According to the India Bullion and Jewellers Association, a sharp decline has been recorded in the prices of gold and silver across the country this week.

weekly price drop for silver and gold

Silver has become cheaper by 13,071 rupees this week, bringing the price of one kilogram of silver down to 1.81 lakh rupees.

Additionally, the price of 10 grams of 24-carat gold decreased by 1,576 rupees to reach 1.40 lakh rupees.

According to the data, silver has become cheaper by 39,485 rupees and gold by 8,084 rupees so far this month.

total gold holdings in indian households

According to a Morgan Stanley report, Indian households hold 34,600 tonnes of gold. The market value of this total gold held by Indian families is 450 lakh crore rupees.