Gold prices dip for third straight day, bringing cheer to buyers

Gold prices have continued their downward trend for the third consecutive day, offering much-needed relief to jewelry enthusiasts and investors alike. Today, the price of 24-carat gold rate stands at ₹99,810 for 10 grams, marking a ₹400 drop from yesterday. Silver too saw a sharp correction, declining by ₹2,500 per kilogram to settle at ₹1,12,900.

Read more: Gold prices breach ₹1 lakh mark amid global uncertainty and Fed policy concerns

The consistent drop in prices has sparked renewed interest among consumers, particularly with the festive and wedding seasons approaching. Traditionally, gold jewelry holds significant cultural and financial value in India, especially among women who drive a substantial portion of the demand.

Encouraged buyers return to market to buy gold

With prices staying high for an extended period, many had held back from purchasing. However, the recent correction has encouraged buyers to return to the market.Experts suggest that both global and domestic factors are contributing to this decline, including fluctuations in international markets and changes in investor sentiment.

The fall in prices has not only benefited households looking to buy gold for personal use but has also attracted investors hoping to capitalize on lower rates. With continued volatility expected, market watchers are closely monitoring further developments.

Also read:

1. Gold prices drop: A good time for buyers
2. Gold prices surge amid economic turmoil and trade wars
3. Gold prices surge to record Rs 96,540 per 10g, nears Rs 1 lakh mark