Gold and Silver Rates Fall Off a Cliff Today: Massive Drop Leaves Experts Reeling

New Delhi (The Uttam Hindu): The prices of gold and silver have experienced a significant decline today, December 16, in the bullion markets. 24-carat gold has become cheaper by Rs 282, opening at Rs 76,640 per 10 grams. Similarly, silver prices have fallen by Rs 726, opening at an average rate of Rs 89,250 per kilogram. These prices, released by the Indian Bullion Association (IBA), do not include GST and may vary by Rs 1,000 to Rs 2,000 depending on the city.

In terms of other gold categories, the price of 23-carat gold has fallen by Rs 281 to Rs 76,333 per 10 grams. 22-carat gold saw a decrease of Rs 259, now priced at Rs 70,202 per 10 grams, while the price of 18-carat gold has dropped by Rs 212 to Rs 57,480. 14-carat gold also saw a fall of Rs 165, now priced at Rs 44,834 per 10 grams. This overall dip in gold and silver prices is reflective of broader market trends, with notable variations across cities.

In key northern cities of India, the gold price today in Delhi is Rs 78,053 per 10 grams, down from Rs 79,033 yesterday. Jaipur follows closely with gold priced at Rs 78,046 per 10 grams, a drop from Rs 79,026. Lucknow's gold price stands at Rs 78,069, down from Rs 79,049, while in Chandigarh, it is Rs 78,062 per 10 grams, a decrease from Rs 79,042. Silver prices have also dropped in major cities, with Delhi seeing a price of Rs 95,500 per kilogram, Jaipur at Rs 95,900, and Lucknow at Rs 96,400.