Indian Gold and Silver Prices Plummet on July 24
The price of gold and silver in India has fallen on July 24, according to data from the India Bullion and Jewellers Association (IBJA). One kilogram of silver is now priced at ₹2.19 lakh, a drop of ₹2,924 from its previous value. Meanwhile, 10 grams of 24-carat gold have decreased in price by ₹1,848 to ₹1.42 lakh.
The recent decline marks a significant drop for both metals. Since reaching an all-time high on January 29, silver has fallen by ₹1.67 lakh per kilogram, while gold has become cheaper by ₹34,000 since its peak on the same date.
Commodity expert Ajay Kedia notes that despite the current downturn, there may be a shift in market trends ahead. He suggests that investors could see an upward trend for both metals before the end of the year, with gold potentially reaching ₹1.60 lakh per 10 grams and silver at ₹2.80 lakh per kilogram.