Precious metals witnessed a sharp decline this Thursday, offering significant relief to buyers following a recent price surge. 24-carat gold plummeted by ₹5,020, bringing the rate down to ₹1,54,420 per 10 grams. Retail buyers now face a rate of ₹15,442 per gram.
Similarly, 22-carat gold saw a dip of ₹4,600, settling at ₹1,41,550 per 10 grams. The silver market was not spared, as prices crashed by a staggering ₹20,000, bringing the cost of one kilogram of silver to ₹3,00,000.
This sudden downturn follows a period of record highs, where 24-carat gold had previously peaked at ₹1,60,530. Market analysts suggest this volatility stems from shifting global economic cues and a correction after the recent bullish run. For investors, today marks a strategic window as the metal loses its recent gains.