Gold Prices Crash by ₹2,613 in a Day Amid Market Sell-Off; Silver Falls ₹4,535 – Profit Booking Begins After 19% YTD Returns

Mumbai, April 7 In a dramatic turn of events, gold and silver prices plunged sharply on April 7, alongside a steep decline in the Indian stock market. Following a 3000-point dip in key indices, precious metals also came under selling pressure as investors rushed to book profits after significant gains.

According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold fell by ₹2,613, settling at ₹88,401, down from ₹91,014. Silver also witnessed a steep fall, dropping by ₹4,535 per kg to ₹88,375, down from ₹92,910.

Just days earlier, gold hit an all-time high of ₹91,205 on April 3, while silver reached ₹1,00,934 on March 28.

City-Wise Gold Prices (April 7, 2025)

Why Gold Prices Are Falling: Profit Booking Begins

According to Ajay Kedia, Director at Kedia Advisory, gold has already delivered a 19% return in 2025 so far. With the equity markets reeling, investors are liquidating gold positions to offset stock market losses, leading to a short-term decline in gold prices.

“The current fall in gold may continue for a few more days due to continued profit booking,” said Kedia.

Long-Term Outlook Still Bullish on Gold

Despite the pullback, gold continues to receive support from:

• Rising geopolitical tensions

• Increased Gold ETF inflows

• Global economic uncertainties

Analysts believe gold could cross ₹94,000 per 10 grams later in the year as demand strengthens.

Important Tips for Buying Gold

1. Buy Certified Hallmarked Gold Only
   Ensure the gold has a BIS Hallmark with a 6-digit HUID code, confirming its purity and authenticity.

2. Cross-Check Prices Before Buying
   Refer to IBJA rates or multiple sources before making a purchase. Prices vary for 24K, 22K, and 18K gold.

3. Avoid Cash Payments; Always Take a Bill
   Prefer UPI, digital banking, or cards. Always collect a valid invoice. If buying online, verify packaging and certification.