Gold and silver prices drop sharply after Diwali surge; fall by Rs 10,000 per 10 gm over past 21 days
As of today, the price of 10 grams of gold stands at Rs 1,20,231, compared to Rs 1,30,874 on October 17
PTC Web Desk: After witnessing a strong rally during the Diwali period, gold and silver prices have seen a consistent decline across India. According to data from the Indian Bullion and Jewellers Association (IBJA), gold prices have fallen by Rs 10,643 per 10 gram over the past 21 days.
As of today, the price of 10 grams of gold stands at Rs 1,20,231, compared to Rs 1,30,874 on October 17. The latest figures indicate a Rs 439 drop from the previous day, when gold was priced at Rs 1,20,670 per 10 gram.
Silver has also witnessed a steep correction in recent weeks. The white metal, which had climbed to Rs 1,78,000 per kg last month, is now trading at Rs 1,48,000 per kg.
Market experts attribute the recent decline to post-festival corrections and global economic factors influencing commodity prices. However, analysts predict that with the wedding season approaching, both gold and silver may regain momentum in the coming weeks as consumer demand rises.