Bhubaneswar, June 11: Gold prices extended their downward trend for the second consecutive day, bringing noticeable relief to buyers in the domestic market as rates saw a sharp correction.

The price of 24-carat gold dropped by ₹2,130 per 10 grams, bringing it down to ₹1,45,640 per 10 grams. This follows an earlier decline, resulting in a cumulative fall of nearly ₹6,000 over the past two days. Similarly, 22-carat gold also witnessed a significant correction, falling by ₹1,950 per 10 grams to ₹1,33,500 per 10 grams.

Market analysts attributed the decline to fluctuations in international bullion prices and shifting investor sentiment. The correction comes after gold had recently touched record highs amid global economic uncertainty and geopolitical tensions.

Jewellers believe the price drop may trigger fresh demand, especially from consumers preparing for upcoming festive and wedding seasons.