Gold Drops ₹9,500 in a Day, Silver Plunges ₹20,000 per Kg!
Gold and Silver Prices Crash, Investors Lose ₹13 Lakh Crore: Gold and silver rate have witnessed a sharp decline over the past week, bringing relief to consumers. On Tuesday, gold prices dropped by over ₹10,000 per 10 grams, with 22-carat gold priced at ₹1,24,350 and 24-carat gold at ₹1,35,650. Silver prices also saw a significant fall of ₹20,000 per kg, reaching ₹2,30,000.
The decline is attributed to a strengthening US dollar amid ongoing geopolitical tensions in the Middle East, prompting investors to shift away from gold. Profit booking by traders has further contributed to the price drop.
Despite the fall, market volatility has left consumers uncertain about the right time to invest. However, jewellery stores are witnessing increased footfall as buyers take advantage of lower prices, especially with the wedding season approaching.
Experts suggest that the current dip may be temporary and caution that prices could rise again if global tensions escalate, reaffirming gold’s status as a safe-haven investment.
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