Sun Mar 02 23:30:00 UTC 2025: ## Gold Prices Plunge in India: Sharp Drop in Domestic and MCX Markets

**Mumbai, India** – A significant drop in gold prices has been observed both in the domestic market and on the Multi Commodity Exchange (MCX) in India. After a period of steady increases, gold prices experienced a sharp reversal this past week.

On the MCX, the price of 10 grams of 24-carat gold fell by approximately ₹1900. Specifically, the April 4th expiry contract for 999 purity gold saw a ₹994 drop on Friday alone, closing at ₹84,202 per 10 grams. Compared to the previous week’s closing price of ₹86,010 (February 21st), this represents a total decrease of ₹1,898 per 10 grams.

The domestic market mirrored this trend, with prices for various gold purities falling by around ₹1000 per 10 grams. According to the Indian Bullion Jewellers Association (IBJA), the price of 24-carat gold decreased from ₹86,092 per 10 grams on February 21st to ₹85,060 on February 28th – a reduction of ₹1,032. IBJA provides daily gold and silver prices without taxes and making charges. The association’s rates are considered nationwide benchmarks, although final prices will vary based on making charges and GST. Current IBJA rates show prices of ₹85,060 for 24-carat, ₹83,010 for 22-carat, ₹75,700 for 20-carat, ₹68,900 for 18-carat, and ₹54,860 for 14-carat gold per 10 grams.

Consumers can check the latest gold and silver prices via a missed call to 8955664433 or by visiting ibjarates.com. It is important to remember that the final cost of gold jewelry includes making charges and applicable taxes, which can vary significantly. Hallmarking indicates the gold purity (e.g., 999 for 24-carat, 916 for 22-carat).

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