Bullion Market Shock.. Gold And Silver Prices Slide

Gold and silver prices, which recently touched record highs, are now witnessing a sharp decline, bringing mixed reactions among investors and buyers. While investors are facing pressure due to profit booking, buyers are welcoming the fall as an opportunity. Over the past four to five days, bullion prices have been steadily dropping, largely due to heavy profit-taking after reaching all-time peak levels.

As of 9:30 AM on this month 2, the Hyderabad bullion market recorded the price of 24-carat gold at ₹1,51,530 per 10 grams, marking a steep fall of ₹9,050 compared to the previous day. Meanwhile, 22-carat gold was priced at ₹1,38,900 per 10 grams, down by ₹8,300. Silver prices have also seen a significant correction. After touching ₹4.25 lakh per kilogram five days ago, silver has now slipped back to ₹3 lakh per kilogram in both Hyderabad and Delhi markets, reflecting a sharp single-day drop of nearly ₹50,000.