Gold Prices Fall ₹1,700 in Two Days; Silver Drops Too

Gold buyers have received welcome relief after domestic gold prices witnessed a sharp correction over the past two days. The price of 24-carat gold has dropped by ₹1,700 per 10 grams, while 22-carat gold has fallen by ₹1,560, making this one of the biggest short-term declines in recent weeks. Silver prices have also extended losses for the second consecutive day.

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Why Have Gold Prices Fallen?

The decline comes as global investors remain cautious ahead of the US Federal Reserve’s upcoming monetary policy decision. A stronger US dollar has increased pressure on international gold prices, reducing demand for the precious metal as a safe-haven investment.

Lower industrial demand has also pushed silver prices lower, contributing to the overall weakness in the precious metals market.

Latest Gold Prices in Major Cities

Delhi

24 Carat: ₹1,44,310 per 10 grams

22 Carat: ₹1,32,290 per 10 grams

18 Carat: ₹1,08,270 per 10 grams

Mumbai

24 Carat: ₹1,44,160 per 10 grams

22 Carat: ₹1,32,140 per 10 grams

18 Carat: ₹1,08,120 per 10 grams

Pune

24 Carat: ₹1,44,160 per 10 grams

22 Carat: ₹1,32,140 per 10 grams

18 Carat: ₹1,08,120 per 10 grams

Gold rates may vary slightly across cities due to local taxes, transportation costs, and jewellers’ margins.

Silver Prices Continue to Decline

Silver has also witnessed significant selling pressure over the last two days. The price of silver has fallen by ₹5,100 per kilogram, taking the latest rate to ₹2,34,900 per kg in Delhi, Mumbai, Pune, and Chennai.

What Will Decide Gold Prices Next?

Market experts believe precious metal prices could remain volatile over the coming days. Investors will closely monitor several key global developments, including:

US Federal Reserve interest rate decision

US GDP and inflation data

Consumer Confidence Index

Geopolitical tensions in the Middle East

Interest rate decisions by the Bank of England (BoE) and Bank of Japan (BoJ)

Analysts expect further fluctuations in gold and silver prices depending on these global economic and geopolitical factors.