New Delhi, Apr 29 (BNP): The Indian bullion market is witnessing a major correction, with gold and silver prices falling sharply after touching record highs earlier this year, bringing relief to buyers and triggering fresh interest among investors.
According to market data, gold prices have fallen by around ₹26,000 per 10 grams, while silver has plunged by nearly ₹1.48 lakh per kilogram over the last 89 days since hitting all-time highs on January 29, 2026.
As per the latest figures, 24-carat gold is trading around ₹1.50 lakh per 10 grams, down from its peak of ₹1.76 lakh, while silver has declined to nearly ₹2.38 lakh per kg from a record high of ₹3.86 lakh per kg.
On April 28, gold prices reportedly dropped by ₹1,629 per 10 grams, while silver fell by ₹5,381 per kilogram, reflecting continued pressure in the precious metals market.
Market analysts attributed the steep decline to profit booking after a strong rally, a strengthening US dollar, easing geopolitical tensions, and reduced demand for safe-haven assets.
Experts said many investors who entered the market during the price surge are now cashing out gains, resulting in a broad-based correction across the bullion segment.
Despite the short-term bearish trend, analysts remain optimistic about the long-term outlook for gold and silver, citing inflation concerns, global economic uncertainty, and sustained physical demand.
Jewellery traders said the price drop has encouraged retail buyers, especially ahead of the upcoming wedding and festive season, with many consumers viewing the correction as a buying opportunity.
However, experts advised investors to remain cautious and closely track global central bank decisions, currency movements, and geopolitical developments before making fresh investments.
