Gold price drops ₹5,000/10g; check May 17 rates :
A cooling global trade war and declining demand for safe-haven assets like gold are cited by market observers as the reasons for the decline. The present gold price fall is the result of investors’ shifting focus away from traditional safety nets as global concerns subside.
Delhi, New Delhi:
For the second day in a row, gold prices declined on Saturday, with rates in the Indian market plummeting. The yellow metal has now fallen to about Rs 95,000, a considerable correction of Rs 5,000, from its recent record high of Rs 1 lakh per 10 kilos. Gold is currently priced at over $3,140 per ounce on the global market, following a top of almost $3,500 per ounce in April.
Also Read : what is the price of gold today 24 carat : May 16, 2025
Market watchers attribute the drop to a cooling global trade war and waning demand for safe-haven assets like gold. As global concerns fade,investors’ attention is turning away from traditional safety nets, which is the cause of the current decline in the price of gold.
According to experts, the declining trend may not yet be complete. Many believe that the spectacular returns that gold saw in 2024 and the first part of 2025 are unlikely to occur again very soon.They still contend,nevertheless,that gold is still a wise long-term investment choice.
In an interview with India TV,All Bullion and Jewellers Association Chairman Yogesh Singhal recalled a similar period in 2013 during which gold had a sharp decline. He noted that worldwide gold prices might drop from $3,230 to as low as $1,820 per ounce if comparable circumstances reappear.Domestic gold prices in India may decline further if such a situation materializes, potentially settling between Rs 55,000 and Rs 60,000 per 10 kilos.
What causes fluctuations in the price of gold?
A number of factors,including the opinions of renowned jewelers, influence the price of gold.The demand for gold around the world,changes in exchange values,current interest rates,and laws controlling gold trading are important factors. International developments also have a big impact on gold prices in the Indian market,including the status of the world economy as a whole and the value of the US dollar in relation to other currencies.
A number of factors,including the opinions of renowned jewelers, influence the price of gold.The demand for gold around the world,changes in exchange values,current interest rates,and laws controlling gold trading are important factors. International developments also have a big impact on gold prices in the Indian market,including the status of the world economy as a whole and the value of the US dollar in relation to other currencies.
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