Punjab Newsline | New Delhi
Gold and silver prices witnessed a major decline on May 15, according to the India Bullion and Jewellers Association. Silver prices dropped by ₹19,693 per kilogram, bringing the rate down to ₹2.68 lakh from ₹2.87 lakh recorded on Thursday.
Meanwhile, 24-carat gold prices fell by ₹3,000 per 10 grams to ₹1.58 lakh. Earlier, on April 16, gold was priced at ₹1.61 lakh per 10 grams.
The precious metals have now become significantly cheaper from their all-time highs recorded earlier this year. In the last 106 days, gold prices have declined by ₹17,962 per 10 grams, while silver has become cheaper by ₹1,18,433 per kilogram.
On January 29, gold had touched ₹1.76 lakh per 10 grams, while silver was trading at ₹3.86 lakh per kilogram.
The decline comes days after Narendra Modi, during public rallies in Karnataka and Telangana, appealed to people to reduce petrol and diesel consumption and avoid purchasing gold for a year.
