Gold-Silver Rate Crash: Massive Decline Ahead of Chhath Festival — Gold Down by ₹8,000 and Silver by ₹21,000; Check Latest Rates
National Desk: Just before the Chhath festival, a sharp fall has been witnessed in gold and silver prices. Recently, the price of 24-carat gold had reached around ₹1,33,000 per 10 grams, but now it has dropped to ₹1,22,300 per 10 grams on the MCX. After a slight rebound today, gold is trading at ₹1,23,800 per 10 grams, giving investors a benefit of about ₹8,000.
Silver prices have also declined significantly. Earlier, silver had touched nearly ₹1,85,000 per kilogram, but it is now trading below ₹1,60,000 per kilogram. Traders believe that fluctuations in international trade and tariffs are causing this price volatility.
Global Market Also Witnesses a Dip
In Asian markets, gold and silver prices have fallen for the third consecutive day. The price of gold, which was around $4,381 per ounce at the beginning of the week, has now dropped to $4,090 per ounce. Silver prices have also declined by nearly 10%.
Experts predict that gold and silver prices may continue to fall in the coming days. However, for long-term investors, this could be a golden opportunity. Traders also speculate that by 2026, gold prices may reach around ₹2 lakh per 10 grams, while silver could touch ₹2.5 lakh per kilogram.
Drop in 24-Carat Gold Prices Across India
According to the Good Returns website, the price of 24-carat gold has fallen by ₹810 per 10 grams compared to the previous day. The price per gram has decreased from ₹12,589 to ₹12,508.
- 8 grams: from ₹1,00,712 to ₹1,00,064
- 10 grams: from ₹1,25,890 to ₹1,25,080
- 100 grams: from ₹12,58,900 to ₹12,50,800
22-Carat Gold Rates Also Decline
The price of 22-carat gold has dropped by ₹750 per 10 grams.
- 1 gram: from ₹11,540 to ₹11,465
- 8 grams: from ₹92,320 to ₹91,720
- 10 grams: from ₹1,15,400 to ₹1,14,650
- 100 grams: from ₹11,54,000 to ₹11,46,500
Gold and silver prices are expected to remain volatile in the near term due to international market trends and currency fluctuations.
