World · India Bureau
Gold and silver prices crash sharply on MCX; silver down ₹10,000
Precious metals markets in India witnessed a sharp selloff with silver plummeting by ₹10,000 per kilogram on the Multi Commodity Exchange. Gold prices also declined significantly, losing over ₹4,000 per unit.
LSN India ·
Gold and silver prices experienced a steep decline on the Multi Commodity Exchange (MCX) on Wednesday, marking a significant correction in India's precious metals markets.
Silver traded with sharper losses, declining by ₹10,000 per kilogram in intraday trading. The white metal's sharp fall reflected broader weakness in global commodity markets and shifting investor sentiment.
Gold also came under pressure, shedding over ₹4,000 per unit during the session. The decline in 24-karat gold prices indicates widespread profit-taking across precious metals following previous rallies.
The simultaneous fall in both gold and silver suggests a broader reallocation of investor portfolios, with market participants reassessing their precious metals holdings amid evolving global economic conditions and fluctuations in the rupee-dollar exchange rate.
Traders and jewelers are closely monitoring the volatility in precious metals markets, as price movements continue to influence both investment demand and retail purchasing patterns across India's jewelry sector.