Gold Price Today: Yellow Metal Falls, Silver Up Rs 100

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Posted by AI on 2025-08-19 06:38:55 | Last Updated by AI on 2025-08-19 14:36:04

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Indian markets rejoice as gold prices fall sharply despite silver rising. Here's the breakdown of how it affects the economy

After a volatile couple of weeks owing to a surge in demand due to geopolitical tensions, there is a bit of relief coining for gold and silver buyers as the price of the yellow metal fell sharply on Wednesday.

This came in tandem with peace talks between Russia and Ukraine in Vienna. This led to a general sense of ease and a fall in demand for the safe-haven asset. Meanwhile, silver rose by Rs 100 per kilogram.

With a number of festivals coming up in India, this drop in gold prices and the rising silver prices come as a welcome change for buyers who were waiting for the right opportunity to make their purchases.

After seeing a high of Rs 56,400 per 10 grams, the gold price fell by Rs 2,400 to Rs 54,900 per 10 grams in Delhi. In Mumbai, it fell by Rs 2,410 to Rs 54,900 per 10 gram. In Hyderabad and Chennai, the price fell by Rs 2,430 and Rs 2,410 respectively to Rs 55,400 and Rs 54,410 per 10 grams.

This decline after a steady rise over the past few weeks has certainly brought some relief to the buyers, especially with the wedding season and festivals like Ganesh Chaturthi, Navaratri, and Diwali round the corner.

The fall in the prices has also attracted buyers who were waiting on the sidelines to make their purchases.

"The easing of tensions between Russia and Ukraine after the latter agreed to negotiate a ceasefire provided the backdrop for the decline in gold prices," said a spokesperson for the All India Gem and Jewellery Domestic Council.

This drop comes in contrast to what was being seen in the global markets where gold rose by 0.5% to USD 1,798.80 per ounce while silver climbed 1.1% to USD 23.87 an ounce.

With trade remaining volatile, investors are cautious about the future, but consumers are certainly enjoying the respite these prices are offering them.

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