Gold prices remained under pressure on Saturday, giving buyers a slight respite after recent highs. According to the latest bullion rates, 24-carat gold is priced at ₹1,44,330 per 10 grams, while 22-carat gold costs ₹1,32,300 per 10 grams. Silver is trading at ₹2,40,100 per kilogram, with prices also witnessing a mild correction.
The latest decline follows a week of sharp movements in precious metal prices. Market experts say changing global economic conditions, a stronger US dollar and expectations over future interest rate decisions by the US Federal Reserve have influenced investor sentiment, leading to fluctuations in gold and silver prices.
Gold continues to remain a preferred investment during periods of uncertainty, but its prices have become more volatile in recent weeks. International developments, including geopolitical tensions and movements in global financial markets, are also impacting domestic bullion prices.
Rates vary slightly across cities because of local taxes and transportation costs. In addition to the market price, buyers purchasing jewellery will have to pay GST and making charges, which differ from one jeweller to another.
Silver has also mirrored global trends. Apart from investment demand, the metal is widely used in industries such as electronics, solar energy and electric vehicles. Changes in industrial demand often influence silver prices, making them more volatile than gold.
Jewellers say the latest correction has encouraged enquiries from customers planning purchases for weddings and upcoming festive occasions. However, many buyers are still waiting to see if prices fall further before making large purchases.
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