CNN Central News & Network–ITDC India Epress/ITDC News Bhopal: A significant drop has been recorded in gold and silver prices. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24-carat gold has fallen by 1,316 rupees, now at 73,944 rupees. Over the past 15 days, gold prices have dropped by 5,737 rupees, a 7% decline. Silver prices also fell by 2,189 rupees, reaching 87,558 rupees per kilogram.
Gold prices in major cities:
Delhi: 22-carat gold at 69,500 rupees, 24-carat gold at 75,800 rupees per 10 grams.
Mumbai: 22-carat at 69,350 rupees, 24-carat at 75,650 rupees per 10 grams.
Kolkata and Chennai: 22-carat at 69,350 rupees, 24-carat at 75,650 rupees per 10 grams.
Bhopal: 22-carat at 69,400 rupees, 24-carat at 75,700 rupees per 10 grams.
Key reasons for the gold price drop:
Profit booking: After a three-month rally, profit-taking has reduced gold demand.
Rise in the Dollar Index: Following Donald Trump’s victory, the Dollar Index rose by 2.36%, reducing gold demand.
Stabilization in international political unrest: With no recent major events in the Middle East, Russia-Ukraine, or Israel-Iran tensions, gold prices have stabilized.
Federal Reserve’s small rate cut: The Federal Reserve’s lower-than-expected 0.25% rate cut led to reduced gold demand.
Important tips when buying gold:
Only buy certified gold: Choose BIS Hallmarked certified gold and check the Hallmark Unique Identification (HUID) number.
Cross-check prices: Verify gold rates for 24-carat, 22-carat, and 18-carat gold across multiple sources.
Avoid cash payments; always take a receipt: Make digital payments and ensure you get a bill. If ordering online, verify the packaging.
Conclusion:
In recent weeks, gold and silver prices have decreased. If planning to purchase gold, follow these precautions and stay aware of market fluctuations.
#GoldPrices #SilverPrices #GoldDrop #SilverMarket #MarketUpdate
