Investors and buyers are witnessing a massive shake-up in the Indian bullion market as precious metal prices continue their downward spiral. Over the last four days, the market has seen a “blood bath,” with silver prices plummeting by a staggering ₹9,600 per kg and gold dropping by more than ₹1,600 per 10 grams. This sudden crash has sparked a wave of curiosity among middle-class buyers and investors who were previously deterred by record-high prices.
Why are Gold and Silver Prices Falling?
Financial experts attribute this sharp decline to a combination of global factors. The primary reasons include a strengthening US Dollar and rising US Treasury yields, which typically make gold less attractive to investors. Additionally, as geopolitical tensions in West Asia show slight signs of stabilizing, the “safe-haven” demand for gold has eased, leading to heavy profit-booking by large-scale investors.
Latest Gold Rates Today: 24K and 22K Breakdown
As of today, April 24, 2026, the domestic market reflects a significant correction. In major cities like Delhi, Mumbai, and Lucknow, the price for 24-carat gold (99.9% purity) is now hovering around ₹1,51,430 to ₹1,52,950 per 10 gramsdepending on local taxes and octroi.
Meanwhile, 22-carat goldwhich is primarily used for making jewelry, is being traded at approximately ₹1,38,770 to ₹1,40,200 per 10 grams. This drop of over ₹1,600 in such a short window is being viewed as a rare “buying window” for those with upcoming weddings or long-term investment plans.
Silver Prices Take a Massive Hit
Silver has faced a much harsher correction than gold. After touching historic highs recently, it has fallen by nearly ₹9,600 per kg in the last 96 hours. Today, the price of 999 fine silver stands at approximately ₹2,41,345 to ₹2,50,000 per kg. In industrial cities and major bullion hubs, the pressure of selling remains high, making it significantly cheaper for those looking to purchase silver utensils or ornaments.
City-Wise Rates for April 24, 2026
Prices vary slightly across India due to logistics and state-level levies. Here is a quick snapshot of 24K gold rates per 10 grams in key cities:
Delhi: ₹1,53,100
Mumbai: ₹1,52,950
Lucknow: ₹1,49,120
Chennai: ₹1,53,820
If you are planning to buy, experts suggest keeping a close watch on the MCX (Multi Commodity Exchange) trends, as the market remains volatile and further minor corrections could occur before prices stabilize again.
Read More: Gold and Silver Prices Crash Silver Dips by 9,600, Gold Falls Over 1,600 in Just 4 Days
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