Gold Price Falls to ₹95,510/10g in Major Cities, Silver Holds at ₹99,900/kg; Should You Buy Now

Check gold and silver prices across India

Unexpectedly, gold prices in major Indian centres have fallen, giving some respite to buyers and investors. The 24-karat gold price is ₹95,510 for ten grams; the prices of 22-karat and 18-karat gold are ₹87,550 and ₹71,640 for the same weight, respectively. Buyers are taking advantage of the opportunity brought on by this price dip, with the wedding and festival season around the corner. While the prices of silver remain stable in the range of ₹99,900 per kilogram, it does fluctuate slightly across regions. The recent price behaviour of gold seems to be in keeping with this gradual appreciation trend, which global macroeconomic factors like volatility and inflation have bolstered.

The Dip in Gold Prices: A Blissful Break

Gold has forever been a great hedge against inflation, and both consumers and investors still remain interested in it, notwithstanding the current turbulence of international markets. However slight, the recent price dip for gold has been a small breather after something of a long stretch of ups. Industry observers indicate that this decline is probably a correction to the highs that have come before, making it an attractive time to buy jewellery as well as to invest in the yellow metal.

Gold prices being high relative to historical averages, a price drop could actually spur demand, especially ahead of the upcoming wedding season that tends to fuel gold consumption in India.

Why Are Prices of Gold Rising and Falling

All the factors related to the price of gold within the world economy. The last few years have witnessed a consistent price hike for yellow metal fuelled by strong inflation, tension between countries, as well as movement in the stock markets. If the stock market is unstable or if inflation goes up, gold is usually perceived as a "safe-haven" investment.

But prices do not go up straight. They adjust according to moving economic conditions such as changes in currency values and interest rates. In this case, the current price drop can be explained as a temporary readjustment with analysts expecting an even keel to slightly ascending trend in the next few months, particularly considering that global economic uncertainties continue.

Verifying Gold Purity: Getting Worth for Money

For investors who desire to invest in gold, ascertaining the purity of the gold is key. Gold is quantified by karats (K), where 24-karat gold has the highest level of purity. The purity grade in gold ornaments is typically stamped by the karat rating or the hallmark seal. One of the most widely used ways to test the purity of gold is through an acid test, whereby a small amount of metal is subjected to a specific acid solution to tell whether it’s genuine or not. It’s essential for customers to ensure that they purchase the gold from certified and well-known sellers in order to prevent falling prey to fake or poor-quality gold.

Silver Prices Remain Stable

In contrast to gold, silver has been less volatile. Silver’s price today is stable at ₹99,900 per kilogram in major cities. Whether in Delhi, Mumbai, Chennai, or Hyderabad, the price of silver per gram is the same, with small variations seen in some cities. Silver, usually considered a substitute for gold as an investment, still remains a stable asset for those looking to diversify their portfolios.

Gold and Silver Prices in India

Source: GoodReturns

Disclaimer: Prices are indicative and may vary slightly based on location and seller

Conclusion

Given that the price of gold is anticipated to continue its upward trend, analysts see the recent decline in gold prices as simply a temporary breathing room, taking into account the factors that influence the global economy. Should an investor consider investing in gold during the upcoming weeks, this fall could provide an excellent opportunity. Silver, meanwhile, stays a trusted option for investors. As always, buyers are advised to check for the purity of the gold before making a purchase, with a view to safeguarding their investment.