Indian Gold and Silver Prices Decline

As the wedding season in India approaches, demand for gold and silver has surged, but prices have recently dipped. On November 11, 2024, the price of 24-carat gold is reported at Rs 77,027 per 10 grams, while silver stands at Rs 90,833 per kg, reflecting decreases of Rs 355 and Rs 297, respectively. Experts indicate that the overall long-term trend for gold and silver remains bullish despite recent fluctuations influenced by global market conditions and rising dollar index. Market analysts suggest that price volatility is expected to continue, with upcoming US inflation data potentially impacting bullion prices. The wedding season is traditionally a significant period for gold purchasing in India, as it is considered auspicious not only for the couple but also for gifting. Consequently, many buyers are keen to take advantage of the current lower prices before any potential hikes.