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The biggest economic news of this time is coming out from the global and domestic bullion market. Due to the recession in the global market and the record strength of the US Dollar Index, there is a huge uproar in the prices of gold and silver. The situation of this big fall at the international level is such that today on Thursday, gold prices have fallen to their lowest level since November 2025. Due to the strengthening of the US dollar and increasing possibilities of interest rate hike by the Federal Reserve, investors have currently distanced themselves from gold, which is considered a safe investment. In the international market, spot gold has fallen by about two and a half percent to $ 3,997 an ounce, while silver has also slipped and is trading at $ 57 an ounce. Its direct effect is also visible in the Indian domestic bullion market, where the price of 24 carat pure gold has fallen to Rs 141,220 per 10 grams. Gold fell by Rs 1,200 and silver by Rs 4,000 in Delhi bullion market. There has been a continuous downward trend in Indian markets for the last few trading sessions amid changing global estimates regarding US monetary policy. In the Delhi bullion market last evening, gold jumped by Rs 1,200 directly to Rs 1,48,100 per 10 grams, whereas in the previous session it had closed at Rs 1,49,300. Along with gold, silver prices have also seen a sharp decline for the second consecutive day. The price of silver fell by Rs 4,000 per kg to Rs 2,31,000 per kg. It is worth noting that in the very last session, the biggest ever historical fall of Rs 10,500 was seen in silver. Market analysts believe that after this recent upsurge, silver has now returned to its low level of the beginning of April. Why are the prices of gold and silver falling? These are the 2 biggest reasons: Mainly two big geopolitical and economic reasons are working behind this big crash in the prices of precious metals at the global level: Iran war crisis averted: At the global level, the deep fear that had been prevailing for a long time about the war in Iran and the Middle East, is now gradually starting to be averted completely. As soon as the fear of war subsided, investors started booking profits and withdrawing money from safe havens like gold and silver and investing it in the equity market. Strict stance of the US Federal Reserve: The US central bank ‘Federal Reserve’ has given very strict signals regarding interest rates in its recent policy meeting. Big traders in the market are now assuming that the Federal Reserve can decide to increase interest rates before its scheduled deadline, i.e. in the beginning of the coming September. Whenever interest rates rise, gold loses its shine. Rates have fallen from their all-time record high. The current prices of gold and silver have fallen to less than half of the skyrocketing record levels that they had set earlier this year during January 2026. Silver was at its all-time high of $121 an ounce in January 2026, which has now declined from there to just below $57 an ounce. This is its lowest level since December 2025. At the same time, gold has also fallen by more than $ 1,500 from its historical record level of $ 5,594.82 per ounce made in January. US dollar reaches record high of 13 months According to Manoj Kumar Jain, director of Prithvi Finmart, the US dollar is currently trading at its highest level in 13 months in the international market. The strengthening of the dollar has a direct and opposite effect on the prices of gold and silver. Additionally, falling inflation expectations around the world have also weakened the traditional support for gold. However, Manoj Kumar Jain also says that due to the continuous purchasing of gold by Central Banks around the world, gold is getting a very strong support near $3,900. Due to this support level, gold may avoid any further major fall and prices may remain in this limited range for the coming few weeks. Latest Rate List of Domestic Bullion and IBJA Market According to the closing session of the bullion market and the official rates released by the India Bullion and Jewelers Association (IBJA) on Wednesday evening, the prices of gold and silver of different carats have been recorded as follows: Bullion Market Closing Rates (per 10 grams): 24 carat gold: Rs 141,220 22 carat gold: Rs 129,452 20 carat gold: Rs 117,683 18 karat gold: Rs 105,915 Silver (per kg): Rs 213,440 IBJA official rate list (Wednesday evening): 24 karat gold: Rs 142,178 23 karat gold: Rs 141,609 22 karat gold: Rs 130,235 18 karat gold: Rs 106,634 Silver (Closing Price): Rs 222,035 per kg This huge fall in gold and silver prices just ahead of the wedding and festival season can be a great opportunity to buy jewelery for the common customers who were waiting for the right prices for a long time.