Gold prices drop: A good time for buyers

Gold buyers have a reason to rejoice as prices have dipped slightly, making it a favorable time to invest in the yellow metal. With wedding season driving demand for gold and silver jewelry, a minor price reduction comes as a relief for consumers.

Also read: Gold prices surge amid economic turmoil and trade wars

In Bengaluru, the price of 22-carat gold has fallen to ₹7,940 per gram from ₹7,960 yesterday, marking a ₹20 decline. The price for 10 grams has dropped by ₹200, now standing at ₹79,400. Similarly, 24-carat gold is priced at ₹8,662 per gram, down ₹22 from yesterday’s ₹8,684. A 10-gram purchase now costs ₹86,620, reflecting a ₹220 decrease.

Gold prices vary across cities. In Delhi, 22-carat gold costs ₹79,550 per 10 grams, while in Chennai and Bellary, it is priced at ₹79,400. In Ahmedabad, the price stands at ₹79,450.

Silver prices, however, remain unchanged. In Bengaluru, 1 gram of silver is priced at ₹97, with 10 grams costing ₹970—the same as yesterday.

Despite the decline, gold remains a significant investment, and buyers are advised to check daily rates before making a purchase. As gold prices fluctuate, this slight dip presents a timely opportunity for those planning to buy jewelry or invest in bullion.