Gold and silver prices crash: Silver drops ₹5,370, gold falls ₹1,768; check latest rates
Gold and silver prices declined sharply, with silver falling ₹5,370 and gold ₹1,768. Check the latest rates before buying.
New Delhi (The Uttam Hindu): Gold and silver prices fell sharply on Thursday as trading began on the Multi Commodity Exchange (MCX). Silver futures dropped by ₹5,370 per kilogram, while gold futures declined by ₹1,768 per 10 grams. Following the fall, silver was trading at ₹2,03,798 per kilogram and gold at ₹1,44,311 per 10 grams.
Silver prices have declined for four consecutive trading sessions. The December 4 expiry silver futures had closed at ₹2,09,168 per kilogram on Wednesday before falling to ₹2,03,798 on Thursday. Compared with its record high of ₹4,20,048 per kilogram in the last week of January, silver has now dropped by ₹2,16,250, nearly half its peak value.
Gold prices also remained under pressure. The December 4 expiry 24-carat gold futures fell to ₹1,44,311 per 10 grams on Thursday, compared with Wednesday’s closing price of ₹1,46,079. Gold had closed at ₹1,47,918 per 10 grams on the previous Friday, meaning it has declined by ₹3,607 since then.