Good News for Buyers! Gold and Silver Prices Witness Sharp Decline

Gold Silver Rate | After touching record highs over the past few days, gold and silver prices have witnessed a sharp fall today, bringing significant relief to customers and investors. On the MCX market in India, gold prices dropped by ₹19,000 per 10 grams to ₹1,49,075, while silver prices fell sharply by ₹98,000 per kilogram to ₹2,91,922.

The sudden decline is attributed to strong profit booking in the global bullion market that began on Friday, which has directly impacted domestic prices of precious metals. Rising prices had made gold and silver purchases difficult for common consumers, but today’s fall has created a positive buying sentiment.

According to Goodreturns data, in Delhi’s bullion market, 24-carat gold became cheaper by around ₹9,000 per 10 grams and is currently priced at ₹1,60,730, while 22-carat gold is trading at ₹1,47,350 per 10 grams.

Silver prices have also declined for the second consecutive day. In the Delhi bullion market, silver has fallen by ₹60,000 over the last two days and is currently priced at ₹3,50,000 per kilogram.

Market experts believe that the current dip has made today favourable for gold and silver purchases. However, prices may vary across cities due to factors such as excise duty, state taxes, GST and making charges. Customers are advised to check exact rates with local jewellers before making a purchase.