Gold and silver prices saw a sharp drop on Tuesday. Prices often fluctuate after festivals, but this time the decline was so severe that it surprised both investors and buyers.
All three categories of gold—24-carat, 22-carat, and 18-carat—saw sharp declines, while silver also fell by up to ₹5,000 in a single day. This sudden drop in prices is nothing less than a golden opportunity for those considering buying gold.
18 carat gold price
The biggest decline was recorded in 24 carat pure gold.
- Yesterday’s Price: Rs 1,25,550 (10 grams)
- Today’s price: Rs 1,23,810 (10 grams)
- Fall: Rs 1740
Such a huge fall in the prices of 24 carat gold has been seen for the first time in the last several weeks.
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18 carat gold price
- Yesterday’s Price: Rs 1,15,100 (10 grams)
- Today’s Price: Rs 1,13,500 (10 grams)
- Total fall: Rs 1600
This is considered to be a very beneficial time for those buying jewellery.
18 carat gold price
- Yesterday’s price: Rs 94,200 (10 grams)
- Today’s price: Rs 92,910 (10 grams)
- Fall: Rs 1,290
18 carat gold is commonly used in designer jewellery and hallmarked artificial-mix jewellery.
Silver price
Along with gold, there was a big decline in the prices of silver also.
- Yesterday’s price: Rs 1,67,000 (1 kg)
- Today’s Price: Rs 1,62,000 (1 kg)
- Fall: Rs 5000
This fall in silver prices is a big signal for investors that weakness is increasing in the market.
Why are gold and silver prices falling?
Experts believe that precious metal prices are under pressure due to weakness in global markets, a strengthening dollar, and interest rate cues. Further price volatility is possible in the coming days.
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