Gold and silver prices remained under pressure at the start of the new trading week, continuing the downward trend seen in recent days. After witnessing a sharp correction last week, bullion prices showed limited movement on Monday, June 8, as investors closely monitored global economic developments and precious metal markets.

Although prices stabilized compared to the steep declines recorded recently, both gold and silver remain significantly lower than their levels from a week ago, offering some relief to buyers planning jewellery purchases or fresh investments.

Gold Prices See Stability After Sharp Weekly Fall

The domestic gold market witnessed a notable correction over the past week. Market data indicates that 24-carat gold has declined by approximately ₹4,690 per 10 grams, while 22-carat gold has become cheaper by nearly ₹4,300 per 10 grams during the same period.

Despite the recent decline, investor interest in gold remains strong due to its traditional status as a safe-haven asset and hedge against economic uncertainty.

In the international market, spot gold was trading around $4,470.79 per ounce, reflecting continued global interest in the precious metal.

Latest Gold Rates in Major Indian Cities

Gold prices vary across cities due to local taxes, transportation costs, and market demand. Here are the latest rates for 22-carat and 24-carat gold per 10 grams:

Why Have Gold Prices Fallen Recently?

Several factors have contributed to the recent decline in gold prices:

• Profit booking after previous rallies.
• Fluctuations in the US dollar.
• Changes in global interest rate expectations.
• Movement in international bullion markets.
• Investor sentiment toward risk assets.

Analysts believe that short-term volatility may continue as global markets react to economic data and geopolitical developments.

Silver Prices Also Remain Under Pressure

Silver prices have also witnessed a substantial correction over the past week.

On the morning of June 8, silver was trading at approximately ₹2,64,900 per kilogram in the domestic market. Compared to last week's levels, the white metal has fallen by nearly ₹15,000 per kilogram.

The decline has attracted the attention of investors looking for opportunities in precious metals after the recent correction.

In the global market, spot silver was trading near $72.79 per ounce.

What Should Buyers Do Now?

With both gold and silver trading below recent highs, many consumers may view the current price levels as an opportunity for purchases, especially for upcoming weddings, festivals, and long-term investments.

Before buying, experts recommend:

• Comparing prices across trusted jewellers.
• Checking hallmark certification.
• Monitoring daily bullion market trends.
• Evaluating making charges on jewellery purchases.
• Considering investment goals before entering the market.

Gold vs Silver: Which Metal Is Attracting More Interest?

While gold continues to be the preferred choice for wealth preservation and jewellery purchases, silver has gained popularity among investors due to its industrial demand and lower entry cost.

Many market participants believe silver could witness increased volatility in the coming months because of its dual role as both a precious and industrial metal.

Outlook for Precious Metals

Market analysts expect gold and silver prices to remain sensitive to global economic developments, inflation trends, central bank policies, and currency movements. Although recent declines have provided some relief to buyers, experts advise investors to remain cautious and adopt a long-term approach when investing in precious metals.

Key Takeaway

Gold and silver prices remained largely stable on June 8 after experiencing significant declines over the past week. While 24-carat gold has fallen by nearly ₹4,690 per 10 grams and silver has dropped by around ₹15,000 per kilogram, both metals continue to attract investor attention. Buyers planning purchases should monitor daily rates and compare prices before making any investment decision.