Gold and silver prices are falling sharply across South Asia, with silver dropping nearly 15,000 taka per kilogram in India over the past week, even as global markets show mixed signals and local jewellers report renewed interest from buyers ahead of the wedding season.
In Indian bullion markets, silver prices have slumped to around 260,000 taka per kilogram in major cities, down from a January peak of 400,000 taka, according to traders in Delhi and Kolkata. The decline has been driven by weakening industrial demand and international market pressures, with one trader describing the drop as “the biggest relief” for silver buyers in recent memory. Gold, too, has softened, with 24-carat prices falling by roughly 1,740 taka and 22-carat by 1,600 taka over the same period.
Despite the domestic downturn, global gold prices showed resilience on April 24, rising 0.6% to $4,721.15 per ounce in spot markets amid ongoing uncertainty over U.S.-Iran tensions and inflation concerns, according to Reuters. However, weekly trends still show a decline of over 2% from recent highs, and U.S. futures for June delivery edged up only 0.4% to $4,740.90.
In Bangladesh, the Bajaj agency announced new rates effective April 23, reducing the price of 22-carat gold by 3,266 taka per bhari to 246,927 taka, while silver dropped by 350 taka to 5,715 taka per bhari. The adjustment reflects broader regional corrections, though local jewellers note that the fall has not deterred buyers — many are viewing the dip as an opportunity to make purchases ahead of seasonal demand.
For more on this story, see Gold prices in Hyderabad fall for fifth day, silver drops sharply amid dollar strength.
In Kolkata, jewellery stores reported steady footfall on April 26, with customers comparing rates and negotiating purchases, particularly for wedding-related items. One shop owner in South Kolkata noted that while the market remains volatile, the psychological impact of lower prices is encouraging hesitant buyers to return.
Buyers are returning to the market despite falling prices
Jewellers across Indian cities report that the recent drop in gold and silver prices is encouraging renewed purchasing activity, particularly among middle-income families preparing for weddings. The decline is being interpreted not as a sign of weakness, but as a window of opportunity.
Global gold prices remain volatile amid geopolitical tension
While domestic prices in India and Bangladesh are falling, international gold markets showed a modest rebound on April 24, supported by safe-haven demand amid U.S.-Iran tensions. Yet the weekly trend remains downward, highlighting a disconnect between local affordability and global uncertainty.
This follows our earlier report, Gold Price Today: Dollar Dip & Rate Cut Outlook.
Silver’s sharp correction reflects shifting industrial demand
The steep drop in silver prices — nearly 15,000 taka per kilogram in a week — points to weakening industrial demand and profit-taking after earlier gains. Analysts note that the metal’s dual role as both an industrial input and a store of value makes it especially sensitive to shifts in manufacturing outlook and investor sentiment.
Why are silver prices falling so sharply in India?
Silver prices have dropped due to declining industrial demand and international market pressure, following a peak in January when prices reached 400,000 taka per kilogram.
Is it a good time to buy gold or silver now?
Many jewellers and traders suggest the recent price drop presents a buying opportunity, especially for wedding-related purchases, as lower costs are encouraging renewed customer interest.
