Gold and silver prices are known to fluctuate daily, influenced by global market trends. On Monday, December 23, 2024, the bullion market witnessed a sharp decline in prices, leaving both investors and buyers cautious about their purchases. The price of 10 grams of 22-carat gold stood at Rs. 70,990, while 24-carat gold was priced at Rs. 77,440. Silver, too, saw a dip, with the price of one kilogram of silver being Rs. 91,400.

Gold Price Decline Across Major Cities

Here’s a look at the current gold prices in some of the major cities across the country:

• Hyderabad: 22-carat gold at Rs. 70,990, 24-carat gold at Rs. 77,440
• Visakhapatnam & Vijayawada: 22-carat gold at Rs. 70,990, 24-carat gold at Rs. 77,440
• Delhi: 22-carat gold at Rs. 71,140, 24-carat gold at Rs. 77,590
• Mumbai: 22-carat gold at Rs. 70,990, 24-carat gold at Rs. 77,440
• Chennai: 22-carat gold at Rs. 70,990, 24-carat gold at Rs. 77,440
• Bangalore: 22-carat gold at Rs. 70,990, 24-carat gold at Rs. 77,440

Silver Price Trends

Silver prices are also showing a downward trend, with the cost of one kilogram of silver recorded as follows:

• Hyderabad, Vijayawada, Visakhapatnam: Rs. 98,900 per kg
• Delhi, Mumbai, Bengaluru: Rs. 91,400 per kg
• Chennai: Rs. 98,900 per kg

Why Do Prices Fluctuate?

The price of gold and silver is subject to constant changes due to various factors, including international demand, market conditions, and global economic factors. Prices often rise when there is high demand or geopolitical instability, while they decrease when there is a stabilization in the market.

What Does This Mean for Buyers?

If you’re looking to buy gold or silver, this recent drop in prices could be a good opportunity. However, it’s always recommended to keep an eye on the market trends before making a purchase, as rates can change quickly.

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Latest Gold Prices:

According to updates available till 6 AM:

• 22-Carat Gold: ₹70,390 (10 grams), a drop of ₹610.
• 24-Carat Gold: ₹76,790 (10 grams), a drop of ₹660.

Latest Silver Prices:

• Silver per Kilogram: ₹99,000.

City-Wise Gold Rates (Per 10 Grams):

• Hyderabad:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Visakhapatnam & Vijayawada:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Delhi:
  • 22-Carat: ₹71,150
  • 24-Carat: ₹77,600
• Mumbai:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Chennai:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450
• Bangalore:
  • 22-Carat: ₹71,000
  • 24-Carat: ₹77,450

City-Wise Silver Rates (Per Kilogram):

• Hyderabad, Visakhapatnam & Vijayawada: ₹99,000
• Delhi, Mumbai & Bengaluru: ₹91,500
• Chennai: ₹99,000

These prices were listed on various websites as of 6 AM Sunday. Prices may vary based on location and market conditions.

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Gold prices have experienced significant fluctuations, particularly since the tenure of former US President Donald Trump. Recent trends have shown a steep decline in gold prices, largely due to the actions of the US Federal Reserve and the global economic impacts of Trump’s policies. As gold and silver markets continue to react, here’s a detailed look at how the prices of precious metals have evolved and the current rates in major cities across India.

Gold Prices Take a Hit

Gold prices, which have been on a rollercoaster ride, took another dip recently. After the US Federal Reserve cut interest rates, the value of gold has been negatively impacted, with prices dropping significantly in the past few days. Here’s a breakdown of the latest gold rates:

22 Carat Gold Price:

• Delhi: Rs. 72,340
• Mumbai: Rs. 72,190
• Kolkata: Rs. 72,190
• Bangalore: Rs. 72,190
• Chennai: Rs. 72,190
• Hyderabad: Rs. 72,190
• Visakhapatnam: Rs. 72,190
• Vijayawada: Rs. 72,190

24 Carat Gold Price:

• Hyderabad: Rs. 78,750
• Visakhapatnam: Rs. 78,750
• Vijayawada: Rs. 78,750
• Delhi: Rs. 72,340
• Mumbai: Rs. 72,190
• Kolkata: Rs. 72,190
• Bangalore: Rs. 72,190
• Chennai: Rs. 72,190

As you can see, there’s a uniform price for 22-carat and 24-carat gold in cities like Hyderabad, Visakhapatnam, and Vijayawada, while Delhi reflects a higher rate for 22-carat gold.

Silver Prices Follow the Downtrend

Silver, which tends to follow the trend of gold, has also experienced a drop in the last few days. Silver prices have decreased by about Rs. 1,100 per kilogram recently. Below are the current silver prices in key Indian cities:

• Hyderabad: Rs. 1,01,900 per kilogram
• Bengaluru: Rs. 92,900 per kilogram
• Kolkata: Rs. 92,900 per kilogram
• Delhi: Rs. 92,900 per kilogram
• Mumbai: Rs. 92,900 per kilogram
• Chennai: Rs. 1,01,900 per kilogram

With silver prices in Hyderabad and Chennai crossing the one-lakh mark, the trend is becoming more noticeable across major cities.

Conclusion:

The ongoing fluctuations in the gold and silver markets are a direct response to the economic shifts occurring globally. While gold and silver prices have experienced a decline, they remain an important part of many investors’ portfolios. As the markets continue to react to global financial changes, the prices of these precious metals will likely keep fluctuating.

For now, if you’re looking to purchase gold or silver, the rates across cities like Hyderabad, Mumbai, Delhi, and Chennai remain relatively stable, but closely tracking these changes will be key for any potential investments.

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