Gold prices witnessed another steep decline this week, extending the downward trend that has continued over the past several days. The precious metal dropped by nearly ₹1,800 in a single day, bringing the price of 24-carat gold (10 grams) down to approximately ₹1,43,970. The correction comes amid easing geopolitical tensions, expectations surrounding the U.S. Federal Reserve’s interest rate policy, and weaker domestic demand, all of which have weighed on gold prices.

Silver prices also moved lower alongside gold. A kilogram of silver is currently trading at around ₹2.21 lakh in the domestic market. In the international market, spot gold has fallen to around $3,973.26 per ounce, compared to nearly $4,100 a day earlier. Meanwhile, spot silver has declined to $57.42 per ounce, while gold futures on the commodity exchange are trading near ₹1.40 lakh per 10 grams.

The sharp correction has begun attracting buyers who had been waiting for prices to cool. Jewellers are witnessing improved footfall as many consumers believe this could be one of the better opportunities to purchase gold before prices stabilize. At the same time, investors are showing renewed interest in gold-related investment products as the market searches for a new price direction.

Interestingly, the price decline has also prompted some people to sell old gold jewellery, fearing that prices may fall even further in the coming months. Market participants say the recent volatility has encouraged both buying and profit-booking, depending on individual investment goals.

Financial experts, however, advise investors not to rush into making a lump-sum purchase. Instead, they recommend adopting a systematic investment approach, buying gold in smaller quantities over time rather than investing all at once. This strategy helps reduce the impact of short-term price fluctuations and averages out the purchase cost.

While many analysts believe the current levels offer a reasonable entry point for long-term buyers, they also caution that gold prices could remain under pressure if global interest rates stay elevated and geopolitical tensions continue to ease. Investors are therefore advised to make purchases based on their financial goals rather than attempting to time the market perfectly.