Gold prices in India fell sharply on April 23 after hitting record highs the day before. This drop happened because global tensions eased, especially after the US President spoke positively about trade talks with China.
At 9 am on April 23:
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Gold on MCX dropped by ₹1,358 to ₹95,982 per 10 grams.
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Silver also fell by ₹387 to ₹95,492 per kg.
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Just a day earlier, gold had hit an all-time high of ₹99,350 per 10 grams.
According to the Indian Bullion Association:
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24-carat gold: ₹96,200 per 10 grams
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22-carat gold: ₹88,183 per 10 grams
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Silver (999 purity): ₹95,940 per kg
The fall was due to a stronger US dollar and reduced fears of recession. Gold’s safe-haven appeal went down after the US President backed off from firing the Federal Reserve Chair and sounded hopeful about a trade deal with China.
Gold and Silver Prices in Major Cities (April 23):
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Bengaluru: Gold ₹96,080 | Silver ₹96,040
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Chennai: Gold ₹96,260 | Silver ₹96,100
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New Delhi: Gold ₹95,820 | Silver ₹95,660
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Hyderabad: Gold ₹96,160 | Silver ₹96,120
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Kolkata: Gold ₹94,860 | Silver ₹95,700
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Mumbai: Gold ₹95,990 | Silver ₹95,820
Experts say gold may now trade between ₹95,500 and ₹96,500 in the coming days.
