Gold and Silver Prices Plummet Amid West Asia Conflict Fears
Gold and silver prices plummeted in India on Tuesday amid fears of renewed hostilities in the West Asia conflict. The price of 24-karat gold fell to Rs 1,50,710 per 10 grams in Delhi, a decrease of Rs 1450 from previous levels. In other cities, including Hyderabad, Bengaluru, and Mumbai, similar trends were observed with prices ranging from Rs 1280 to Rs 1490 lower than before.
The price of 22-karat gold also saw a significant drop, with rates in Delhi standing at Rs 1,38,151 per 10 grams. In Chennai, the 24-karat gold rate was recorded at Rs 1,50,830 per 10 grams, reflecting a decrease of Rs 1490.
Silver futures too witnessed a downward trend, trading at Rs 2,32,350, down by Rs 2430 from previous levels. The sharp fall in prices can be attributed to the increasing uncertainty and fears of conflict in West Asia.