June 18

The latest prices for 24-carat, 22-carat, and 18-carat gold (per 10 grams) are as follows:

Among the listed cities, Chennai recorded the highest gold prices across all purity categories, while Mumbai, Kolkata, Bengaluru, and Hyderabad remained among the most affordable major markets for gold buyers.

Why Are Gold Prices Falling?

Several factors have contributed to the recent decline in gold rates:

Stronger Indian Rupee

A stronger rupee reduces the cost of importing gold into India, which can put downward pressure on domestic prices.

Positive Equity Market Performance

When stock markets perform well, investors often move funds from safe-haven assets such as gold into equities in pursuit of higher returns. This shift in investment demand can lead to softer gold prices.

Profit Booking by Investors

After gold reached record highs earlier this year, many investors chose to book profits, increasing market supply and contributing to price corrections.

Silver Prices Also Decline

Silver prices also witnessed a modest decline after remaining unchanged for two consecutive days.

The metal had recently experienced a strong rally, including a sharp increase of ₹5,000 per kilogram earlier in the week. However, fresh selling pressure led to a small correction on June 18.

In Delhi, silver prices slipped by ₹100 per kilogram to ₹2,64,900 per kg.

Latest Silver Rates in Major Metro Cities

Among the four major metropolitan cities, Chennai continued to record the highest silver price, trading ₹10,000 per kilogram higher than Delhi, Mumbai, and Kolkata.

Is This a Good Time to Buy Gold?

The recent correction may be encouraging for buyers who were waiting for prices to soften after reaching historic highs. While gold remains a preferred investment and jewelry choice in India, market experts advise consumers to monitor international gold trends, currency movements, and geopolitical developments before making large purchases.

With prices easing for the third consecutive day, buyers planning jewelry purchases, investments, or wedding-related shopping may benefit from the current decline. However, as global economic conditions remain uncertain, precious metal prices could continue to fluctuate in the coming weeks.

For now, both gold and silver have become slightly more affordable, offering some relief to consumers across the country.