Sat Mar 01 03:40:00 UTC 2025: ## Gold Prices Dip After Record Highs Amidst Stock Market Slump
**Chennai, March 1, 2024** – Gold prices in India have experienced a significant decline following a record high earlier this month, mirroring the ongoing slump in the Indian stock market. After surpassing ₹64,000 per sovereign (8 grams) for the first time on February 11th, gold prices saw a decrease yesterday (February 28th) and continued to fall today.
Today, the price of 24-carat gold dropped by ₹20 per gram to ₹7,940, and by ₹160 per sovereign to ₹63,520. Similarly, 18-carat gold saw a decrease of ₹10 per gram to ₹6,540 and ₹80 per sovereign to ₹52,320. Silver prices remained unchanged at ₹105 per gram and ₹1,05,000 per kilogram.
The recent volatility in gold prices is attributed to the prolonged downturn in the Indian stock market, impacting investor sentiment and driving demand for safe-haven assets like gold. While the price fluctuations are significant for consumers, the recent downward trend offers some relief after several months of continuous price increases.
First Piper 