The prices of gold and silver have dropped in the domestic market in the last few days following major upheavals in the international market. As per information, prices of 24 K gold dropped by around Rs.4600 per ten gm. from August 10 to August 17 while prices of silver dropped by around Rs 6000 per kg.This fall in the prices of gold and silver has left the buyers of gold jittery as they are now inclined to sell their gold stock. On July 1, the price of gold ruled at 49,500 per ten gm. After July 15, its prices grew by around Rs.300 to Rs.400 per ten gm. and on July 22, they settled at Rs.50600 per ten gm. On July 27, prices of gold increased to Rs.52, 500 per ten gm.
This upward trend of gold continued and on August 10,their prices settled at Rs.57,600 per ten gm.However,after this, the downward spiral of gold prices started and on the first day of this week gold was sold at the rate of Rs.53,000 per ten gm. According to the bullion Merchants, this trend is likely to continue further.However, upto Diwali, prices of gold may attain their trajectory bullion. As far as silver is concerned, its prices on July 15 were pegged at Rs.53000.On August 14,silver prices grew to Rs.67,500.Prior to this on July 21,silver prices were 55,000 on July 22,60,300 and on July 27,silver prices reached Rs.64,500.This upward trend continued and on August 10,silver prices ruled at Rs.72,000.On August 11,at 74,000 and August 12,they came down to Rs.65,000.On August 14,silver prices were Rs.67,500 while on the first day of this week, they slid to Rs.66,000.