In a relief to buyers, gold and silver prices fell sharply this week, reversing some of their recent highs. The price of 24-carat gold dropped by ₹2,907 to ₹95,784 per 10 grams, while silver dipped by ₹1,582 to ₹1,05,193 per kg, according to the India Bullion and Jewellers Association (IBJA).
Prices of 22-carat and 18-carat gold also fell to ₹87,738 and ₹71,838 per 10 grams, respectively. In international markets, COMEX gold dropped to $3,300/oz and silver to $36/oz.
Experts attribute this correction to easing geopolitical tensions, especially between Israel and Iran, as well as stabilising global trends and US dollar weakness.
Despite the short-term dip, gold has surged 25.76% and silver 22.29% since January 1. Analysts maintain a bullish outlook, with projections suggesting gold could touch $3,700/oz in the coming weeks if geopolitical uncertainties resurface.
Akshay Chinchalkar of Axis Securities stated that as long as spot gold stays above $3,314, an upward movement toward $3,770 remains likely.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]

Gold and Silver Prices Dip Sharply Amid Global Calm, US Dollar Weakness

Global calm and a softer dollar trigger a sharp pullback in gold and silver prices after months of rally.

Gold and Silver Prices Dip Sharply Amid Global Calm, US Dollar Weakness

Global calm and a softer dollar trigger a sharp pullback in gold and silver prices after months of rally.

June 29, 2025 | 17:41 IST