The price of gold, which has been continuously rising to the sky, has given a pleasant surprise to jewelry lovers today. The decrease of more than Rs. 120 per sovereign in a single day is a great joy for those planning to buy new jewelry and those waiting to buy gold for auspicious occasions like marriage. While 22-carat gold was sold at Rs. 9,320 per gram on june 15, today, june 16, it is being sold at Rs. 9,305 by Rs. 15. This sudden price drop has created great excitement among jewelry buyers.

Today's gold and silver price situation: As far as gold is concerned, the prices of all types, including 24-carat, 22-carat, and 18-carat, have decreased compared to last week's price at the beginning of this week. There has been no change in the price of silver.

24-carat gold: 1 gram is down by Rs.17 and is being sold at Rs.10,151 today. A sovereign (8 grams) is being sold at Rs.136 and is being sold at Rs.81,208.
22-carat gold: Yesterday, a sovereign of 22-carat gold was sold at Rs.74,560, and a gram was sold at Rs.9,320. In this situation, today, on june 16, the price of gold has decreased. Accordingly, a gram is being sold at Rs.9,305 by decreasing by Rs.15. A sovereign is being sold at Rs.74,440 by decreasing by Rs.120.

18-carat gold: As for 18-carat gold, its price has also decreased today. 18-karat gold is 75% pure gold and the remaining 25% is an alloy of other metals. It is widely used in making jewelry. Today, one gram is selling for Rs. 10 less at Rs. 7,660, and one sovereign is selling for Rs. 80 less at Rs. 61,280. Although this price drop has given temporary relief to investors who were worried about the continuous price increases, it is seen as a golden opportunity for those who have been waiting to buy jewelry for a long time. As for silver, there is no change in its price today. One gram is selling for Rs. 120, the same as yesterday. One kilo of silver is selling for Rs. 1,20,000.

Factors for changes in gold price: Many factors such as global economic conditions, crude oil prices, the value of the US dollar, and geopolitical tensions continue to affect the price of gold. Investors are seeking gold as a safe haven investment, which is seen as the main reason for this series of price fluctuations. It remains to be seen whether this price increase will continue in the coming days or if there will be a correction. The price of gold continues to fluctuate depending on the trends in the international market and the needs of the domestic market. In this unusual situation, it is necessary for those planning to buy jewelry to pay close attention to the price changes and make decisions. It remains to be seen whether today's price drop is a temporary correction or the beginning of a long-term decline.
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Sowmiya Sriram

16/06/2025 11:54 AM