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In this festive season, preparations for Chhath Puja are in full swing. Just before this auspicious occasion, there is a relief news for people planning to buy gold and silver. There is a softening in the prices of precious metals, which is expected to increase the brightness of the market. Gold has fallen far below its record high level, and silver has also lost its shine.

Market experts believe that two major international and domestic reasons are working behind this decline. On one hand, the ongoing trade negotiations with the US regarding tariffs of other countries have gained momentum, which has impacted the global market. On the other hand, investors are booking profits at higher prices, that is, they are earning profit by selling their gold, which has increased the pressure on prices.

Gold became cheaper by more than 5% from record level

The fluctuations in gold prices in the last few days have been quite significant. About ten days ago, the price of gold had touched a new record. At that time, 24 carat gold had reached a record level of ₹ 1,32,770 per kilogram. But, this momentum could not be sustained for long. Now gold is available at a discount of more than 5 percent from that record price. This decline is a good sign for buyers.

If we talk about the latest situation, today (27 October) a slight decline of ₹ 10 per 10 grams was recorded in the price of 24 carat gold in the bullion market of the national capital Delhi. Although this decline may seem small, it reflects the changing trend of the market. A day before this, the prices had remained stable, but even before that, gold had increased by ₹ 115. There was a lot of turmoil in the market last week. Between October 20 and October 24, in just five trading days, the price of gold saw a huge fall of ₹5,950.

The shine of silver also fades

Silver is also following the path of gold. Silver prices remained stable in Delhi for two days, due to which it seemed that the decline had stopped. But today this stability broke and prices softened once again. Today, on October 27, the price of one kilogram of silver in Delhi is ₹ 1,54,900. There has been a slight decrease of ₹ 100 per kilogram.

This decline has also happened after a big decline in the past few days. Before two days of stability, silver prices had fallen for four consecutive days. During that time the shine of silver had reduced by ₹ 17,000 per kilogram, which is a huge figure. If we look at other big metros of the country, then in Mumbai and Kolkata also silver is being sold at the Delhi price i.e. at ₹ 1,54,900 per kg. However, the attitude of silver is somewhat different in South India. In Chennai, one has to pay ₹ 1,69,900 for one kilogram of silver, which is the most expensive among these four metros.

Know what is the price of 10 grams of gold in your city

If you are planning to buy jewelery or invest on the occasion of Chhath Puja, then it is important to know at what price gold is being sold in your city. There is a slight difference in the prices of 22 carat (for jewellery) and 24 carat (for investment) gold in 10 big cities of the country.

• Delhi: In the capital, 24 carat gold is at ₹1,25,760 per 10 grams and 22 carat gold is at ₹1,15,290 per 10 grams.

• Mumbai and Kolkata: Prices are similar in both these major cities. Here 24 carat gold is ₹ 1,25,610 per 10 grams and 22 carat gold is ₹ 1,15,140 per 10 grams.
• Chennai: In this southern metropolis, 24 carat gold is being sold at ₹ 1,25,440 per 10 grams and 22 carat gold is being sold at ₹ 1,14,990 per 10 grams.
• Bengaluru and Hyderabad: Gold prices in these two tech hubs are also the same as in Mumbai and Kolkata. 24 carat ₹1,25,610 and 22 carat ₹1,15,140 per 10 grams.

• Lucknow and Jaipur: The prices in these two big cities of North India are at par with Delhi. 24 carat ₹1,25,760 and 22 carat ₹1,15,290 per 10 grams.

• Patna and Ahmedabad: In Patna, 24 carat gold is ₹ 1,25,660 per 10 grams and 22 carat gold is ₹ 1,15,140 per 10 grams. Same sentiments are there in Ahmedabad, Gujarat also.