The prices of gold and silver have once again witnessed a dramatic change. While the beginning of the week saw a slight rise in prices, the end of the week brought a sharp decline in both gold and silver as soon as the markets opened. This sudden fall has brought relief to buyers, especially those planning to invest in gold jewelry or silver items.
Fall in Prices on MCX as Well
Even on the Multi Commodity Exchange (MCX), prices have declined. August futures for gold are trading 0.45% lower, while silver futures have dropped by approximately 0.30%. This has directly impacted domestic market rates, with a significant fall in 22 and 24-carat gold prices across major cities.
Latest 22K and 24K Gold Rates in Major Indian Cities
| City | 24K Gold Price (₹) | 22K Gold Price (₹) |
|---|---|---|
| Delhi | ₹97,520 | ₹89,920 |
| Chandigarh | ₹97,850 | ₹89,900 |
| Lucknow | ₹97,980 | ₹90,010 |
| Patna | ₹98,020 | ₹90,080 |
| Hyderabad | ₹97,890 | ₹90,030 |
| Mumbai | ₹97,400 | ₹89,800 |
| Kolkata | ₹97,600 | ₹89,750 |
| Jaipur | ₹97,950 | ₹90,010 |
| Ahmedabad | ₹97,700 | ₹89,880 |
| Bhopal | ₹97,880 | ₹90,020 |
Latest Silver Rates in Major Indian Cities
| City | Silver Price (₹) |
|---|---|
| Delhi | ₹1,10,220 |
| Chandigarh | ₹1,10,880 |
| Mumbai | ₹1,10,950 |
| Hyderabad | ₹1,10,730 |
| Lucknow | ₹1,11,150 |
| Patna | ₹1,11,200 |
| Kolkata | ₹1,10,600 |
| Jaipur | ₹1,11,050 |
| Ahmedabad | ₹1,10,990 |
| Bhopal | ₹1,10,780 |
Is This the Right Time to Buy?
The prices of gold and silver have once again witnessed a dramatic change. While the beginning of the week saw a slight rise in prices, the end of the week brought a sharp decline in both gold and silver as soon as the markets opened. This sudden fall has brought relief to buyers, especially those planning to invest in gold jewelry or silver items.
Fall in Prices on MCX as Well
Even on the Multi Commodity Exchange (MCX), prices have declined. August futures for gold are trading 0.45% lower, while silver futures have dropped by approximately 0.30%. This has directly impacted domestic market rates, with a significant fall in 22 and 24-carat gold prices across major cities.
Experts believe that the current price dip offers a great opportunity for those looking to purchase gold for the upcoming festive season or as an investment. Silver prices are also gradually declining, making this a favorable time for purchasing silver ornaments or utensils.
Why Do Prices Differ Across Cities?
While the Indian Bullion and Jewellers Association (IBJA) provides standard rates, final prices vary by city due to making charges, GST, and dealer margins. Hence, the retail price in one city may differ slightly from another.
Disclaimer: This article is for informational purposes only. Gold and silver prices may vary based on market trends and local conditions. Always confirm the latest rates with your nearest authorized jeweler before making any purchases.