Gold Prices Plummet ₹708 as Silver Drops ₹386 in India
Gold and silver prices dropped on Thursday, August 14, with both precious metals trading lower than their previous session. The price of 10 grams of 24-carat gold fell by ₹708 to ₹1,52,363, down from ₹1,53,071 per 10 grams on August 13.
The decline in silver prices was also significant, with the price of one kilogram falling by ₹386 to ₹2,33,842 compared to ₹2,34,228 on the previous day.
According to Ajay Kedia, a commodity analyst, gold and silver have moved significantly below their recent highs. He predicts that gold could potentially return to around ₹1,60 lakh per 10 grams by the end of the year, while silver could move towards ₹2,80 lakh per kilogram.
However, precious metals remain market-linked assets, and prices can change depending on global economic conditions, interest rates, currency movements, geopolitical developments, and investor demand. Investors considering exposure to gold or silver should avoid treating short-term price targets as guaranteed outcomes.