New Delhi: On the first day of December, 1 December 2024, the price of gold fell, which has brought good news for gold buyers. Earlier this month, the price of 22 and 24-carat gold saw a decrease of up to Rs 150. The price of 22-carat gold has now reached around Rs 71,500, while the price of 10 grams of 24-carat gold is trading at around Rs 78,000. This decline has come after the increase in gold prices on 30 November 2024, when gold became expensive but now a decline has been seen in the market regarding it.

Gold prices in major cities of the country

The price of 22-carat gold was Rs 71,650 per 10 grams in cities like Delhi, Noida, Ghaziabad, Jaipur, Gurgaon, and Lucknow, while the price of 24-carat gold was Rs 78,150. Whereas, in Mumbai and Kolkata, the price of 22-carat gold was Rs 71,500 and the price of 24-carat was Rs 78,000. In Patna, Ahmedabad, Bhubaneswar, and Bengaluru too, the price of gold ranged between Rs 71,500 to Rs 71,550 (22 carat) and Rs 78,000 to Rs 78,050 (24 carat).
 

Silver prices also fell

Silver rates have also been facing a decline in the last few days. On December 1, 2024, the rate of one kilogram of silver remained at Rs 91,500, which has come down by Rs 2,000 in the last few days. According to experts, the main reason for this decline in silver prices is volatility in the commodity market and global economic factors.
 

Reasons for the fall in gold prices

There are many reasons behind this fall in the gold market. Experts say that gold is currently trading in a range, in which sometimes it rises and sometimes it falls. This fluctuation in gold prices is normal for investors, as it is mostly affected by global events and commodity market activities. Some experts also believe that as the global economic conditions change, the gold rate also fluctuates.
 

Gold prices likely to rise in 2025

Commodity experts believe that gold prices may rise in 2025. Some analysts estimate that the price of gold may reach Rs 90,000 per 10 grams next year. The reason behind this may be global recession, inflation, and other economic uncertainties, which can make gold a safe investment option.