Gold Prices Fall to ₹87,480 – Will It Drop Further
Gold Prices Dip Slightly While Silver Climbs – What’s Next for Investors?
Gold and silver prices experienced mixed movements in early trading on Friday. While gold prices saw a minor dip, silver prices registered a slight increase, signaling an interesting trend for investors.
Gold Prices Drop by ₹10 – Current Rates Across Cities
The price of 24-carat gold fell by ₹10, bringing the cost of 10 grams down to ₹87,480, according to the latest figures from the GoodReturns website. Meanwhile, the price of 22-carat gold also dropped by ₹10, standing at ₹80,190 per 10 grams.
City-Wise Gold Prices (Per 10 Grams)
- Mumbai, Kolkata, Bengaluru, Chennai, Hyderabad – ₹87,480 (24-carat) | ₹80,190 (22-carat)
- Delhi – ₹87,630 (24-carat) | ₹80,340 (22-carat)
Silver Prices Rise by ₹100 – New Rates
Unlike gold, silver prices witnessed an increase of ₹100, taking the price of one kilogram of silver to ₹99,100 in key cities like Delhi, Mumbai, and Kolkata. However, silver prices in Chennai remained significantly higher at ₹1,08,100 per kilogram.
Global Gold and Silver Trends
On the international front, gold prices edged lower but remained on track for a weekly gain, fueled by market uncertainty around US trade policies and upcoming economic data.
- Spot Gold: Down 0.3% at $2,900.48 per ounce
- Spot Silver: Trading steady at $32.60 per ounce
- Platinum: Largely flat at $965.23 per ounce
- Palladium: Fell 0.3% to $939.25 per ounce
Why Are Gold Prices Falling?
Several factors have contributed to the slight decline in gold prices:
- Profit Booking – Investors are cashing in after recent price hikes.
- Global Economic Trends – Anticipation of US non-farm payroll data is influencing price movements.
- US Dollar Strength – A stronger US dollar often puts pressure on gold prices.
Should You Buy Gold Now?
Gold has always been considered a safe-haven investment, especially during market volatility. While the recent dip may be minor, long-term investors may find this a good buying opportunity before prices climb again. Silver, on the other hand, is seeing an uptrend, making it a promising investment for those looking to diversify their portfolio.
With gold prices falling and silver gaining momentum, market watchers should stay updated on global economic trends. If you are considering investing in precious metals, this could be the right time to keep an eye on price movements and make strategic decisions.
