Gold Price Update: Even before the festive season, gold prices are steadily falling in Indian bullion markets. This is a welcome relief for consumers. Furthermore, silver prices are also falling sharply. It once seemed that gold and silver would remain uncontrolled, but now, the recent decline in prices has brought relief to consumers.
On Thursday, the fourth day of the trading week, 24-carat gold prices fell by Rs 707 to Rs 109,264 per 10 grams, excluding GST. Silver prices also fell by Rs 1,150.
Silver opened lower at Rs 125,563 per 10 grams, excluding GST. Including GST, 24-carat gold prices are ₹112,541 per 10 grams, while silver prices are trending at Rs 129,329 per 10 grams.
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Learn why gold and silver rates are falling.
The decline in gold and silver prices in the Indian bullion market has created confusion among consumers. Everyone wants to know how these rates have fallen so much.
According to Colin Shah, Managing Director of Kama Jewellery, the US Federal Reserve’s 25 basis point cut in interest rates from 4.25% to 4% is proving to be a significant relief for the gems and jewellery industry.
He further explained that given the current uncertainty in trade and the pressure on exports due to the recently imposed tariffs, this decision could provide a significant boost to the industry.
Could prices rise further?
The question now arises as to whether gold and silver prices could rise further. Colin Shah believes that gold prices in India are expected to rise in the future. On the other hand, if the rupee strengthens against the dollar, this price increase could be somewhat controlled.
Furthermore, a decline in US yields could make gold more attractive to investors. This is likely to keep gold and silver prices at elevated levels.