Gold Price Drop: Daily fluctuations are being observed in gold and silver prices; gold prices are constantly shifting between highs and lows. If you are considering purchasing gold jewellery during Navratri, this is a great opportunity. A drop in gold rates was recorded on October 12. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold fell by ₹1,005 to reach ₹1.48 lakh.
As for silver, the price of one kilogram dropped by ₹235 to settle at ₹2.21 lakh. Apart from the IBJA, gold has also become significantly cheaper on the Multi Commodity Exchange (MCX); the price has dropped by more than ₹1,400 per 10 grams in a single move. The price of one kilogram of silver has also fallen, dropping below the ₹2.25 lakh mark. Let’s take a look at the latest gold prices:
24-Carat Gold Rate
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold fell by ₹1,005 to reach ₹1.48 lakh.
23-Carat Gold Rate
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 23-carat gold dropped to ₹147,831.
22-Carat Gold Rate
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 22-carat gold dropped to ₹135,957.
18-Carat Gold Rate
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 18-carat gold dropped to ₹111,319.
14-Carat Gold Rate
According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 14-carat gold has dropped to ₹86,829.
Silver Price
According to the India Bullion and Jewellers Association (IBJA), the price of one kilogram of silver has fallen by ₹235 to stand at ₹220,874.
Silver Now ₹1.95 Lakh Cheaper Than Its Peak
In futures trading, the price of 1 kg of silver has dropped significantly from its all-time high. In the last week of January, the price had crossed the historic ₹4 lakh mark for the first time. Currently, silver is available at a price of ₹195,722 per kilogram, lower than its peak.
How Much Has the Gold Price Dropped?
The rate for 10 grams of gold on the MCX, which was ₹155,484 on August 31, fell to ₹149,036 by September 30. Despite a decline on Monday, it was trading at ₹150,056, driven by the rally seen in October.