India Morning News
Nagpur: After touching very high levels in past few days, the prices of gold and silver have now fallen sharply. This drop has brought some relief for people planning to buy jewellery after Diwali.
On Laxmi Pujan day, gold (including GST) was priced around 1,34,400 for 10 grams. Now, it has come down to about 1,31,500, a fall of nearly 4,000.
Silver has also become cheaper by around 8,000, now costing close to 1,50,000 per kg.
According to Bullion Association,
- 24-carat gold costs 1,28,040 for 10 grams (without GST).
- 22-carat gold is 1,17,370 for 10 grams.
- 18-carat gold is 96,030 for 10 grams.
- Silver is 1,50,050 per kg.
Why Did Prices Go Down?
Gold prices often change because of many world events and money market trends.
US Federal Reserve may cut interest rates, which affects global prices.
Gold and silver are traded in US dollars, so if the dollar-rupee value changes, Indian prices also change.
Things like wars, recession, or global tension can push gold prices up or down.
When people feel unsure about the economy, they buy gold as a safe investment. When the market becomes stable again, gold prices usually fall.
