Gold and Silver Prices Falls Sharply; Buyers Get Festive Advantage
New Delhi (The Uttam Hindu): Gold and silver prices saw a major decline on Wednesday. The price of 24-carat gold per 10 grams fell by over ₹3,700, while silver dropped by nearly ₹10,600 per kilogram.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold has come down to ₹1,23,907 per 10 grams, compared to the previous ₹1,27,633, marking a drop of ₹3,726.
Similarly, 22-carat gold now costs ₹1,13,499 per 10 grams, down from ₹1,16,912, and 18-carat gold has fallen to ₹92,930 per 10 grams, from ₹95,725 earlier.
Silver Prices Fall Over ₹10,000 per Kg
Silver also witnessed a sharp decline. Its price dropped by ₹10,549, now standing at ₹1,52,501 per kilogram, compared to ₹1,63,050 earlier.
Due to the Diwali holiday, the bullion market remained closed on Tuesday, and the last price update was released on Monday.
Both the spot and futures markets recorded this price drop. On the Multi Commodity Exchange (MCX), gold futures for December 5, 2025, fell by 5.21% to ₹1,21,590, while silver futures for the same date declined by 3.09% to ₹1,45,680.
Global Market Trends Also Weak
Internationally, both gold and silver witnessed similar downward trends. On COMEX, gold slipped by 1.56% to $4,043.19 per ounce, while silver dropped 0.29% to $47.53 per ounce.
Experts attribute this fall to an increase in global precious metal supply, along with signs of global economic stability and a softer stance on tariffs from U.S. President Donald Trump.