Silver Prices Plummet Amid Global Market Volatility
Gold and silver prices in India experienced a sharp correction on September 11, following a recent rally. According to the Indian Bullion and Jewellers Association (IBJA), 24-carat gold was trading at around ₹1.53 lakh per 10 grams, while silver was priced at approximately ₹2.30 lakh per kg.
The decline in prices comes amidst heightened volatility in global precious-metal markets. Investors are closely watching US economic data, interest-rate expectations, the dollar, and geopolitical developments. Silver has been particularly affected, with its price fluctuating significantly due to a combination of investment demand and industrial requirements.
Gold prices are also sensitive to changes in US Federal Reserve interest rates. Lower interest rates can reduce the opportunity cost of holding non-yielding assets like gold, while a stronger dollar can put pressure on international bullion prices.
The IBJA benchmark data show that 999-purity gold remains around ₹1.53 lakh per 10 grams in September, although the exact AM and PM rates may differ. Consumers buying jewellery should be aware that market prices can vary depending on the benchmark, timing, GST, and jewellers' charges.