After a sharp decline in gold prices yesterday, the market has witnessed a sudden and significant rise today, with gold prices increasing by ₹2,000 per sovereign in a single day.
Yesterday morning, gold prices dropped drastically, bringing joy to jewelry buyers. However, by evening, the prices saw an unexpected rebound, causing a major fluctuation in the market. The price of gold had fallen by more than ₹3,000 per sovereign yesterday, surprising buyers with the steep drop.
Today, the price of ornamental gold has increased by ₹920 per sovereign, bringing the rate to ₹90,600 per sovereign. The price of one gram of ornamental gold now stands at ₹11,325. Earlier this morning, gold prices had already risen by ₹1,080 per sovereign, and with the latest increase of ₹920, the total rise amounts to ₹2,000 per sovereign within a day.
Jewelry traders attribute this fluctuation to global market trends and anticipate further movement in prices over the coming days.