Latest Update: Gold and Silver Prices Drop Significantly, Check Latest Rates

New Delhi (The Uttam Hindu): The prices of gold and silver have fallen for the second consecutive day. The prices of both the precious metals have also seen a decline on Wednesday's trading day. The price of 24 carat gold has fallen by more than Rs 400. At the same time, the price of silver has also fallen by about Rs 800.

According to the India Bullion Jewelers Association (IBJA), the price of 10 grams of 24-carat gold has come down by Rs 416 to Rs 97,500, which was earlier Rs 97,916. Similarly, the price of 10 grams of 22-carat gold has also come down by Rs 381 to Rs 89,310, which was recorded at Rs 89,691 on Tuesday. The price of 10 grams of 18-carat gold has also come down by Rs 312 to Rs 73,125, which was recorded at Rs 73,437 on the previous trading day.

The price of silver has come down by Rs 797 to Rs 1,11,200 per kg, which was earlier Rs 1,11,997 per kg. The price of gold and silver is rising in the futures market.

On the Multi Commodity Exchange (MCX), the price of gold for August 5, 2025 contract was up 0.21 per cent at Rs 97,415, and the price of silver for September 5, 2025 contract was up 0.29 per cent at Rs 1,11,805.

There is a rise in the price of gold and silver at the international level. On Comex, gold rose by about 0.27 percent to $ 3,345.60 per ounce and silver rose by 0.34 percent to $ 38.24 per ounce.

Julius Baer, chief economist at Carsten Menke, said, "Gold is stuck in consolidation, showing no signs of resuming the recent rally. As a result of easing trade tensions and diminishing recession risks, safe-haven demand has started to ease. Central bank buying is still good, but not as strong as at the start of the year. We still see a long-term favorable fundamental backdrop."

Meanwhile, silver has risen, which first and foremost reflects renewed interest from investors, he further added.

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