Srinagar, July 24: Gold prices witnessed a decline in Srinagar on Friday, mirroring the broader trend in domestic bullion markets and offering some relief to buyers after recent highs. Market observers said the correction comes amid softer international bullion prices and changing investor sentiment.

According to market data, 24-carat gold in Srinagar was trading at around ₹14,460 per gram, while 22-carat gold was priced at approximately ₹13,246 per gram. Retail rates, however, may vary slightly across jewellery stores depending on making charges and local market conditions.

Jewellers in Srinagar said customer footfall remained moderate, with many buyers adopting a wait-and-watch approach in anticipation of further corrections in prices. Traders noted that demand is expected to pick up with the onset of the festive and wedding season.

Bullion analysts attributed the recent movement in gold prices to fluctuations in global markets, the strength of the US dollar, and expectations surrounding interest rate decisions by major central banks.

Consumers planning to purchase gold have been advised to compare rates across jewellery outlets, as prices may differ due to making charges, GST, and retailer premiums.