Stories
Gold Price Plummets by ₹2,510, Silver Also Cheaper! Golden Opportunity for Jewelry Lovers
- •Gold price suddenly dropped by ₹2,510, with silver also becoming cheaper.
- •In Bengaluru, 24-carat gold is ₹15,017 per gram, and 22-carat gold is ₹13,765 per gram.
- •Major cities like Mumbai, Chennai, Kolkata, Hyderabad, Ahmedabad, Bhopal, Delhi, Jaipur, Lucknow, and Chandigarh also saw a decrease in gold prices.
- •Silver prices have fluctuated over the past three days, with 999 purity silver trading at ₹2,28,700 per kilogram today.
- •Several factors contribute to the fall in gold and silver prices, making it a good opportunity to buy jewelry.
Key Questions Answered
In Bengaluru, 24-carat gold is ₹15,017 per gram, 22-carat is ₹13,765, and 18-carat is ₹11,263. In cities like Mumbai, Chennai, Kolkata, and Hyderabad, 22-carat gold is priced at ₹1,39,940 and 24-carat at ₹1,52,670 per 10 grams. Meanwhile, silver is trading at ₹2,28,700 per kilogram.
Gold and silver prices faced downward pressure due to several key factors, including expectations of a Federal Reserve rate hike in October, a stronger US dollar index climbing above 101.39, and rising US Treasury yields reaching levels near 2004 highs.
Gold rose about 11 percent between July and August but fell roughly 6 percent in September, trading around $4,300 per ounce. On international markets like COMEX, gold dropped 1.57 percent to $4,253.40 an ounce, while MCX gold fell by ₹2,900 per 10 grams.
