Jobaaj Stories
Gold Prices Crash in India Today – 100 Grams Drop by ₹17,400! Should You Buy Now?
📉 Gold prices in India have taken a major hit today, with 100 grams of gold becoming cheaper by ₹17,400. This sharp decline has left both investors and jewelry buyers wondering about the future of gold rates.
Let’s take a look at why this price drop happened, today’s latest gold rates, and whether this is a good time to invest in gold.
📌 Why Did Gold Prices Drop in India Today?
Several factors have contributed to this steep decline in gold prices:
✔️ Global Market Trends: The international price of gold has seen a downward trend due to changing investment patterns and economic uncertainty.
✔️ Stronger US Dollar: A rising US dollar index makes gold more expensive for other currencies, reducing global demand.
✔️ Interest Rate Decisions: The US Federal Reserve’s stance on interest rates plays a crucial role. Higher interest rates tend to lower gold demand as investors shift to bonds and fixed-income assets.
✔️ Profit Booking by Investors: After a continuous rise in gold prices over the past few weeks, many investors are now booking profits, causing a temporary dip.
📊 Latest Gold Prices in Major Indian Cities
|
City |
22 Carat (10g) |
24 Carat (10g) |
|---|---|---|
|
Chennai |
₹ 85,631 |
₹ 93,411 |
|
Delhi |
₹ 85,783 |
₹ 93,563 |
|
Kolkata |
₹ 85,635 |
₹ 93,415 |
|
Mumbai |
₹ 85,637 |
₹ 93,417 |
|
Bangalore |
₹ 85,625 |
₹ 93,405 |
|
Hyderabad |
₹ 88,080.58 |
₹ 93,405 |
💡 Note: Prices may vary slightly depending on local taxes and jeweler pricing.
🏆 Should You Buy Gold Now or Wait?
With gold prices dropping, many investors are wondering if this is the right time to buy.
📌 Experts suggest:
✅ If you are a long-term investor, this dip could be a great opportunity to accumulate gold.
✅ If you are buying gold for jewelry, waiting for further price stability might be a good option.
✅ If you are into short-term trading, it’s essential to monitor global market trends before making a move.
