In early trading on Saturday, the price of 24-carat gold fell by ₹10, bringing it to ₹1,55,720 per 10 grams, as reported by GoodReturns. Concurrently, silver prices decreased by ₹100, with one kilogram now costing ₹2,74,900. The price for 22-carat gold also declined by ₹10, trading at ₹1,42,740 per 10 grams. Regional variations were noted, with Chennai reporting a higher rate of ₹1,57,950 for 24-carat gold and ₹2,79,900 for silver. The recent drop in prices is attributed to a stronger-than-expected US jobs report, which has led to speculation that the Federal Reserve may maintain elevated interest rates for an extended period due to ongoing inflation concerns linked to geopolitical tensions in the Middle East. Spot gold saw a notable decline of 2.4%, reaching $4,365.93 per ounce, marking a significant weekly loss of approximately 3.8%. Demand for gold in India has been weak this week, and premiums in China have also decreased, indicating a broader trend affecting precious metals globally.