Gold Prices Drop Significantly: Price of 10 Grams of Pure Gold Revealed
Gold prices, which had been rising steadily in recent weeks, saw a significant decline recently. In a single day, prices dropped by over ₹1,500, bringing the cost of 10 grams of pure gold down to ₹91,450 in the Delhi bullion market. A week ago, the price was around ₹93,000, but with the latest fall, it has dropped below ₹92,000.
According to bullion traders, this decline in gold prices is attributed to increased selling activity by jewellery merchants and stockists. In the Hyderabad bullion market, the price of 10 grams of gold fell by ₹280 to reach ₹90,380.
Silver prices also saw a downward trend. Due to a halt in purchases from industrial sectors and coin manufacturers, silver prices fell by ₹3,000 per kilogram, dropping to ₹92,500. However, in Hyderabad, the price of a kilogram of silver remained at ₹1.03 lakh.
Market analysts stated that fears of an economic slowdown, combined with a crash in equity markets triggered by actions of United States President Donald Trump, have led investors to shift towards selling, which contributed to the price declines.
In the international market, the price of gold dropped by $10.16 per ounce, reaching $3,027, while silver held steady at $30.04 per ounce.