Gold Prices Crash ₹13,000 in 7 Days
Big Fall in Gold Rates Amid Of Global Tension: Gold prices have witnessed a sharp decline over the past week, falling by nearly ₹13,000 and creating what many are calling a “golden opportunity” for investors. After recently touching highs of around ₹1.5 lakh per 10 grams, prices have now slipped to nearly ₹1.33 lakh, offering some relief to buyers.
Currently, 24-carat gold is priced at around ₹1,45,970 per 10 grams, registering a daily drop of ₹2,940. Similarly, 22-carat gold has fallen by ₹2,750, bringing its price to approximately ₹1,33,800 per 10 grams. Meanwhile, 18-carat gold has also declined by ₹2,250 and is now trading near ₹1,09,480 per 10 grams.
Silver prices have also seen a significant correction, dropping by ₹10,000 per kg to around ₹2.5 lakh.
Market experts attribute this volatility to global geopolitical tensions, particularly in the Middle East involving countries like Iran, Israel, and the United States. The strengthening of the US dollar and reduced investor interest in gold have contributed to the recent price fall.
Despite the decline, gold prices remain above ₹1.3 lakh, which continues to be expensive for middle-class and lower-income consumers. Many buyers are now hoping for a further dip, while some are shifting interest toward more affordable options like 18-carat gold.
Overall, the gold market continues its “hide-and-seek” trend, with fluctuations driven by both global uncertainties and changing investor sentiment.
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