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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