Gold Prices Drop Slightly; 24K, 22K, and 18K Rates Decline
Gold prices have seen a slight decrease recently, with both domestic and international markets experiencing reductions. The decline follows a period of high prices and is attributed to geopolitical tensions between the US and Iran. Regional variations in gold rates across major cities such as Delhi, Mumbai, Kolkata, Hyderabad, and Bangalore are reported.
Highlights
- •Gold Prices Slump from Record Highs
- •Domestic Gold Rates Down by ₹55,000
- •Silver Prices Drop 2% Internationally
- •Higher Gold Prices in Major Cities
Gold and silver prices have seen a slight decrease recently, bringing the market back to reality after reaching record highs. According to the Multi Commodity Exchange (MCX), gold has slipped by approximately ₹55,000 from its all-time high and is trading at around ₹144,100 per 10 grams today. This follows a decline of about 1.38% on the international front where the price fell to $4,462 per ounce due to tensions between the US and Iran.
Local Market Trends
In the local market, silver prices also showed a dip with an approximately 2% decline, closing at $68.3 per ounce. The MCX contract for June 5th expiry witnessed a fall of ₹868 and is currently trading at ₹146,387 per 10 grams. There have been some fluctuations but no significant changes in the pricing structure at the end of last week, with the rate closing slightly higher at ₹147,270 per 10 grams.
The India Bullion and Jewellers Association (IBJA) reported that gold prices saw an uptick on March 30th. 24-carat gold increased by ₹3,000 to reach ₹146,000 per 10 grams in the wholesale market. Meanwhile, silver showed a more modest increase with a ₹53 rise to ₹2,287,000 per kg.
Here are some regional gold prices for various carats per gram as reported by HeadlineDock:
- Delhi: 24-Carat Gold - ₹14,986; 22-Carat Gold - ₹13,727; 18-Carat Gold - ₹11,240
- Hyderabad: 24-Carat Gold - ₹15,016; 22-Carat Gold - ₹13,754; 18-Carat Gold - ₹11,262
- Kolkata: 24-Carat Gold - ₹14,942; 22-Carat Gold - ₹13,686; 18-Carat Gold - ₹11,206
- Pune: 24-Carat Gold - ₹14,971; 22-Carat Gold - ₹13,714; 18-Carat Gold - ₹11,228
- Vijayawada: 24-Carat Gold - ₹14,897; 22-Carat Gold - ₹13,646; 18-Carat Gold - ₹11,173
- Ahmedabad: 24-Carat Gold - ₹14,882; 22-Carat Gold - ₹13,632; 18-Carat Gold - ₹11,162
- Bangalore: 24-Carat Gold - ₹15,001; 22-Carat Gold - ₹13,741; 18-Carat Gold - ₹11,251
- Chennai: 24-Carat Gold - ₹14,971; 22-Carat Gold - ₹13,714; 18-Carat Gold - ₹11,228
- Mumbai: 24-Carat Gold - ₹15,045; 22-Carat Gold - ₹13,782; 18-Carat Gold - ₹11,284
