Gold Price Crash: Gold and silver prices have fallen today, June 10, due to rising tensions in the Middle East. On the Multi Commodity Exchange (MCX), a drop of approximately ₹2,500 per 10 grams has been recorded for both gold and silver. Similarly, rates released by the India Bullion and Jewellers Association (IBJA) show a significant decline in gold prices; the price of 24-carat gold has fallen by ₹4,090 to reach ₹1,48,429 per 10 grams.
Regarding silver, prices on the MCX have dropped by ₹4,500, while the IBJA rate for 1 kg of silver has decreased by ₹9,658 to stand at ₹2,36,280. This presents an excellent opportunity for those looking to purchase gold and silver.
On May 31, the price of silver was recorded at ₹2.63 lakh; this means it has become cheaper by ₹27,000 in just 10 days. Meanwhile, the price of gold has dropped by ₹8,000 over the same period. Experts state that due to geopolitical tensions, people are withdrawing money from the market and holding onto cash.
Gold prices by carat
24 Carat – ₹1,48,429 per 10 grams
22 Carat – ₹1,35,961 per 10 grams
18 Carat – ₹1,11,322 per 10 grams
14 Carat – ₹86,831 per 10 grams
24 Carat Gold Rate
According to the IBJA, the price of 24-carat (999 purity) gold has fallen by ₹4,090 to reach ₹1,48,429 per 10 grams.
23 Carat Gold Rate
According to the IBJA, the price of 23-carat (995 purity) gold has fallen by ₹4,073 to reach ₹1,47,835 per 10 grams.
22 Carat Gold Rate
According to the IBJA, the price of 22-carat (916 purity) gold has fallen by ₹3,746 to reach ₹1,35,961 per 10 grams.
18 Carat Gold Rate
According to the IBJA, the price of 18-carat (750 purity) gold has fallen by ₹3,067 to reach ₹1,11,322 per 10 grams.
14 Carat Gold Rate
According to the IBJA, the price of 14-carat (585 purity) gold has fallen by ₹2,393 to reach ₹1,11,322 per 10 grams.
Silver Price
According to the IBJA, the price of 999-purity silver has dropped by ₹9,658 to reach ₹2,36,280 per kilogram.
Please note that the gold rates issued by the India Bullion and Jewellers Association (IBJA) are exclusive of GST; prices increase once GST is added. Additionally, charges are applied separately when crafting gold jewellery.