North India Statesman
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If you are planning to buy gold or silver, then there is a great news for you. The prices of gold and silver which have been continuously skyrocketing have finally come to a halt. Amidst the huge turmoil in the domestic and international markets, there has been a huge fall in the prices of precious metals. This week, 24 carat gold has become cheaper by ₹ 1,740, while silver prices have seen a historic fall of ₹ 15,000. Let us know what happened overnight that changed the entire mathematics of the bullion market.
Gold prices skyrocketed in metros
As soon as the bullion market opened on the morning of Monday, April 27, the faces of the customers brightened up. In the capital Delhi, the price of 24 carat gold has fallen to ₹ 1,54,180 per 10 grams. At the same time, in the financial capital Mumbai also it has fallen to ₹ 1,54,030 per 10 grams. According to experts, within the last one week, there has been a huge relief of ₹ 1,600 in the prices of 22 carat gold. Talking about the global market, spot gold has fallen to the level of $4,694.26 per ounce.
Why are precious metals suddenly becoming cheaper?
Many global factors are working behind this huge fall in the prices of gold and silver. The biggest reason is the continuous strengthening of the US dollar. Apart from this, the rise in crude oil prices in the global market is also a major reason. Crude oil has reached around $107 per barrel, causing fear of rising inflation across the world. Due to the fear of inflation, it is now believed that interest rates will remain high for a long time, due to which investors have started withdrawing their money from gold.
Trump’s decision increased the heartbeat of the market
The biggest connection of this turmoil in the market is with the geo-political news coming from the Middle East. In fact, clouds of crisis are now looming over the peace talks between America and Iran. Iran’s Foreign Minister Abbas Araghchi has returned from Islamabad after submitting his conditions to the leaders of Pakistan. Soon after, US President Donald Trump shocked the whole world by posting a post on ‘Truth Social’. Trump announced that he has canceled the visit of US ambassadors Steve Witkoff and Jared Kushner to Pakistan. This diplomatic instability has created uncertainty in the market, whose direct impact is visible on the prices of gold and silver.
What is the gold rate today in major cities of the country?
Before investing or getting jewelry made, definitely know the latest price of your city. The rates from Delhi to Lucknow and Patna are as follows:
| City | 22 carat (₹/10 grams) | 24 carat (₹/10 grams) |
|---|---|---|
| Delhi | 1,41,340 | 1,54,180 |
| Mumbai | 1,41,190 | 1,54,030 |
| Chennai | 1,41,990 | 1,54,900 |
| Kolkata | 1,41,190 | 1,54,030 |
| Pune | 1,41,190 | 1,54,030 |
| Bengaluru | 1,41,190 | 1,54,030 |
| Ahmedabad | 1,41,240 | 1,54,080 |
| Hyderabad | 1,41,190 | 1,54,030 |
| Jaipur | 1,41,340 | 1,54,180 |
| Lucknow | 1,41,340 | 1,54,180 |
| Bhopal | 1,41,240 | 1,54,080 |
| Chandigarh | 1,41,340 | 1,54,180 |
Silver prices also dropped, historic fall of ₹ 15,000
The condition of silver these days is worse than gold. There was a sharp fall in silver prices this morning and it fell to ₹ 2,59,900 per kg. You will be surprised to know that within just a week the price of silver has fallen by ₹ 15,000. In the international market too, the price of spot silver has fallen to $75.48 per ounce. In such a situation, for those who were planning to buy for marriage or investment, this decline is no less than a lottery.
