Home / Business and Economy / Gold & Silver Prices Plummet: One-Month Lows Hit
Gold & Silver Prices Plummet: One-Month Lows Hit
16 Mar
Summary
- Gold and silver prices dropped for the fourth consecutive day.
- MCX gold and silver futures recorded a significant decline.
- Global spot gold prices saw a slight increase amidst volatility.
Gold and silver prices experienced a notable decline, marking their fourth consecutive day of falling rates. This trend has pushed gold prices to a one-month low, significantly below earlier record highs for the year.
On the Multi-Commodity Exchange (MCX), both gold and silver futures traded lower. Gold futures for the April 2 contract dropped by Rs. 1,894, while silver futures for the May 5 contract saw a decrease of Rs. 4,422. This pressure was also observed in major Indian cities.
In Chennai, Bengaluru, and Hyderabad, gold prices fell across 24-carat, 22-carat, and 18-carat purity levels. Silver prices in these cities also nosedived, with significant drops reported for kilograms and grams.
