Indian Gold, Silver Prices Plummet Amid Global Market Volatility

Gold prices in India have dropped significantly over the past two days, according to data from the India Bullion and Jewellers Association (IBJA). As of September 29th, 10 grams of 24-carat gold is now priced at ₹1.47 lakh, a drop of ₹580 compared to the previous day. This decline marks a cumulative fall of ₹5,000 in just two days.

Similarly, one kilogram of silver has become cheaper by ₹11,000, settling at ₹2.22 lakh. The price of gold and silver has fluctuated over the past month, with September seeing a total drop of ₹9,000 for gold and ₹15,000 for silver since August 31st.

Experts believe that gold prices may continue to be volatile due to various market factors, including the recent interest rate hike by the US Federal Reserve. While some investors may view this as an opportunity to buy gold at a lower price, others caution against making long-term predictions about the market.