Gold becomes cheaper by more than ?11,000 in one week, silver prices also drop

(Fast Mail):-- Gold and silver price witnessed a significant decline this week, making gold and silver cheaper by more than ?11,000 and ?28,000 respectively.

According to the India Bullion and Jewellers Association (IBJA), the price of gold fell by ?11,181 over the past week to ?1,47,218 per 10 grams, down from the previous level of ?1,58,399.The price of 22-carat gold has decreased to ?1,34,852 per 10 grams, which was previously ?1,45,093 per 10 grams.

The price of 18-carat gold has dropped to ?1,10,414 per 10 grams, compared to ?1,18,799 per 10 grams earlier.

Along with gold, silver prices also saw a major decline.Silver prices fell by ?28,124 to ?2,32,364 per kilogram, down from ?2,60,488 per kilogram previously.

Internationally, the past week was the worst for gold in 15 years, with a 9.6% drop in gold prices—the largest weekly decline since September 2011.

On COMEX, gold prices fell to $4,574.90 per ounce, compared to $5,061.70 per ounce a week earlier.Silver experienced a similar situation, with a drop of more than 14% in the past week.

On COMEX, silver prices decreased to $69.66 per ounce, down from $81.343 per ounce earlier.

According to experts, the decline in gold and silver prices is due to profit booking and a strengthening dollar, causing investors to shift from precious metals to other investment instruments.

Related Business News

Gold and Silver Prices Decline, Know the New Rates

Gold and silver prices are witnessing continuous fluctuations. On Monday, as soon as the commodity market (MCX) opened, a slight decline was recorded in gold and silver prices.On MCX, the Gold June 5, 2026 contract opened at ?1,52,695 compared to the previous close of ?1,52,699. The Silver May....

Wholesale Inflation Rises to 3.88% in March; Oil and Metals Become Costlier, Sharp Surge in Jewellery Prices

The Wholesale Price Index (WPI)-based inflation rate rose to 3.88 percent in March, up from 2.13 percent in February,the Ministry of Commerce and Industry said on Wednesday. The rise in wholesale inflation in March was primarily driven by an increase in prices of crude petroleum and natural ga....

‘We Will Not Allow China to Buy Iranian Oil’: US Treasury Secretary Scott Bessent

Amid ongoing tensions in the Middle East, the United States has taken a tough stance on China, making it clear that it will not allow Beijing to purchase oil from Iran. US Treasury Secretary Scott Bessent said that the proposed blockade will ensure that no Chinese or other ships can pass throu....

Economy News: Stock market falls and gold-silver prices drop after US-Iran talks fail

Local stock markets witnessed a decline on Monday. The BSE Sensex fell by 703 points, while the NSE Nifty dropped 208 points. The failure of talks between the US and Iran for an agreement, along with fears that the conflict may continue for a long time, caused crude oil prices to rise sharply,....

LPG Crisis Deepens Amid War; Opposition Targets Government Over Black Marketing

NEW DELHI: As the US-Israel-Iran conflict enters its fourth week, the deepening energy crisis is severely affecting households across the country, leading to a growing shortage of cooking gas. Complaints about LPG shortages and rising black marketing have intensified political confrontations an....