After remaining stable for the past three to four days, the gold price today witnessed a sharp fall along with silver rates, offering much-needed relief to buyers. The sudden decline has attracted strong attention in the bullion market, especially among investors and jewellery shoppers looking to make fresh purchases.
Gold prices dropped by over Rs. 2,500 per 10 grams. In the Hyderabad bullion market, the price of 24-carat gold now stands at Rs. 1,55,780 per 10 grams. Compared to yesterday’s rate, the price fell by Rs. 2,620.
Similarly, 22-carat gold also recorded a notable decline. The price of 10 grams of 22-carat gold has come down to Rs. 1,42,800. This marks a decrease of Rs. 2,400 compared to the previous day.
Silver Prices Witness Major Correction
Silver prices also registered a significant fall. The metal declined by nearly Rs. 15,000 per kilogram, providing additional relief to bulk buyers and traders. Market analysts attribute this correction to fluctuations in global trends and profit booking by investors.
Market Reaction and Buyer Sentiment
Jewellery traders say the price drop may boost demand in the coming days. Many customers who postponed purchases due to high prices may now consider buying. However, experts advise buyers to track international market trends, as bullion prices often fluctuate based on global cues and currency movements.
Overall, the recent correction has created a positive sentiment among buyers, even as markets remain cautious about future price movements.
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