Friday saw a decline in gold and silver prices in the Indian bullion market, marking the third consecutive day of falling gold prices. Gold fell by Rs 170 per 10 grams to Rs 78,130, while silver dropped for the second day in a row, falling by Rs 1,850 per kilogram to Rs 88,150. Traders attributed the dip in gold prices to reduced demand from jewelers in the domestic market.
Gold and Silver Rates in Delhi
In the Delhi bullion market, gold prices continued their downward trend, settling at Rs 78,130 per 10 grams, down by Rs 170 compared to Thursday’s Rs 78,300. Gold of 99.5% purity also saw a decline of Rs 170, falling to Rs 77,730 per 10 grams from Rs 77,900 in the previous session. Silver prices similarly fell, dropping by Rs 1,850 to Rs 88,150 per kilogram. On Thursday, silver had been priced at Rs 90,000 per kilogram, reflecting a substantial weekly drop.
Weekly Trends in Gold and Silver Prices
| Day | Gold Price Change (Rs /10g) | Silver Price Change (Rs /kg) |
| Monday | -1,150 | -300 |
| Tuesday | +950 | -1,000 |
| Wednesday | -200 | +500 |
| Thursday | -800 | -2,000 |
| Friday | -170 | -1,850 |
Excluding Tuesday, gold prices dropped by a total of Rs 1,370 per 10 grams over the week. Meanwhile, silver prices, excluding Wednesday’s rise, saw a steep cumulative decline of Rs 4,650 per kilogram during the same period.
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Market Analysis
The consistent decline in gold prices reflects a weak demand from jewelers and stockists amid changing market conditions. Silver, too, experienced a notable dip, driven by reduced industrial demand and market volatility. Both metals have faced significant fluctuations this week, making it a challenging period for traders and investors in the bullion market.
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