Tue Feb 04 09:12:13 UTC 2025: **Gold Prices Dip Slightly in India After US Dollar Correction**

**Mumbai, India (February 4, 2025)** – Gold prices in India saw a slight dip on Tuesday, February 4th, following a period of volatility driven by fluctuations in the US dollar and global trade concerns. While prices remain above ₹84,000 per 10 grams, the 24K gold price in Delhi fell by ₹10 to ₹84,190, and in Mumbai, it dropped to ₹84,040. 22K gold also experienced similar minor declines.

The price movements followed a dramatic Monday, where gold prices plummeted over ₹400 per 10 grams due to anxieties surrounding potential US tariffs on Canada and Mexico. The US dollar strengthened significantly on Monday, reaching over 109, dampening gold’s appeal as a safe-haven asset. However, President Trump’s announcement of a one-month delay on the tariffs caused the US dollar to retreat, boosting gold prices globally and subsequently impacting the Indian market. Spot gold reached $2,820 an ounce in early Asian trade on Tuesday.

Silver prices also experienced a downturn, falling ₹100 to ₹99,400 per kilogram due to weak domestic demand, despite holding steady at $31.61 an ounce internationally.

Analysts are closely watching upcoming US labor data and Federal Reserve statements for further guidance on market direction. Investor sentiment remains cautious, with ongoing attention on US trade policies and their effect on precious metal markets.

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