If you woke up today hoping gold and silver would bring some sparkle to your portfolio, the commodity market had a surprise in store. Both metals opened weak, leaving investors and buyers a little disappointed.
Here’s the thing—while gold dipped by more than ₹500 per 10 grams, silver slipped by over ₹2,000 per kilogram. That’s a sharp fall in just a day! But what does it mean for you if you’re planning to buy or invest? Let’s break it down.
Gold Price Today: A Quick Snapshot
At 9:32 a.m. on the Multi Commodity Exchange (MCX), gold was trading at around ₹116,987 per 10 grams, down by nearly ₹600 compared to the previous day.
- Lowest price so far: ₹116,780 per 10 grams
- Highest price so far: ₹117,100 per 10 grams
This shows gold is swinging within a narrow range but leaning downward. If you’re someone waiting for a dip before buying, this could be your window.
Silver Price Update
Silver, on the other hand, didn’t hold up either. The price per kilogram fell by over ₹2,000, making it a tough day for silver investors. On MCX, silver opened with a low of ₹141,961 per kg and a high of ₹143,051 per kg.
Think about it this way: a ₹2,000 swing in silver means if you were planning to buy in bulk for weddings or investment, today’s dip could save you a neat sum.
Gold and Silver Rates in Major Cities
Prices of gold and silver don’t stay the same everywhere. Local taxes, demand, and transportation costs make a difference. Here’s how the rates look across major cities today:
| City | Gold (per 10g) | Silver (per kg) |
|---|---|---|
| Patna | ₹116,870 | ₹142,410 |
| Jaipur | ₹116,970 | ₹142,630 |
| Kanpur | ₹117,020 | ₹142,680 |
| Lucknow | ₹117,020 | ₹142,680 |
| Bhopal | ₹117,110 | ₹142,800 |
| Indore | ₹117,110 | ₹142,800 |
| Chandigarh | ₹116,990 | ₹142,650 |
| Raipur | ₹116,940 | ₹142,590 |
👉 Cheapest gold today: Patna at ₹116,870 per 10 grams
👉 Most expensive gold today: Bhopal & Indore at ₹117,110 per 10 grams
👉 Cheapest silver today: Patna at ₹142,410 per kg
👉 Most expensive silver today: Bhopal & Indore at ₹142,800 per kg
Why Are Prices Falling?
Now, why does gold lose shine and silver slip in a single day? A few key reasons often play a role:
- Global cues: If international prices dip due to a strong US dollar or falling demand, Indian prices usually follow.
- Domestic demand: Festivals and wedding seasons push prices up, while lean seasons keep them subdued.
- Investor mood: Many investors shift between gold, stocks, and currency depending on market risks.
Right now, weaker global sentiment seems to be weighing on both metals.
What Does This Mean for You?
If you’re a jewellery buyer, this fall could be the little bonus you’ve been waiting for. Even a ₹500 drop per 10 grams makes a big difference when buying larger ornaments.
For investors, though, short-term declines aren’t necessarily bad. Gold and silver have always been safe-haven assets. Buying during dips often pays off in the long run.
Think about it: every time gold falls, it sparks the same question—“Should I buy now or wait?” The smarter approach is to spread out your investment instead of timing the exact bottom.
Frequently Asked Questions
1. Why did gold prices fall today?
Gold prices often fall due to global factors like a strong US dollar, falling crude oil prices, or reduced demand from central banks. Domestic demand and investor sentiment also affect the rates.
2. Which city has the cheapest gold today?
Patna has the lowest price today at ₹116,870 per 10 grams. Prices differ slightly from city to city due to taxes and local market trends.
3. Is this a good time to buy silver?
Silver has dropped by over ₹2,000 per kg today. If you’re buying for personal use like weddings or festivals, this dip could be a good opportunity. For investors, silver tends to move in cycles—buying during dips often proves wise over the long term.
This topic is so relevant right now. Thanks for the timely post.