The week started with a decline in the domestic bullion market. On Monday, there was a big weakness in the prices of both gold and silver. There was a huge fall in the price of silver by ₹ 3,155 per kg, after which its price came down to ₹ 2.17 lakh per kg. At the same time, gold also became cheaper by ₹ 1,079 per 10 grams. Due to continuously falling prices, investors as well as customers planning to buy jewelery are keeping an eye on the market.
The most talked about issue is the sharp fall in silver prices. According to market data, silver has become cheaper by about ₹ 25,000 per kg in the last one month. This is considered to be one of the biggest monthly declines in recent times.
Big fall in silver in one month
For the last few weeks, there have been fluctuations in the prices of precious metals in the international market. This has also affected the Indian market. Silver, which had touched a record high some time ago, is now continuously slipping.
After falling by ₹3,155 on Monday, the price of silver reached the level of ₹2.17 lakh per kg. Experts believe that profit-booking and weakness in the global market could be the main reasons for this.
gold also became cheaper
Along with silver, gold prices also declined. On Monday, gold became cheaper by ₹ 1,079 per 10 grams. This may provide relief to those customers who are planning to buy gold for marriage or investment.
However, market experts say that global economic developments, movement of the dollar and policies of central banks may affect the prices of gold and silver in the coming days.
Why are prices falling?
According to experts, there is pressure on the prices of precious metals due to change in the strategy of investors in the international market, strengthening of the dollar and profit-booking at the global level. Apart from this, decisions related to international economic indicators and interest rates also have a direct impact on the gold and silver market.
Prices in the Indian market are determined based on global trends as well as import duties, rupee-dollar exchange rate and local demand.
What signals for investors and buyers?
Experts believe that people who have long-term investments can adopt a phased investment strategy by keeping an eye on the market movements. At the same time, the current decline has brought some relief for customers planning to buy jewellery.
However, market volatility is likely to continue. In such a situation, it will be important to keep an eye on the latest prices and market situation before deciding to invest or buy.
At present, this huge fall in both gold and silver has created a stir in the bullion market. Now investors and businessmen will keep their eyes on the trend of the international market and domestic demand in the coming days.
