Donald Trump Effect: Gold Prices Drop Sharply in a Single Day

The impact of the former U.S. President Donald Trump’s recent statements, along with ongoing global economic developments, has led to a significant drop in gold prices in India. In a single day, the price of 22-carat gold fell by ₹1,650, while 24-carat gold saw a reduction of ₹1,790.

In Hyderabad, the price of 10 grams of 22-carat gold is now ₹72,000, while 24-carat gold is priced at ₹78,560.

Silver also experienced a sharp decline, with the price of 1 kg of silver falling by ₹3,000 in just one day. This sudden drop in precious metal prices is attributed to uncertainty in global markets, following news from the U.S. and political developments surrounding Trump’s focus on upcoming elections and economic instability.

The price dip has sparked increased interest from middle-class buyers, who are taking advantage of the lower prices to make purchases. Market analysts, however, expect these price fluctuations to stabilise in the near future, as the market digests the latest global news and its economic implications.