Last week, gold prices reached a new high, causing concern for those planning weddings and women looking to purchase jewelry. However, today, there has been a slight drop in gold prices, providing relief to the public.
In Chennai, the price of 22-carat gold has decreased by ₹10 per gram to ₹10,210. Similarly, the price per sovereign has decreased by ₹80 to ₹81,680. This slight dip offers some comfort to families planning gold purchases for weddings, hoping for further price reductions.
On the other hand, silver prices remain unchanged. One gram of silver is selling at ₹143, and one kilogram of silver bar is at ₹1,43,000. Silver prices have been stable for the past few days.
Many wonder why gold prices fluctuate. Global market conditions, dollar value, and interest rate changes directly impact gold prices. A strong dollar typically leads to lower gold prices. However, during festive seasons, especially Diwali and wedding seasons, increased demand can drive prices up again.
Experts suggest a further slight decline in gold prices in the coming days. If the global economic situation remains stable, prices may decrease further. However, in the long term, gold remains a safe investment, and its value is expected to remain stable or increase.
Overall, the current price drop provides some relief to the public, particularly families preparing for major events like weddings. At the same time, investors can take advantage of the opportunity to purchase gold at lower prices, keeping a close eye on market trends.
