Gold Price Today: The wedding season has begun across the country. Gold prices, which had been skyrocketing, have now begun to fall. The price of gold has seen a significant drop in the past 15 days. In the past 15 days, gold has fallen by more than ₹12,000 from its all-time high.
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Gold Rate Today: The wedding season has begun across the country. Gold prices, which had been skyrocketing, are now falling. The price of gold has seen a significant drop in the past 15 days. Gold has fallen by more than ₹12,000 from its all-time high. Silver prices have also fallen by more than ₹20,000.
Significant Drop in Gold Price
The wedding season has begun in India. The high price of gold was a concern for people during the wedding season, but now the price of gold has begun to decline. Gold prices have fallen by more than ₹10,000 in the past 15 days. Silver prices have fallen by more than ₹20,000. This is the second consecutive week of decline in prices. In just the past week, the price of 24-carat gold has fallen by ₹2,620. If you look at the current price of gold, the gold and silver prices posted on the website of the India Bullion and Jewelers Association are as follows: While buying a 10-gram gold earring is a struggle, someone has purchased 200 kilograms of gold in a month, their coffers brimming with gold.
Prices of 24-carat to 18-carat gold
The price of 24-carat gold is ₹119,916 per 10 grams.
The price of 23-carat gold is ₹119,436 per 10 grams.
The price of 22-carat gold is ₹109,843 per 10 grams.
The price of 18-carat gold is ₹89,937 per 10 grams.
The price of silver has reached ₹145,800 per kilogram.
What caused the decline in gold prices?
Several reasons are behind the decline in gold and silver prices for the second consecutive week. The first reason is that the continued strengthening of the US dollar is putting pressure on gold prices, making gold cheaper. With the easing of geopolitical tensions globally, investors are shifting their funds from gold to higher-yielding assets like the stock market. The third reason is that the possibility of a trade deal between the US and China has increased since the meeting between Trump and Xi Jinping. Meanwhile, the US has taken a positive stance on trade deals with India, Korea, and other countries, which has encouraged investors to turn to the market instead of gold. Meanwhile, the Federal Reserve’s interest rate cut in the US has prompted major investors to turn to bonds.
Will gold become cheaper now?
Market experts have different opinions on this matter. According to experts, given the global situation developing in the coming days, with India moving forward with a trade deal with the US, the price of gold may fall. Gold may become cheaper. However, due to increased demand for gold due to weddings, the upward trend in prices is expected to continue. If you are buying gold for a wedding, you can do so. If you are buying it for investment, you can take advantage of the falling price.
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