Gold and Silver Prices Fall Sharply: 29 October Update

The bullion market continues to witness significant fluctuations in gold and silver prices. After weeks of steady highs, both metals have now seen a sharp decline, bringing rates below their all-time peak levels. Experts believe the downward trend may continue, presenting a golden opportunity for buyers to invest or get jewelry made.

As of today, the price of 24-carat gold stands at ₹1,21,730 per 10 grams, while silver is priced at ₹1,52,000 per kilogram.

Gold and Silver Price Movement in October

October has been a volatile month for precious metals. The continued changes in prices have directly impacted middle-class households. In recent days, gold and silver prices per 10 grams and per kilogram respectively have become cheaper. Market analysts predict further corrections in the coming days.

Current Gold Prices by Purity (29 October)

Latest Gold Rates in Major Cities (per 10 grams)

Silver Prices Across Cities (per kilogram)

Reasons Behind the Decline in Gold and Silver Prices

The recent drop in gold and silver prices can be attributed to a combination of global and domestic factors. Key influences include changes in international demand, currency value fluctuations, and interest rate trends.

After Dhanteras, prices of both metals have seen continuous corrections, mirroring the ongoing downtrend in global bullion markets. Analysts say the strengthening U.S. dollar, policy expectations from the Federal Reserve, and improving trade relations between the United States and China have collectively contributed to the fall in prices.

With the festive season continuing, market experts advise that this may be the ideal time for consumers planning to buy gold or silver, as prices are expected to remain soft for the short term.