Gold Price Today: Gold Falls by ₹3,160 in Three Days, Silver Drops by ₹5,000; Experts Explain the Reasons

Gold and silver prices have declined over the past three days. Gold prices in the domestic spot market have fallen by ₹3,160 per 10 grams, while silver has dropped by ₹5,000 per kilogram. Investors are now awaiting US inflation data for clues about the Federal Reserve’s next interest rate decision.

Gold Price Today in Delhi

Gold prices declined on Wednesday morning. According to Goodreturns, at 10:30 am, the 24-carat gold rate in Delhi fell by ₹1,030 to ₹1,48,410 per 10 grams.

The 22-carat gold rate dropped by ₹950 to ₹1,36,050 per 10 grams. Meanwhile, 18-carat gold fell by ₹780 to ₹1,11,340 per 10 grams.

Silver prices remained unchanged at ₹2,35,000 per kilogram.

Gold Becomes Cheaper by ₹3,160 in Three Days

Gold prices have been falling for three consecutive days. According to Goodreturns, the domestic spot price of 24-carat gold in Delhi stood at ₹1,51,570 per 10 grams on October 11.

By Wednesday, October 14, the price had declined to ₹1,48,410 per 10 grams. This represents a fall of ₹3,160 per 10 grams in three days.

Silver Prices Fall by ₹5,000

Silver prices have also declined over the past three days. On October 11, silver was priced at ₹2,40,000 per kilogram in Delhi.

The price fell to ₹2,35,000 per kilogram on Wednesday, marking a decline of ₹5,000 per kilogram over three days.

What Are Experts Saying About Gold Prices?

According to SEBI-registered investment adviser Dr Ravi Singh, investors are waiting for the US inflation data for September. The figures are expected to provide clues about the Federal Reserve’s next interest rate decision and could also influence gold prices.

Singh said expectations of further interest rate increases in the United States are putting pressure on gold prices.

How Could US Interest Rates Affect Gold?

According to the CME FedWatch Tool, the probability of an interest rate hike in October stands at 23%, while the probability of a rate hike in December is estimated at 88%.

If interest rates rise, interest-bearing assets such as Treasury bonds may become more attractive to investors. This could encourage some investors to move money away from gold, which does not pay interest, towards assets that offer returns through interest payments.

These expectations are contributing to the pressure on gold prices, according to the expert.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Consult your investment adviser before making any investment decision.

Frequently Asked Questions (FAQs)

1. What is the gold price in Delhi today?

According to Goodreturns, on October 14, the 24-carat gold rate in Delhi was ₹1,48,410 per 10 grams, while 22-carat gold was priced at ₹1,36,050 per 10 grams.

2. How much has gold become cheaper in the last three days?

The price of 24-carat gold in Delhi has fallen by ₹3,160 per 10 grams over three days, declining from ₹1,51,570 on October 11 to ₹1,48,410 on October 14.

3. What is the silver price in Delhi today?

Silver was priced at ₹2,35,000 per kilogram in Delhi on October 14, according to the supplied report. Its price remained unchanged that morning.

4. Why are gold prices falling?

According to SEBI-registered investment adviser Dr Ravi Singh, expectations of higher US interest rates are putting pressure on gold prices. Investors are also waiting for US September inflation data.

5. How could US inflation data affect gold prices?

US inflation figures may provide clues about the Federal Reserve’s future interest rate decisions. Changes in interest rate expectations can influence demand for gold and other investment assets.

6. Is this the right time to invest in gold?

Gold prices have declined over the past three days, but this alone does not determine whether it is the right time to invest. Investors should consider their financial goals and risk tolerance and consult a qualified investment adviser before making a decision.