Gold and Silver Prices Drop on April 6 Amid Profit Booking
Gold, silver rate today, 6 April: Check live price of 24 kt, 22 kt, 18 kt gold and 10 gm, 100 gm, 1 kg silver
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On April 6, gold prices fell by ₹1,400 to ₹1,48,298 per 10 grams, while silver prices dropped by over ₹2,800 to ₹2,29,651 per kg. The decline is attributed to profit booking and a stronger US dollar, alongside inflation concerns due to rising crude oil prices.
- 01Gold prices decreased by ₹1,400 to ₹1,48,298 per 10 grams.
- 02Silver prices fell by over ₹2,800 to ₹2,29,651 per kg.
- 03Profit booking was triggered by a stronger US dollar.
- 04Rising crude oil prices are raising inflationary concerns.
- 05Strong US jobs data is impacting market expectations for Federal Reserve rate cuts.
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On April 6, gold and silver prices experienced a notable decline as traders engaged in profit booking. The price of gold fell by ₹1,400, or nearly 1%, settling at ₹1,48,298 per 10 grams. Similarly, silver prices dropped by over ₹2,800, or more than 1%, reaching ₹2,29,651 per kg. This downturn is largely driven by a stronger US dollar, which is influencing market dynamics amid ongoing inflation concerns linked to rising crude oil prices. Additionally, robust US jobs data has diminished expectations for a Federal Reserve rate cut, further contributing to the drop in precious metal prices. The following are the gold rates across major cities in India: In Delhi, the price for 24 karat gold is ₹1,49,050, while in Mumbai, it stands at ₹1,49,310. Silver rates vary slightly across cities, with Delhi pricing at ₹2,319 for 10 grams.
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The decline in gold and silver prices may affect consumer purchasing decisions, particularly for jewelry and investment purposes. Homebuyers and investors might reconsider their strategies in light of fluctuating precious metal prices.
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