Gold and silver prices fall sharply this week, with silver dropping over ₹14,000. Check latest gold-silver rates and reasons behind the crash.
The domestic bullion market witnessed a sharp decline in gold and silver prices this week, marking a significant correction after recent highs. The Gold Silver Price Crash has led to a drop of over ₹6,400 in gold prices and more than ₹14,000 in silver rates, impacting investors and traders across India.
According to data released by the India Bullion and Jewellers Association (IBJA), both precious metals saw consistent downward movement during the week due to global market pressure and profit-taking activities.
Gold Prices Fall Sharply This Week
As per IBJA, the price of 24-carat gold declined by ₹6,438, settling at ₹1,47,800 per 10 grams, compared to the previous level of ₹1,54,238.
Other categories also reflected the downward trend:
22-carat gold: ₹1,35,385 per 10 grams
18-carat gold: ₹1,10,850 per 10 grams
During the week, gold touched a low of ₹1,44,782 per 10 grams on June 11 morning session, while the highest level was recorded at ₹1,52,519 per 10 grams on June 9.
The ongoing Gold Silver Price Crash has raised concerns among short-term investors, although long-term trends remain relatively stable.
also read:- Gold Price Today: Gold Becomes Cheaper Again, 24K And 22K…
Silver Sees Even Steeper Decline
Silver prices witnessed a sharper correction compared to gold. The metal fell by ₹14,326, bringing the rate down to ₹2,42,582 per kilogram from ₹2,56,908 earlier.
Weekly fluctuations showed a low of ₹2,32,591 per kilogram on June 11 evening session, while the highest level stood at ₹2,45,938 per kilogram on June 9.
The intensity of the Gold Silver Price Crash in silver has been more pronounced due to higher volatility in industrial demand and global cues.
Global Market Pressure Behind the Decline
Internationally, gold is currently trading near $4,248 per ounce, while silver is hovering around $68 per ounce. Market experts attribute the decline to multiple global factors, including geopolitical tensions and inflation expectations.
Why Gold and Silver Prices Are Falling
Analysts suggest several key reasons behind the Gold Silver Price Crash:
Rising inflation concerns and interest rate uncertainty
Geopolitical tensions, including US-Iran related developments
Higher crude oil prices impacting global markets
Strong profit booking after recent record gains
Investors locking in profits after a strong yearly rally
Over the past year, gold has delivered returns of over 24% in dollar terms, while silver has surged nearly 87%, prompting significant profit-taking.
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