Patna: Gold prices in India experienced a significant decline on Thursday, with 24-carat gold dropping by Rs 870 per 10 grams, according to the India Bullion and Jewellers Association (IBJA). The price opened at Rs 94,830 per 10 grams, excluding Goods and Services Tax (GST), down from the previous day’s closing rate.
In contrast, silver prices saw an uptick, increasing by Rs 218 per kilogram to reach Rs 97,664, also excluding GST. Including the standard 3% GST, gold was priced at Rs 97,674 per 10 grams, while silver stood at Rs 100,593 per kilogram.
The decline in gold prices was observed across various purities. Twenty-two-carat gold fell by Rs 797 to Rs 86,864 per 10 grams, and 18-carat gold decreased by Rs 652 to Rs 71,123 per 10 grams. Fourteen-carat gold also saw a reduction, dropping by Rs 509 to Rs 55,476 per 10 grams.
Despite the recent drop, gold remains significantly higher than at the beginning of the year. Since 31 December 2024, gold has increased by approximately Rs 19,090 per 10 grams, while silver has risen by Rs 11,647 per kilogram.
The IBJA updates bullion rates twice daily, around noon and 5 PM. Prices may vary by Rs 1,000 to Rs 2,000 across different cities due to local market conditions.
