Since November, the price of gold has been unstable but in April, its decline was precipitated.
What is surprising is not the fall itself but its speed.
In just two sessions, gold prices dropped 13% in the steepest fall in 33 years.
In May again, on Thursday, May 16, gold prices dropped to a one-month low by losing Rs 500 to end at Rs 26800 per 10 grams in Delhi on heavy selling by stockists driven by weak global trend.
It wasn't gold alone that got caught in the bear grip.
Prices of other commodities such as silver, crude oil, copper and so on also declined, but not as sharply.
Text: DH Pai Panandiker, Reuters