Gold And Silver Crash Again: How Much And Why?

Over the last few days, the prices of gold and silver, and the global markets has been going up and down at an unexpected and unpredictable rate. Now we are witnessing another crash in the essential material prices and let us have a look into the same.

Gold and silver prices witnessed a sharp fall again today, creating a stir in the bullion market. Both metals saw heavy losses within a single day, worrying investors and traders who were expecting some stability after recent fluctuations.

Silver recorded one of its steepest single day declines. The price of one kilogram of silver dropped by Rs 75,400 in just 24 hours. After this fall, the price of silver has come down to around Rs 3,03,000 per kilogram.

This sudden correction has taken many by surprise, especially since silver had been trading at elevated levels for the past few weeks due to strong global demand and speculative buying.

Gold prices also declined significantly. The price of one tola of gold fell by Rs 12,580 in a single day. As a result, the price of 24 carat gold for 10 grams now stands at Rs 1,63,840.

Meanwhile, 22 carat gold is priced at Rs 1,51,710 for 10 grams. This drop has brought some relief to jewellery buyers who were holding back purchases due to record high prices.

Market experts believe the fall is linked to global factors such as profit booking, strengthening of the dollar, and uncertainty around interest rate decisions in major economies. While investors are cautious in the short term, many are closely watching whether prices will stabilise or see further corrections in the coming days.