Gold rates in India continued their downward trend for the fourth consecutive session, witnessing a sharp and sustained decline in the latest trading session.
The yellow metal, typically considered a safe-haven asset, came under heavy selling pressure as global cues remained volatile, the US dollar strengthened and investors reassessed their positions following recent geopolitical developments and the US Federal Reserve’s policy stance.
Drop in Gold Rates By Rs 36,000 In Just 3 Days Amid US Fed Policy Decision
Over the past three days alone, gold has seen a steep correction of nearly Rs 36,000 per 100 grams in the 24K segment, eroding recent gains at a rapid pace.
Gold Rate in India: Check Latest 22K, 24K & 18K Gold Prices Per Gram
24 Karat Gold Rate Today in India
In the latest session, 24 Karat gold prices fell by Rs 49 per gram to Rs 15,044, compared to Rs 15,093 in the previous session. On a broader scale, 8 grams of 24K gold stood at Rs 1,20,352, down by Rs 392, while 10 grams were priced at Rs 1,50,440, marking a decline of Rs 490. For bulk buyers, the 100-gram rate dropped to Rs 15,04,400, reflecting a fall of Rs 4,900 in a single session.
22K Gold Rate Today in India
The 22 Karat gold segment also remained under pressure. Prices declined by Rs 45 per gram to Rs 13,790, compared to Rs 13,835 previously. The price for 8 grams slipped to Rs 1,10,320, down by Rs 360, while 10 grams were valued at Rs 1,37,900, registering a drop of Rs 450. Meanwhile, the 100-gram price fell to Rs 13,79,000, down by Rs 4,500.
18K Gold Price Today in India
Similarly, 18 Karat gold recorded a decline of Rs 37 per gram, bringing the price to Rs 11,283 from Rs 11,320. The cost of 8 grams stood at Rs 90,264, down by Rs 296, while 10 grams were priced at Rs 1,12,830, showing a fall of Rs 370. On a larger scale, 100 grams of 18K gold dropped to Rs 11,28,300, reflecting a decrease of Rs 3,700.
Gold Rate Outlook Ahead After Federal Reserve Policy Stance
“Gold and silver slipped to one-month lows amid stalled US-Iran talks and the Strait of Hormuz closure, which has severed roughly 20% of global oil supply – the largest supply shock on record per the IEA. Rising energy costs, a stronger dollar, and firm inflation expectations are compounding headwinds for precious metals,” said Mr. Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd.