Priyanka Tiwari
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Suspense crime, Digital Desk : Gold and silver investors, take note! Prices for precious metals have taken a significant tumble in India's bullion markets (Sarafa Bazar) today, June 5th. This notable decrease affects various purities of gold and also sees a substantial drop in silver rates.
The Big Picture: How Much Have Prices Fallen?
According to the latest reports:
24-Carat Gold: The price has seen a sharp decrease of ₹4,300 per 100 grams.
22-Carat Gold: This widely used purity is down by ₹4,000 per 100 grams.
18-Carat Gold: Prices for this variant have shed ₹3,300 per 100 grams.
Silver: The white metal hasn't been spared either, with its price falling by a substantial ₹4,500 per kilogram.
What Are the Current Rates? (Approximate figures for June 5th)
Following these drops, here’s a look at the approximate prevailing rates per 10 grams for gold and per kilogram for silver in major Indian cities:
Delhi:
24K Gold: ₹72,370
22K Gold: ₹66,400
Silver: ₹87,500/kg
Mumbai:
24K Gold: ₹72,220
22K Gold: ₹66,250
Silver: ₹87,500/kg
Chennai:
24K Gold: ₹72,970
22K Gold: ₹66,900
Silver: ₹91,000/kg
Kolkata:
24K Gold: ₹72,220
22K Gold: ₹66,250
Silver: ₹87,500/kg
Bengaluru:
24K Gold: ₹72,220
22K Gold: ₹66,250
Silver: ₹87,500/kg
Hyderabad:
24K Gold: ₹72,220
22K Gold: ₹66,250
Silver: ₹91,000/kg
Other Cities (General Trend): Similar drops and prevailing rates are being observed in cities like Ahmedabad, Jaipur, Lucknow, Patna, Chandigarh, and Surat, with minor local variations.
Why the Fluctuation?
Prices in the Sarafa Bazar are dynamic and influenced by a host of factors. These can include international market trends, the strength of the US dollar (as gold is often dollar-denominated), domestic demand (especially during wedding or festive seasons), government policies, and import duties. Today's sharp decline could present a different outlook for both buyers looking to invest and sellers aiming to liquidate.
It's always advisable for consumers and investors to check with local jewelers for the most current rates, as these can vary slightly even within the same city and throughout the day.
