Patna: Gold and silver prices registered a decline today, offering slight relief to buyers amid continued volatility in the bullion market. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold fell by Rs 801, bringing it down to Rs 1,50,277.
Silver prices also witnessed a marginal drop. The rate of one kilogram of silver decreased by Rs 300 and is now trading at Rs 2,55,300.
The decline comes at a time when global economic uncertainty and fluctuations in the US dollar continue to impact precious metal prices. Market experts believe that international trends and changing investor sentiment remain key factors influencing domestic bullion rates.
Meanwhile, Prime Minister Narendra Modi on Sunday urged citizens to avoid purchasing gold jewellery for the next year, irrespective of family functions or celebrations. He said reducing gold purchases would help conserve India’s foreign exchange reserves.
The Prime Minister noted that India relies heavily on gold imports, which are paid for in US dollars. As the dollar strengthens, the country’s import expenses increase further, putting additional pressure on foreign exchange reserves.
Gold Rates by Purity
- 24-Carat Gold (10 gm): Rs 1,50,277
- 22-Carat Gold (10 gm): Approx. Rs 1,37,700
- 18-Carat Gold (10 gm): Approx. Rs 1,12,700
Silver Rate
- Silver (1 kg): Rs 2,55,300
Market analysts say bullion prices may continue to fluctuate in the coming days depending on international market movements, inflation concerns and currency exchange trends.
