Gold and Silver Prices Plunge After Sudden Surge

After witnessing an extraordinary rise in precious metal prices yesterday, the market saw a sharp correction today.

Gold and silver rates dropped significantly, bringing relief to buyers and sparking cautious optimism among traders.

According to market data, the price of 24-carat gold fell by Rs 8,230, now standing at Rs 1,70,620 per 10 grams. Similarly, 22-carat gold dropped by Rs 7,550, priced at Rs 1,56,400 per 10 grams.

Silver too witnessed a steep decline, falling by Rs 10,000 per kilogram to settle at Rs 4,15,000 per kg.

Yesterday’s surge of Rs 11,000 in gold prices had surprised both traders and customers, raising concerns about affordability and volatility.

Today’s correction is being viewed as a balancing act, influenced by global market cues and investor sentiment.

While traders expect further adjustments in the coming days, many buyers see this dip as an opportunity to invest at lower rates.

Experts, however, caution that volatility in precious metals may continue until international markets stabilise.