New Delhi, September 5 (Daily Kiran) : Gold and silver prices experienced a notable decline this week, with gold dropping by over ₹4,000 and silver by more than ₹8,000. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold fell by ₹4,694, bringing it to ₹1,54,884 per 10 grams, down from ₹1,59,578.
The price for 22-carat gold also decreased, now standing at ₹1,41,874 per 10 grams, down from ₹1,46,173. Similarly, 18-carat gold is now priced at ₹1,16,163 per 10 grams, a drop from ₹1,19,684.
This week, the lowest price for 24-carat gold was recorded at ₹1,51,184 per 10 grams during the evening session on September 2, while the highest was ₹1,55,835 per 10 grams on August 31.
Silver prices followed suit, declining by ₹8,436 to ₹2,35,456 per kilogram, down from ₹2,43,892. The highest silver price this week was observed at ₹2,37,199 per kilogram on August 31, with the lowest at ₹2,28,360 per kilogram during the morning session on September 3.
IBJA releases gold and silver prices twice daily, in the morning and evening. Internationally, gold was priced around $4,500 per ounce, while silver was approximately $66 per ounce.
Experts attribute the drop in gold and silver prices to escalating tensions between the U.S. and Iran. Continuous attacks by the U.S. on Iran, coupled with Iran targeting U.S. bases in the Middle East, have strengthened bond yields, the dollar, and crude oil prices.
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