Gold and Silver Prices Decline in Early Trade
Gold price falls ₹10 to ₹1,54,190; silver down ₹100, trading at ₹2,64,900
Business Standard
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In early trading on Saturday, the price of 24-carat gold fell by ₹10 to ₹1,54,190 per 10 grams, while silver decreased by ₹100 to ₹2,64,900 per kilogram. The decline in prices comes amidst a backdrop of rising US gold prices supported by a weaker dollar.
- 0124-carat gold price decreased by ₹10, now at ₹1,54,190 per 10 grams.
- 02Silver price fell by ₹100, trading at ₹2,64,900 per kilogram.
- 0322-carat gold also saw a decline of ₹10, priced at ₹1,41,340 per 10 grams.
- 04US gold prices are rising due to a weaker dollar and geopolitical factors.
- 05Spot silver prices increased by 4.6% this week.
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On Saturday, the price of 24-carat gold dropped by ₹10, trading at ₹1,54,190 per 10 grams. Similarly, silver prices fell by ₹100, now at ₹2,64,900 per kilogram. The price of 22-carat gold also decreased by ₹10, with ten grams selling for ₹1,41,340. In various cities, gold prices varied slightly, with Chennai having the highest rates. This decline in local prices coincides with rising US gold prices, which are supported by a weaker dollar and geopolitical developments, including comments from Iran's foreign minister regarding the Strait of Hormuz. Spot gold is up 1.5% at $4,860.39 per ounce, and silver has risen 4.6% this week.
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The decline in gold and silver prices may influence buying decisions for consumers, especially during festive seasons when gold purchases typically increase.
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