Gold Rate Drop Today (June 11): Gold prices in bullion markets have dropped significantly today, Thursday. Prices for both gold and silver have been declining over the past two days; however, silver prices saw a slight increase on June 11. According to the Indian Bullion and Jewellers Association (IBJA), the price of 24-carat gold fell by ₹1,562 to reach ₹145,584, while the price of silver rose by ₹257 to reach ₹235,540. Additionally, sharp declines have been recorded in gold rates across purities ranging from 23-carat to 14-carat.
Overall, gold has become cheaper by ₹10,879 in June. The price of 24-carat gold dropped from ₹156,463 to ₹145,584 per 10 grams. Meanwhile, the price of silver fell from ₹263,946 per kilogram to ₹233,540—a reduction of ₹30,406.
If you are planning to buy gold for a wedding or for investment purposes, it is advisable to first check the latest rates for gold ranging from 23-carat to 14-carat purity.
24-Carat Gold Rate
According to the latest rates released by the IBJA on June 11, the price of 24-carat gold fell by ₹1,562 to reach ₹145,584.
23-Carat Gold
According to the IBJA, the price of 23-carat gold dropped by ₹1,556 today, settling at ₹145,001 per 10 grams.
22-Carat Gold
According to the IBJA, the price of 22-carat gold dropped by ₹1,431 today, settling at ₹133,355 per 10 grams. 18-Carat Gold
According to the IBJA, the price of 18-carat gold has fallen by ₹1,172 to stand at ₹1,09,188 per 10 grams today.
14-Carat Gold
As for 14-carat gold, the price has dropped by ₹913 to ₹85,167 per 10 grams.
Please note that the gold and silver rates released by the IBJA today do not include GST.
What was the impact of PM Modi’s appeal?
PM Modi had appealed to the people of India not to buy gold for one year. Despite this, crowds of gold jewellery buyers are still being seen at jewellery shops. Demand has also declined because it is not the wedding season. Prior to PM Modi’s appeal, the gold rate was ₹1,51,078, whereas today it stands at ₹1,45,584 per tola. Regarding silver, the price has dropped from ₹2,55,600 per kilogram to ₹2,20,600 per kilogram.
