India Gold Prices Plummet ₹4,065 Amid US Rate Hike, Safe-Haven Demand

Gold and silver prices have plummeted in India, with gold falling ₹4,065 to ₹1.48 lakh per 10 grams and silver becoming cheaper by ₹9,158, with prices dropping to ₹2.23 lakh per kilogram.

The decline comes after a sharp drop over the last 28 days of September, with gold prices decreasing by ₹8,000 and silver prices falling by ₹14,000.

Market experts point to two major factors influencing the current market: the US Federal Reserve's interest rate hike and safe-haven demand.

Analysts advise retail investors to remain cautious as the market remains volatile, but highlight that any sharp price drops should be viewed as a good buying opportunity for long-term investors.