Buyers were in for a surprise as the fall wasn’t just limited to tola rates. The price of 10 grams of 24 karat gold also plunged by Rs5,058, now trading at Rs307,784 compared to the earlier Rs312,842. Similarly, 22 karat gold for 10 grams fell by Rs4,637, settling at Rs282,145 from Rs286,782.

Silver, too, witnessed a dip. The price per tola of silver dropped by Rs24 to Rs4,057, while the 10-gram rate decreased by Rs20, now standing at Rs3,478.

This sharp decline in local gold and silver prices mirrored trends in the global market. Internationally, gold fell by $61, now priced at $3,363 per ounce. Silver also saw a minor slip of $0.26, currently trading at $39.08.

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This sudden slump in gold prices has sparked discussions among investors and consumers alike. Is it a temporary dip or the start of a larger correction? While bargain hunters may see this as a golden opportunity, market watchers advise staying cautious as international price volatility could continue.