Editor’s Note
Gold prices in Agra have seen a significant drop of ₹3,000–3,400 per 10 grams, bringing 24-carat gold to around ₹1.47–1.48 lakh. Despite this decline, prices remain elevated, continuing to dampen retail demand.
According to Agra bullion traders, 24-carat gold became cheaper by approximately ₹3,000 to ₹3,400 per 10 grams. After the drop, 24-carat gold was seen trading in the range of around ₹1.47 lakh to ₹1.48 lakh per 10 grams. However, prices are still at high levels, so retail buyers’ interest remains limited.
A drop of ₹15,000 to ₹16,000 per kilogram was recorded in silver. Even after this, silver remains around ₹2.65 lakh to ₹2.66 lakh per kilogram. Traders say that while the drop is sharp, demand has not normalized due to the high levels.
In the global market, spot gold weakened by nearly 4%, while a similar decline was seen in silver. Silver did show some stability above $80 per ounce after the sharp fall, but before that, it had recorded one of its biggest intraday drops in several years.
According to market experts, the threads of this decline are directly linked to the United States. Discussions about President Donald Trump nominating Kevin Warsh for the position of Federal Reserve Chairman have strengthened the dollar. When the dollar strengthens, selling pressure increases in gold and silver (COMEX) in the international market, which has had a direct impact on Agra’s local market.
Senior bullion traders in Agra say that for the first time in 10 years, such a large intraday drop has been seen in silver. However, prices are still at historically high levels, so retail buyers are still in a “wait and watch” situation.