Amid the festive season, gold prices in the Indian market have continued to decline, bringing significant relief to customers and jewellery buyers. Gold rates have been falling consistently for the past four days in the domestic market, making it a favourable time for those planning to purchase the precious metal.
The price of 24-carat pure gold, which was Rs 14,968 per gram on October 12, dropped to Rs 14,744 per gram by October 15, marking a total decline of Rs 224 per gram. Similarly, the price of 22-carat gold fell by Rs 205 per gram to reach Rs 13,515 per gram.
According to the latest prices, the cost of 10 grams of 24-carat gold has declined by Rs 820 to Rs 1,47,440, while the price of 100 grams of 24-carat gold has dropped by Rs 8,200 to Rs 14,74,400.
Meanwhile, 10 grams of 22-carat gold, commonly used for jewellery making, has become cheaper by Rs 750, reaching Rs 1,35,150. The price of 10 grams of 18-carat gold has also declined by Rs 610 and is now available at Rs 1,10,580.
Gold prices remain largely similar across major metropolitan cities, including Bengaluru, Chennai, Hyderabad, and Mumbai. Silver prices have also witnessed a decline, with the price of one kilogram of silver falling by Rs 5,000 to Rs 2,30,000.
The decline in domestic gold prices has been influenced by global market trends, including falling crude oil prices and expectations surrounding the US Federal Reserve’s interest rate decisions.
