The wedding season has started across the country. Gold prices, which were skyrocketing, are now falling. A huge fall in the price of gold has been seen in the last 15 days. Gold has fallen by more than ₹12,000 from its all-time high. Silver prices have also fallen by more than ₹20,000.
Huge fall in the price of gold
The wedding season has started in India. The high price of gold was a matter of concern for people during the wedding season, but now gold prices have started falling. Gold prices have fallen by more than ₹10,000 in the last 15 days. Silver prices have fallen by more than ₹20,000. This is the second consecutive week of falling prices. Last week alone, the price of 24 carat gold has fallen by ₹2,620. If we look at the price of gold today, the gold and silver prices published on the website of India Bullion and Jewelers Association are as follows: While buying a 10 gram gold earring is a struggle, someone who has bought 200 kg of gold in a month has his safe filled with gold.
24 carat to 18 carat gold price
The price of 24 carat gold is ₹119,916 per 10 grams.
The price of 23 carat gold is ₹119,436 per 10 grams.
The price of 22 carat gold is ₹109,843 per 10 grams.
The price of 18 carat gold is ₹89,937 per 10 grams.
Silver prices reached ₹145,800 per kg.
What is the reason for the fall in gold prices?
There are many reasons for the fall in gold and silver prices for the second consecutive week. The first reason is that the continuous strengthening of the US dollar is putting pressure on gold prices, making it cheaper. With geopolitical tensions easing globally, investors are moving money out of gold and into higher yielding assets like the stock market. The third reason is that after the meeting between Trump and Xi Jinping, the possibility of a trade agreement between America and China has increased. The US has shown a positive stance on trade agreements with India, Korea and other countries, which has encouraged investors to move from gold to the market. Meanwhile, interest rate cuts by the Federal Reserve in the US have prompted big investors to invest in bonds.
Will gold be cheaper now?
Market experts have different opinions on this issue. According to experts, in view of the changing global situation in the coming days, with India moving forward on a trade agreement with the US, gold prices may see a decline. Gold may become cheaper. However, this uptrend is expected to continue due to increased demand for gold due to weddings. If you are buying gold for a wedding, you can make the purchase. If you are buying gold for investment, you can take advantage of falling gold prices.
