In a major development bringing cheers to jewelry buyers and investors alike, gold prices witnessed a significant decline this Thursday. After a period of high volatility, the yellow metal saw a downward trend in early trade today, marking a much-needed relief for middle-class families in the midst of the wedding season. The dip in prices is being attributed to a fall in global demand and a relatively stronger US Dollar, which has impacted the bullion markets worldwide.

According to market analysts, the decrease in international gold spot prices has directly influenced the Indian market. In Kolkata, both 24-carat and 22-carat gold have seen a price reduction of nearly ₹400 to ₹600 per 10 grams. Silver prices have also followed suit, showing a marginal decline, making it an opportune moment for those looking to invest in precious metals.

In the local bullion market, 22-carat hallmarked gold is currently trading at a much more affordable rate compared to the previous week. Traders suggest that while the long-term outlook remains bullish, the current correction provides a perfect window for retail customers. “With the wedding season approaching its peak, this price drop is a blessing for families planning large purchases,” said a leading city jeweler. Customers are advised to keep an eye on the daily fluctuations as global geopolitical factors continue to influence the market dynamics.