Gold Silver Price Crash: The beginning of April has brought big relief for the Indian bullion market. Gold prices registered a big fall twice in a single day, which has brought cheer to the faces of jewelery buyers. Experts believe that amid global instability and the US-Iran crisis, this phase of falling prices may continue in the coming days.
Prices fell twice in a day, buyers went crazy
On April 2, gold prices saw a decline in two phases, morning and evening. While there was a surge in prices on April 1, the market trend completely changed the very next day. In the morning fall, the price of 22 carat gold fell by Rs 800 per 10 grams to Rs 1,11,600. But the real bomb hit in the evening, when there was another big price cut of Rs 1600. With this the price reached the level of Rs 1,10,000 per 10 grams.
Heavy fall in 18 carat gold and silver also
Heavy softening has also been observed in 18 carat gold. By evening its price fell by Rs 1,440 per 10 grams to Rs 91,640. This week was also full of relief for silver lovers. A huge fall of Rs 10,000 per kg has been recorded in the prices of silver. At present the price of silver remains stable at Rs 2,55,000 per kg and Rs 255 per gram.
Key table of price changes (April 2)
| Purity (Gold Type) | Morning price (per 10 grams) | Evening price (per 10 grams) | total decline |
| 22 carat | ₹1,11,600 | ₹1,10,000 | – ₹2,400 |
| 18 carat | ₹93,080 | ₹91,640 | – ₹2,040 |
| Silver | ₹2,55,000 (per kg) | ₹2,55,000 (Fixed) | – ₹10,000 |
Why did gold suddenly become cheaper?
According to market experts, the growing geopolitical crisis between America and Iran is affecting the international market. Although we saw a historic rise in gold prices in the month of March, the early trends of April are telling something else. Experts say that investors are now moving very cautiously in the market, due to which correction is being seen in prices in the domestic market.
Comments are closed.