Gold Rates Across India Tumble to Rs 1,50,970/10gm; Silver Sees Record Plunge

Gold and Silver prices in India plunged sharply on Friday, marking the biggest declines in decades amid weak global cues and a stronger US dollar. Investors booked profits after a prolonged rally, while concerns over the Federal Reserve’s next leadership added to market uncertainty.

Gold tumbled by Rs 14,000 per 10 grams, with the national average now around Rs 1,50,970 per 10 gm. Silver also saw a steep fall, slipping below Rs 3 lakh per kilogram to Rs 2,92,810 per kg, following a record intraday global decline of 36%, Bloomberg reported.

City-wise Gold Prices (10 gm):

• Mumbai: Rs 1,50,690

• Delhi: Rs 1,50,430

• Bengaluru: Rs 1,50,810

• Chennai: Rs 1,51,130

• Hyderabad: Rs 1,50,930

• Kolkata: Rs 1,50,490

City-wise Silver Prices (1 kg):

• Mumbai: Rs 2,92,280

• Delhi: Rs 2,91,770

• Bengaluru: Rs 2,92,510

• Chennai: Rs 2,93,130

• Hyderabad: Rs 2,92,740

• Kolkata: Rs 2,91,890

Analysts point to a combination of profit booking, weak global metals trends, and fears that new Fed chair Kevin Warsh may adopt a hawkish stance as drivers of the sharp selloff. Gold prices fell more than 12% globally, dropping below $5,000 an ounce for the first time in decades, while silver posted its largest intraday loss on record.

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Despite the fall, experts suggest long-term allocations to gold remain attractive, as structural and tactical dynamics continue to support the metal as a safe-haven asset.

This steep correction comes after an extended rally, which saw gold and silver reach all-time highs, and represents the most dramatic reversal in precious metals markets since the early 1980s.

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