Sat Apr 05 02:00:00 UTC 2025: ## Gold Prices Plunge After Record Highs: A Sharp Reversal in the Market

**New Delhi, India** – Gold prices, which recently soared to record highs, experienced a dramatic downturn today, sending shockwaves through the market. The price of 10 grams of 22-carat gold dropped by as much as ₹2400 in a single day, following a significant drop of over $80 per ounce internationally.

The price surge in recent weeks had left many consumers unable to afford gold, but today’s fall offers some respite. However, prices still remain high.

Across major Indian cities, prices vary slightly:

* **Delhi:** 10 grams of 22-carat gold is priced at ₹84,140, while 24-carat gold is at ₹91,780.
* **Mumbai:** 10 grams of 22-carat gold costs ₹83,990, and 24-carat gold is at ₹91,630.
* **Chennai:** 22-carat gold is priced at ₹83,990, and 24-carat gold is at ₹91,630.
* **Bengaluru:** Prices mirror those in Mumbai and Chennai.
* **Hyderabad:** Similar to other major cities, 22-carat gold is at ₹83,990, and 24-carat gold is at ₹91,630.
* **Vijayawada:** 22-carat gold is priced at ₹83,990, while 24-carat gold is at ₹91,660.
* **Visakhapatnam:** 22-carat gold is priced at ₹83,900, and 24-carat gold is at ₹91,600.

Silver prices also experienced a decline, ranging from ₹98,900 per kilogram in cities like Delhi, Mumbai, and Bengaluru, to a high of ₹1,07,900 in Hyderabad, Chennai, and Kerala.

Experts attribute this sudden drop to profit-booking by investors who had initially flocked to gold as a safe haven investment amidst global uncertainties, including the war in Ukraine and political instability. However, the recent decline in gold prices could potentially be short-lived. The ongoing conflict and Trump’s tariff policies continue to influence the market. Peace talks between Russia and Ukraine could further impact gold prices in the coming days. The strengthening of gold against the dollar is also being cited as a contributing factor to the price decrease. Additionally, the high prices have led to a decrease in new gold jewelry purchases, with increased trading in old gold for new jewelry.

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