Mumbai: Gold prices fell Rs 919 per 10 grams this week, while silver gained Rs 201 per kilogram, according to the India Bullion and Jewellers Association (IBJA).
The 24-carat gold price declined to Rs 1,00,023 per 10 grams after this week’s trading, down from Rs 1,00,942 on Friday, August 8. The weekly decline represents a significant correction from recent highs in the precious metals market.
Silver prices moved in the opposite direction, rising Rs 201 to reach Rs 1,14,933 per kilogram during the week. On August 8, silver was trading at Rs 1,14,732 per kilogram before the weekly gain.
Gold had reached an all-time high of Rs 1,01,406 on August 8, while silver achieved its record high of Rs 1,15,850 on July 23. The current gold prices fall reflects market correction following the recent peak levels.
Gold prices fall further on final trading day amid silver volatility
On the week’s final trading day, August 14, both precious metals declined, with gold prices falling, continuing the weekly trend. The 24-carat gold price dropped Rs 74 to Rs 1,00,023 per 10 grams from the previous day’s Rs 1,00,097.
Silver experienced sharper daily volatility, falling Rs 342 to Rs 1,14,933 per kilogram from Rs 1,15,275 in the previous trading session. Despite the daily decline, silver maintained its weekly gains over the period.
The precious metals market showed mixed signals with gold prices fall, contrasting against silver’s weekly appreciation. Gold’s retreat from the August 8 all-time high of Rs 1,01,406 indicates profit-taking by investors following the recent rally.
Silver’s performance remained more resilient despite daily fluctuations, though it traded below the July 23 record high of Rs 1,15,850 per kilogram throughout the week.
