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New Delhi: The fall in gold and silver prices has surprised investors and buyers. A fall of up to ₹ 32,000 was recorded in both the precious metals in a single day on the Multi Commodity Exchange (MCX). Gold fell 4.07% to ₹1,52,300. Whereas silver fell by 9.84% and closed at ₹ 2,37,136.
Big slip from record high
On January 29, silver had reached a record level of ₹ 4.20 lakh per kg. On the same day, gold also went up to ₹1.93 lakh. But after this there was a sharp decline in the market. Gold has fallen by about ₹41,000 from its highest level, while silver has seen a huge fall of ₹1.83 lakh.
today’s market trend
There is pressure on the commodity market on Friday, the last trading day. Open interest analysis is indicating short buildup. This means that traders are taking new positions in anticipation of a recession. Therefore, the decline in gold and silver prices does not seem to be stopping at the moment.
Latest prices in Delhi
In the capital Delhi, 24 carat gold is at ₹15,976 per gram and 22 carat gold is at ₹14,646 per gram. Whereas the price of Silver 999 has been recorded at ₹ 2,899 per 10 grams.
