Gold and Silver Price Today: Gold Prices Decline Today; Find Out How Much the Rate for 24-Carat Gold Has Dropped
Gold and Silver Price Today: After witnessing a surge of approximately ₹33,900 per 100 grams in just three days, gold prices have declined today. Rates have decreased across all segments of gold.
Gold and Silver Price Today: Following a sharp rally in domestic gold prices over the past few days, a slight respite is being observed today. A rapid upward trend in prices was recorded during recent trading sessions. Consequently, the price of 24-carat gold had surged by approximately ₹33,900 per 100 grams in a span of just three days. However, gold prices have now retreated amidst a significant strengthening of the currency.
24-Carat Gold Prices
According to data from GoodReturns, the price of 24-carat gold today stands at ₹14,897 per gram, marking a substantial decline of ₹398 from yesterday’s price of ₹15,295. Similarly, the price of 8 grams of 24-carat gold is ₹1,19,176, which is ₹3,184 lower than the previous price of ₹1,22,360.
Today, 10 grams of 24-carat gold is trading at ₹1,48,970, reflecting a decline of ₹3,980 from the previous price of ₹1,52,950. For wholesale buyers, the price of 100 grams of 24-carat gold is now ₹14,89,700—a significant drop of ₹39,800 from the previous price of ₹15,29,500.
22-Carat Gold
In the 22-carat segment, the rate for 1 gram has dropped by ₹365—from ₹14,020 to ₹13,655. The price for 8 grams has dropped by ₹2,920—from ₹1,12,160 to ₹1,09,240. The rate for 10 grams has now decreased by ₹3,650—from ₹1,40,200 to ₹1,36,550. Similarly, the price of 100 grams of 22K gold has fallen by ₹36,500—from ₹14,02,000 to ₹13,65,500.
18 Carat
According to the latest trading session, the price of 1 gram of 18-carat gold today has dropped by ₹298—from ₹11,471 to ₹11,173. The price for 8 grams has decreased by ₹2,384—from ₹91,768 to ₹89,384. The price for 10 grams has now fallen by ₹2,980—from ₹1,14,710 to ₹1,11,730. Meanwhile, the price of 100 grams of 18-carat gold has declined by ₹29,800—from ₹11,47,100 to ₹11,17,300.
Why Did Gold Suddenly Become Cheaper?
This decline in gold prices was driven by a significant strengthening of the Indian Rupee. The Rupee recorded its biggest gain in over 12 years after the Reserve Bank of India (RBI) introduced new measures to curb currency volatility. Generally, a strong Rupee makes gold cheaper in domestic markets, thereby exerting downward pressure on prices. Essentially, a strong Rupee translates to cheaper imports; and since India imports gold from abroad, the strengthening of the Rupee has effectively reduced import costs.
Silver Prices
Today, the price of silver in the country stands at ₹250 per gram and ₹2,50,000 per kilogram. Not much change is visible in this compared to yesterday.
