Gold, silver prices decline for fourth straight day, offering relief to buyers

Gold and silver prices continued to decline for the fourth consecutive day on Monday, bringing much-needed relief to consumers after a prolonged period of sharp price increases. The steady fall in precious metal rates over the past four days reflects shifting market conditions and increased profit booking by investors.

On Monday, the price of 24-carat gold dropped by Rs 9,050 to Rs 1,51,530 per 10 grams, while 22-carat gold fell by ₹8,300 to settle at Rs 1,38,900 per 10 grams. Silver prices also recorded a significant decline, falling by Rs 20,000 per kg to Rs 3,00,000 per kg.

Market analysts attributed the recent correction mainly to profit booking, as investors opted to sell after gold and silver touched record highs. Apart from jewellery consumption, precious metals are widely held as investment assets, and the surge in prices prompted many investors to lock in gains, resulting in a downward adjustment.

The earlier spike in gold and silver prices was driven by global geopolitical tensions, fluctuations in the US dollar, and uncertainty over international energy dynamics. Experts said these factors had pushed safe-haven demand to elevated levels in recent weeks.

Industry observers believe the current price correction presents a favourable opportunity for consumers planning to purchase gold for personal use. However, they have advised investors to avoid panic selling and instead adopt a wait-and-watch approach until the market shows clearer signs of stability.