Prices fall again… Silver drops by up to Rs 25,000, Gold becomes cheaper by nearly Rs 1,800

New Delhi (The Uttam Hindu): After sharp fluctuations over the past few days, gold and silver prices have once again recorded a decline. Following the US–India trade agreement, both precious metals had surged strongly on February 3, but the momentum has now weakened. On Wednesday, prices of both gold and silver fell noticeably in the bullion market.

Silver witnessed a steep fall of nearly Rs 25,000 per kilogram in a single day, while gold became cheaper by around Rs 1,800 per 10 grams. This sudden correction has created fresh movement among investors and bullion traders, who have been closely tracking price volatility.

Earlier, on February 4, gold and silver prices had jumped sharply for the second consecutive day. Silver had climbed to around Rs 2.98 lakh per kilogram, while gold reached nearly Rs 1.65 lakh per 10 grams. According to bullion market sources, silver had risen by about Rs 14,300 to trade at Rs 2,98,300 per kilogram, compared to its previous close of Rs 2,84,000 per kilogram.

At the same time, gold of 99.9 percent purity had surged by Rs 7,400 to reach Rs 1,65,100 per 10 grams, up from its previous closing price of Rs 1,57,700 per 10 grams. Traders said that this earlier rise in both metals was recorded in prices inclusive of taxes. However, the latest dip indicates renewed pressure on precious metal prices.