Gold drops by 1,519 to 75,321 per 10 grams: Silver became cheaper by 2,554 | Check rates of your city

The India Bullion and Jewelers Association (IBJA) has announced a significant drop in the prices of gold and silver, providing a respite to buyers. According to IBJA’s recent update, the price of 24-carat gold fell by Rs 1,519, bringing it down to Rs 75,321 per 10 grams. This marks a substantial decrease from its previous price of Rs 76,840 per 10 grams. Similarly, silver prices also saw a decline, dropping by Rs 2,554 to Rs 88,305 per kilogram from the earlier rate of Rs 90,859 per kilogram.

The decrease in prices is attributed to various market factors, and the new rates are being reflected across major cities in India. This drop has piqued the interest of investors and consumers looking to purchase precious metals.

In Delhi, the price for 10 grams of 22-carat gold stands at Rs 71,000, while 24-carat gold is priced at Rs 77,440. In Mumbai, Kolkata, and Chennai, 10 grams of 22-carat gold is priced at Rs 70,850, and 24-carat gold at Rs 77,290, showing uniformity across these cities. Meanwhile, in Bhopal, the price of 22-carat gold for 10 grams is Rs 70,900, with 24-carat gold priced at Rs 77,340.

This decline in gold and silver prices is likely to encourage more purchases, particularly in the context of the upcoming wedding season and festive occasions, which traditionally witness high demand for gold in India.