Gold Price Drops After Continuous Rise: What Is the Rate on Saturday (June 21) for 10 Grams?

Gold Price Drops After Continuous Rise: What Is the Rate on Saturday (June 21) for 10 Grams?

Following a consistent surge, gold prices have slightly declined over the weekend, bringing relief to jewellery lovers. Amid the ongoing war between Russia and Ukraine in Europe, rising tensions in the Middle East between Israel and Iran have further escalated global instability. The increasing unrest between Israel and Iran is having a significant impact on stock and commodity markets worldwide.

Due to this geopolitical turmoil, investors have turned to safe-haven assets like gold, silver, and bonds. However, on Friday, the Indian stock market made a strong comeback with the Sensex rising by over 1,000 points and the Nifty crossing the 25,000 mark — a positive development for investors.

Why Did Gold and Silver Prices Surge?

The combined effect of the Russia-Ukraine war and the Israel-Iran conflict has led to heightened global uncertainty. The clash between two powerful military nations in the Middle East has created concern among global investors, prompting many to shift their focus to safe investments. This resulted in profit booking, causing some cooling off in the prices of gold and silver.

Gold Price Drops in Delhi

In India’s national capital Delhi:

• 22-carat gold is trading at ₹92,240 per 10 grams.
• 24-carat gold is priced at ₹1,00,620 per 10 grams.
• Silver prices have dropped by ₹100 per kg and are now trading at ₹1,09,900 per kg.

24-Carat Gold Prices (Per 10 Grams) in Major Cities:

Silver Prices (Per Kilogram) in Major Cities: