Modest Drop in Gold Prices Today; Current Rates Revealed

Today, there has been a slight dip in gold prices within the state, with rates falling by Rs 10 to reach Rs 5490 per gram. The price of a Pawan gold piece has decreased by Rs 80, now standing at Rs 43,920. For 18 carat gold, the cost is Rs 4553 per gram.

This modest decline comes after a period of consistent growth in the gold market, with prices dropping by Rs 15 per gram just yesterday.

Significantly, the gold trading sector, which had been relatively stagnant for the past two to three years, has witnessed a revival. Business has surged by approximately 20% compared to the previous year. It’s worth noting that after reaching its peak at $1,917 in 2011, international gold prices experienced a decline to $1,200 in 2012-13 and further dropped to $1,050. During that time, the price of gold in India remained steady at 24,000 Pawan and 3,000 rupees per gram. This stability was largely due to the weakening Indian rupee, as gold prices tend to rise with a weaker rupee. On August 15, 2013, when the international gold price stood at $1,366 and the Indian rupee exchange rate was 67, gold was priced at Rs 2,775 per gram, while a Pavan was valued at Rs 22,200 per gram. Currently, gold is experiencing a remarkable 100% appreciation in value.