New Delhi, June 13: Gold and silver prices have seen a notable decline this week, with gold becoming cheaper by ₹6,400 and silver by over ₹14,300.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold has decreased by ₹6,438, now standing at ₹1,47,800 per 10 grams, down from ₹1,54,238.
The price of 22-carat gold has also fallen to ₹1,35,385 per 10 grams, previously priced at ₹1,41,282. Meanwhile, 18-carat gold is now at ₹1,10,850 per 10 grams, down from ₹1,15,679.
This week, the lowest price for gold was observed on June 11 during the morning session, at ₹1,44,782 per 10 grams. The highest price was recorded on June 9, reaching ₹1,52,519 per 10 grams. Silver prices have similarly declined.
Silver is now priced at ₹2,42,582 per kilogram, down by ₹14,326 from ₹2,56,908 per kilogram. The lowest price for silver this week was noted on June 11 in the evening session, at ₹2,32,591 per kilogram, while the highest was ₹2,45,938 per kilogram on June 9.
Due to global instability, international gold prices are around $4,248 per ounce, and silver is priced at approximately $68 per ounce.
Experts attribute the decline in gold and silver prices to rising inflation concerns and high crude oil prices due to the ongoing U.S.-Iran conflict. Additionally, the prospect of increasing interest rates has prompted investors to take profits from gold and silver.
Over the past year, both gold and silver have delivered impressive returns, with gold rising over 24% and silver more than 87% in dollar terms.
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