Significant Drop in Gold and Silver Prices, Decrease of Nearly ₹4,900
Gold and silver prices fell sharply, with gold dropping by ₹2,911 and silver by ₹4,860, driven by inflation concerns in the U.S.
New Delhi, November 12 (Daily Kiran) : Prices for gold and silver saw a significant decline on Thursday, with both precious metals dropping by nearly ₹4,900. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold fell by ₹2,911, bringing it down to ₹137,692 per 10 grams from ₹140,603.
Similarly, the price of 22-carat gold decreased from ₹128,792 to ₹126,126 per 10 grams. The cost of 18-carat gold also fell, now priced at ₹103,269 per 10 grams, down from ₹105,452.
Silver prices experienced a similar downturn, dropping by ₹4,860 to reach ₹181,040 per kilogram, down from ₹185,900.
In the futures market, a weakness was also observed for both gold and silver. On the Multi Commodity Exchange (MCX), gold contracts for December 4, 2026, showed a decline of 1.34%, settling at ₹137,846 per 10 grams, while silver contracts dropped by 2.00%, priced at ₹180,830 per kilogram.
International markets reflected this trend as well, with gold prices falling by 1.41% to $3,944.27 per ounce on COMEX, and silver down by 2.13% to $50.88 per ounce.
Experts attribute the decline in gold and silver prices to higher-than-expected inflation in the U.S. for October, which has increased the likelihood of interest rate hikes in December, putting pressure on precious metals.
