Good News for Buyers: Gold and Silver Prices Drop Significantly; Know Today's Rates
New Delhi (The Uttam Hindu): There is good news for gold and silver buyers. The prices of both precious metals have seen a decline on Friday. According to the India Bullion Jewelers Association (IBJA), the price of 10 grams of 24 carat gold has come down by Rs 570 to Rs 98,691, which was earlier Rs 99,261.
The price of 22 carat gold has come down to Rs 90,401 per 10 grams, which was earlier Rs 90,923. At the same time, the price of 18 carat gold has come down from Rs 74,446 per 10 grams to Rs 74,018 per 10 grams.
Along with gold, the price of silver has also fallen. The price of silver has come down by Rs 608 to Rs 1,06,775 per kg, which was earlier Rs 1,07,383 per kg.
The reason for the fall in the price of gold and silver is the postponement of US intervention in the Israel-Iran conflict for the next two weeks and signs of reduction in global instability. Gold and silver prices are also witnessing a fall in the futures market.
On the Multi Commodity Exchange (MCX), the price of gold contract for August 5, 2025 fell by 0.71 percent to Rs 98,622 and the price of silver contract for July 4, 2025 fell by 1.11 percent to Rs 1,06,198.
Like the futures market, gold and silver are trading weak at the international level. At the time of writing the news, gold was down 1.23 percent at $ 3,366.10 per ounce and silver was down 2.43 percent at $ 36.015 per ounce.
Since January 1, the price of 10 grams of 24-carat gold has risen from Rs 76,162 to Rs 98,691 by Rs 22,529 or 29.58 per cent. Silver prices have also risen from Rs 86,017 per kg to Rs 1,06,198 per kg by Rs 20,181 or 23.46 per cent.