Gold Price Today Sees Sharp Fall as Gold Rates Drop While Silver Prices Remain Stable

Gold Prices Witness Major Drop

People planning to buy gold received welcome news on Tuesday as domestic gold prices registered a significant decline. The price of 24 carat gold fell by Rs 1,360 per 10 grams, bringing the latest rate down to Rs 1,45,260. Meanwhile, 22 carat gold dropped by Rs 1,250 per 10 grams and is now priced at Rs 1,33,150.

The sharp correction comes after movements in the international bullion market, with several global economic factors influencing precious metal prices.

Silver Prices Hold Steady

Unlike gold, silver prices remained unchanged in the domestic market. One kilogram of silver is currently priced at Rs 2,50,000 in Hyderabad, Vijayawada, and Kerala. In cities including Delhi, Mumbai, Bengaluru, Kolkata, and several other markets, the price continues to remain at Rs 2,45,000 per kilogram.

Why Gold and Silver Prices Change

Gold and silver prices fluctuate due to a combination of international and domestic factors. Global bullion market trends, the rupee against the US dollar, inflation data, interest rate expectations, import duties, geopolitical developments, and overall economic conditions all play an important role in determining daily prices.

Whenever global uncertainty increases, investors often shift towards gold as a safe investment option. This increased demand can push prices higher, while improving economic conditions may lead to corrections.

Things to Check Before Buying Gold

Experts advise buyers to purchase only BIS hallmarked gold jewellery to ensure purity and authenticity. Customers should also verify making charges, GST details, and collect a valid purchase invoice. These documents become useful when selling or exchanging jewellery in the future.

Those buying gold as an investment should compare prices across multiple jewellery stores before making a purchase, as rates and additional charges can vary from one retailer to another and between different cities.