Gold, Silver Prices Drop in India: Check City-Wise Prices - August 18

On Sunday morning, in the early trade, the price of 24-carat gold fell by Rs 380, with ten grams now costing Rs 59,020.

Silver prices dropped by Rs 500, with 1 kg priced at Rs 72,500.

Similarly, the 22-carat gold decreased by Rs 350, bringing down the price to Rs 54,100 per ten grams.

Geopolitical events, like conflicts or diplomatic issues, can increase demand for gold as a safe investment, pushing its price.

Economic factors like inflation and interest rates also affect gold’s value. For example, when inflation is high, people often buy more gold to protect against currency devaluation.