Gold Prices Crash Again....

Gold prices witnessed a sharp decline in the domestic market on Friday. The price of 10 grams of 99.9% pure gold in the New Delhi bullion market fell by Rs.3,300 to Rs.1.62 lakh. This marked the third consecutive session of decline, with gold losing Rs.4,700, or around 3%, over three sessions.

Silver prices also dropped sharply, with the price falling by Rs.5,000 per kilogram to Rs.2,45,500 from the previous close of Rs.2,50,500. Industry sources attributed the decline to profit booking by traders, fluctuations in the dollar and weak demand from industrial users and coin makers. Reports of a possible reduction in excise duty amid rising gold smuggling were also cited as a factor. Internationally, gold was trading at $4,599.70 an ounce and silver at $70.31.

Note: Gold and silver prices can change frequently based on domestic and international market conditions. Readers are advised to check the latest rates before making any purchase or investment decision.