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Commodities

Gold and Silver Prices Plummet in India After Modi's Appeal

Guavy AI Editorial Team
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Gold prices in India have fallen after Prime Minister Narendra Modi's appeal to people not to buy unnecessary gold. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold has dropped by ₹1,037 to ₹1.54 lakh. The price of one kilogram of silver has declined by ₹1,711 today to ₹2.35 lakh.

Market expert Anuj Gupta believes that gold prices may remain under pressure in the coming days due to PM Modi's appeal. In addition, gold and silver prices have declined due to the rise in crude oil prices. The recent tensions between Iran and the US have also contributed to this decline.

The price of gold has fluctuated throughout 2026, with a peak of ₹1.76 lakh on January 29, followed by a drop to ₹1.55 lakh on August 31. Similarly, silver prices reached an all-time high of ₹3.86 lakh on January 29 before declining to ₹2.35 lakh today.

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