Gold prices witnessed a sharp decline today (Thursday), offering temporary relief to buyers after the recent record-breaking surge. The price of gold fell by ₹4,640 per sovereign, while silver prices dropped by ₹20,000 per kilogram.
Over the past few weeks, gold prices have been rising at an unprecedented pace, with one sovereign crossing the ₹1 lakh mark. Daily price fluctuations running into thousands of rupees have been reported in the bullion market. Notably, on January 29, gold prices surged by a massive ₹9,520 per sovereign in a single day. After a brief dip, prices had increased again over the last two days before today’s correction.
Gold Price Today
One sovereign (8 grams): ₹1,14,560 (down by ₹4,640)
One gram of gold: ₹14,320 (down by ₹580)
Silver Price Today
Silver per gram: ₹300 (down by ₹20)
Silver per kilogram: ₹3,00,000 (down by ₹20,000)
Market experts say the decline comes after extreme volatility and profit booking in international and domestic bullion markets. Buyers are advised to closely monitor price movements as fluctuations are expected to continue.
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