Punjab Newsline | New Delhi
Gold prices witnessed a sharp decline on Friday, providing relief to buyers as rates dropped across all major purity categories. In the domestic market, 24-carat gold fell by ₹1,680 per 10 grams, or 1.18%, compared to the previous session, bringing its price down to ₹1,40,540 from ₹1,42,220.
The weakness was also reflected in the international market, where COMEX gold slipped 0.02% to $3,991.90 per ounce, falling below the key psychological level of $4,000 per ounce. The decline suggests a slowdown in demand for gold as a safe-haven investment.
Meanwhile, 22-carat gold also became cheaper, declining by ₹410 per 10 grams to ₹1,30,590, compared with ₹1,31,000 a day earlier.
18-carat gold recorded an even steeper fall, with prices dropping ₹1,260 per 10 grams to ₹1,05,405, down from ₹1,06,665 in the previous session.
The broad-based decline in gold prices comes amid softer global bullion prices, offering a buying opportunity for consumers and jewellery buyers.
