Significant drop in gold and silver prices; Impact of international market developments

In the bullion market today, a decline in the prices of gold and silver was recorded. The price of 24-carat gold fell by 1,175 rupees, stabilizing at 1,56,147 rupees per tola. Including taxes, this rate is approximately 1,60,831 rupees. A few days ago, gold had reached a peak of 1,76,121 rupees; compared to that, the current price is almost 20,000 rupees lower. 22-carat gold is being sold at 1,43,031 rupees per tola, while 18-carat is being sold at 1,17,110 rupees per tola. A decline is also observed in other carats.

There has been a significant drop in silver prices as well. The price fell by 5,835 rupees per kilogram, bringing it to 2,60,614 rupees. Including GST, the price is approximately 2,68,432 rupees. At the end of January, silver had reached a peak of 3,85,933 rupees; since then, the prices have significantly decreased.

International market developments have affected this. Strong economic data from the US strengthened the dollar and reduced the likelihood of interest rate cuts. As a result, pressure on precious metals increased.

However, investors in gold and silver have benefited well over the past year. As global tensions ease, investors are seen turning back to the stock market, resulting in a current softness in the demand for gold and silver, which are considered safe investments.

In Brief

• In the bullion market today, a decline in the prices of gold and silver was recorded.

• The price of 24-carat gold fell by 1,175 rupees, stabilizing at 1,56,147 rupees per tola.

• Including taxes, this rate is approximately 1,60,831 rupees.

• A few days ago, gold had reached a peak of 1,76,121 rupees.