SRINAGAR: Gold prices in India witnessed a sharp decline on Monday, with 24-karat gold prices plunging by ₹3,380 per 10 grams, marking the steepest single-day fall in several weeks despite escalating tensions in the Middle East.According to market data, the price of 24K gold dropped from ₹1,56,100 to ₹1,52,720 per 10 grams. Similarly, 22-karat gold fell by ₹3,100 to ₹1,39,990 per 10 grams, while 18-karat gold prices declined by ₹2,530 to ₹1,14,540 per 10 grams.On a per-gram basis, 24K gold was priced at ₹15,272, 22K gold at ₹13,999 and 18K gold at ₹11,454.Gold Rates Fall Despite Israel-Iran ConflictThe sharp correction in gold rates came even as geopolitical tensions intensified in the Middle East following fresh military exchanges between Israel and Iran. Reports indicated renewed strikes and missile attacks over the weekend, raising concerns about regional stability.Meanwhile, Brent crude oil prices climbed more than 2 percent in early trading, crossing the $95-per-barrel mark amid fears of further escalation in the region.Why Are Gold Prices Falling?Market analysts said the decline highlights that domestic gold prices do not always move in line with geopolitical developments. Although gold is traditionally considered a safe-haven investment during periods of global uncertainty, local market factors, investor sentiment and profit-booking often influence bullion prices.The sharp drop has drawn attention from investors, jewellers and buyers, with many viewing the correction as a potential opportunity amid continued volatility in global commodity markets.Latest Gold Prices in India24K Gold: ₹1,52,720 per 10 grams22K Gold: ₹1,39,990 per 10 grams18K Gold: ₹1,14,540 per 10 gramsThe latest decline has made gold price news, gold rate today, and 24K gold price update among the most searched financial topics across the country.
Leave a Reply