Gold prices drop sharply by ₹600 per 10 grams: Relief for buyers amid recent surge

Gold buyers have something to cheer about, as prices of the yellow metal have seen a notable dip after a prolonged upward trend. The latest decline in rates brings some relief to consumers, especially those planning purchases for weddings and other occasions.

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After weeks of steady price hikes that had deterred many buyers, gold prices fell significantly today. In Bengaluru, the price of 22-carat gold dropped by ₹550 per 10 grams—from ₹89,850 to ₹89,300. Similarly, 24-carat gold fell by ₹600 per 10 grams, from ₹98,020 to ₹97,420.

On a per-gram basis, 22-carat gold is now ₹8,930 (down by ₹55), while 24-carat gold stands at ₹9,742 (down by ₹60). Experts note that such fluctuations are common in volatile markets, but today’s price correction has been welcomed by customers.

Gold prices in other major cities also reflect similar trends:

• Ahmedabad: ₹89,350 (22-carat)
• Delhi: ₹89,450 (22-carat)
• Chennai: ₹89,300 (22-carat)
• Bellary: ₹89,300 (22-carat)

Silver too saw a slight decline. In Bengaluru, 1 gram of silver is now priced at ₹107.80, down by 10 paise from yesterday. The price of 10 grams has dropped from ₹1,079 to ₹1,078.

Market analysts suggest that this dip could be a temporary opportunity for buyers to make purchases before prices bounce back.