Gold Prices India Drop: Understanding the Slide in Yellow Metal and Silver
If you’ve been following the gold rate today, you may have noticed a sharp correction — gold prices India drop while silver down significantly. Let’s unpack the numbers, trends, and possible reasons in simple terms.
About the Dip in Gold Prices
City-Wise Gold and Silver Rates
| City | Gold (₹ per 10g) | Silver (₹ per kg) |
|---|---|---|
| Delhi | 1,01,300 | 1,12,200 |
| Mumbai | 1,01,150 | 1,12,000 |
| Kolkata | 1,01,100 | 1,11,900 |
| Chennai | 1,01,400 | 1,12,300 |
Past 7-Day Trend
Over the last week, gold hovered between ₹1,01,800 and ₹1,02,500 per 10 g, showing small daily fluctuations before this sudden ₹1,000 drop. Silver mirrored the pattern, holding steady around ₹1,14,000 per kg until the recent correction.
Price Breakdown
- Current Price (Gold): ₹1,01,100 per 10 g (99.5% purity)
- Base Price: Previous close around ₹1,02,100 per 10 g
- One-Day Change: −₹1,000 (−0.98%)
- Silver: Now ₹1,12,000/kg, down from ₹1,14,000/kg
- Volatility: Mild to moderate, mainly driven by global cues and currency movements
Buying in Lots
While there’s no official lot size, jewellers typically sell gold from as little as 1 g upwards. For investment bars, common sizes include 10 g, 50 g, and 100 g.
Why This Move Matters
This drop reflects a combination of stronger global currencies, reduced safe-haven buying, and easing geopolitical tensions. For investors, a dip like this can be a window to average down purchase costs. For jewellers, it may trigger a short-term spike in demand ahead of festivals or wedding season.
On the flip side, traders should watch global bond yields, U.S. Fed commentary, and the INR-USD exchange rate. These factors can quickly reverse the current downtrend in the yellow metal.
Disclaimer
This content is for informational purposes only and does not constitute financial advice. Precious metal prices are volatile; always check live rates and consult a trusted advisor before making investment decisions.
