Gold and Silver Prices Today: Bullion Rates See Sharp Decline

Gold and silver prices recorded a notable decline in the bullion market today, bringing some relief to buyers after recent highs. The fall in rates was observed across major cities, reflecting a broader correction in precious metal prices.

According to market sources, the price of 24-carat gold dropped by ₹8,620 per 10 grams, taking the new rate to ₹1,60,580 per 10 grams. Similarly, 22-carat gold also saw a significant reduction, falling by ₹7,900 per 10 grams to settle at ₹1,47,200.

Silver prices followed a similar trend. The rate of pure silver (999 purity) declined in line with gold, indicating subdued demand and profit booking by investors. Market analysts attribute the fall to global cues, including a stronger dollar and cautious sentiment ahead of key economic developments.

Traders noted that while prices have eased in the short term, volatility is expected to continue due to international market movements and domestic demand factors. Buyers and investors are advised to keep a close watch on daily price fluctuations before making purchase decisions.