New Delhi: The gold silver price trend turned bearish this week, offering relief to buyers and investors as both precious metals witnessed a significant decline. Gold prices dropped by around ₹1,000, while silver saw a sharper fall of over ₹3,000 amid global economic uncertainty and strong signals from the Federal Reserve.
According to data released by the India Bullion and Jewellers Association, the price of 24-carat gold declined by ₹1,216 over the week. It settled at ₹150,263 per 10 grams, compared to the previous level of ₹151,479.
Gold Prices Across Purity Levels
- 24-carat gold: ₹150,263 per 10 grams (down ₹1,216)
- 22-carat gold: ₹137,641 per 10 grams (down from ₹138,755)
- 18-carat gold: ₹112,697 per 10 grams (down from ₹113,609)
Weekly Highs and Lows
The gold silver price volatility remained high throughout the week. Gold touched its lowest level on April 29, falling to ₹147,973 per 10 grams. On the other hand, the highest level was recorded on April 27 at ₹151,186 per 10 grams.
Silver Prices Also Decline Sharply
Silver followed a similar downward trend, registering a steep fall of ₹3,494. The metal is currently priced at ₹240,331 per kilogram, compared to its earlier level of ₹243,828.
- Weekly low (April 29): ₹236,300 per kg
- Weekly high (April 27): ₹243,720 per kg
Global Factors Impacting Gold Silver Price
On the international front, gold prices have slipped to around $4,585 per ounce, while silver is hovering near $74 per ounce. Market experts attribute this decline in gold silver price to hawkish remarks from the Federal Reserve, which संकेत (signals) continued concern over inflation.
The Fed’s stance has reduced expectations of interest rate cuts in the near future, strengthening the US dollar and putting pressure on gold and silver prices.
Crude Oil and Market Volatility Add Pressure
Analysts also highlight that elevated crude oil prices and ongoing global volatility are further weighing on the gold silver price. Higher oil prices often lead to inflation concerns, prompting tighter monetary policies, which negatively impact non-yielding assets like gold and silver.
What It Means for Investors
The recent fall in gold silver price may present a buying opportunity for long-term investors. However, experts advise caution as global cues, interest rate decisions, and geopolitical developments will continue to influence market direction.