After several days of continuous gains, gold and silver prices have finally witnessed a sharp decline today. This drop has come as a relief for buyers who had been waiting for prices to cool down amid the ongoing rally in precious metals.
Gold Prices See Major Correction
A significant fall has been recorded in gold prices today. The price of 10 grams of 24-carat gold, which stood at ₹1,78,850 yesterday, has dropped to ₹1,70,620. This marks a steep decline of ₹8,230 in a single day.
Similarly, 22-carat gold has also become cheaper. The price of 10 grams of 22-carat gold has fallen by ₹7,550, slipping from ₹1,63,950 to ₹1,56,400.
18-carat gold prices have not been spared either. The rate for 10 grams of 18-carat gold has declined from ₹1,34,140 to ₹1,27,970, reflecting a drop of ₹6,170.
Silver Prices Also Drop Sharply
Along with gold, silver prices have also registered a notable fall today. The price of 1 kilogram of silver has decreased by ₹15,000. After touching ₹4,10,000 per kg yesterday, silver is now trading at ₹3,95,000 per kg.
As a result, the price of 1 gram of silver has come down by ₹15 to ₹395.
Latest Gold Prices in Major Cities
In cities such as Mumbai, Kolkata, Bengaluru, Hyderabad, Kerala, Nagpur, Vijayawada, Bhubaneswar, Visakhapatnam, and Mysuru, 24-carat gold is currently priced at ₹17,062 per gram. In these cities, 22-carat gold is available at ₹15,640 per gram, while 18-carat gold is priced at ₹12,797 per gram.
In Delhi, Jaipur, Lucknow, Chandigarh, and Ayodhya, the price of 24-carat gold stands at ₹17,077 per gram. Meanwhile, 22-carat and 18-carat gold are priced at ₹15,655 and ₹12,812 per gram, respectively.
In southern cities like Chennai and Madurai, 24-carat gold is selling at ₹17,673 per gram. The price of 22-carat gold in these regions is ₹16,200 per gram, while 18-carat gold is priced at ₹13,500 per gram.
Latest Silver Prices Across Cities
In cities including Delhi, Kolkata, Bengaluru, Pune, Ahmedabad, Vadodara, Jaipur, Lucknow, Patna, Surat, and Chandigarh, silver is priced at ₹3,95,000 per kg. At this rate, 10 grams of silver costs ₹3,950, while 100 grams is priced at ₹39,500. The same rates are applicable in Rajkot, Nashik, and Ayodhya.
Meanwhile, in cities such as Chennai, Hyderabad, Kerala, Madurai, Vijayawada, Bhubaneswar, Cuttack, and Visakhapatnam, silver is trading at ₹4,15,000 per kg. In these regions, 10 grams of silver costs ₹4,150 and 100 grams is priced at ₹41,500.
The sharp decline in gold and silver prices has brought much-needed relief to buyers after a prolonged period of rising rates. Market experts suggest keeping a close watch on global trends, as future price movements will largely depend on international market cues and investor sentiment.