Gold and silver prices declined sharply on June 24 as a stronger US dollar and interest rate concerns weighed on global precious metal markets.
Key Highlights:
- Gold prices slipped to a two-week low in domestic markets.
- Silver prices also witnessed a notable decline.
- Stronger US dollar pressured global precious metal demand.
- Interest rate concerns impacted investor sentiment.
- 24-carat gold traded near ₹1.45 lakh per 10 grams.
- Silver prices remained around ₹2.25 lakh per kilogram.
New Delhi, June 24: Gold and silver prices witnessed a sharp decline on Wednesday, with gold falling to its lowest level in nearly two weeks. The correction comes amid pressure from global markets, where a stronger US dollar and concerns over higher interest rates have reduced demand for precious metals.
In the domestic bullion market, 24-carat gold was trading near ₹1.45 lakh per 10 grams, while 22-carat gold remained around ₹1.32 lakh per 10 grams. Silver prices also softened, trading close to ₹2.25 lakh per kilogram. Major cities including Delhi, Mumbai, Jaipur, Lucknow and Kanpur reported lower gold rates compared to previous sessions.
Market experts believe expectations of tighter monetary policy in the United States have shifted investor interest toward dollar-based assets, putting pressure on gold and silver prices. While the recent decline may attract buyers looking for lower entry points, analysts suggest that investors should continue monitoring global economic data and central bank decisions before making large purchases in the precious metals market.
