Gold And Silver Crash: What’s Happening In The World?

Over the last few days, the prices of gold and silver has been going down and up very unpredictably, and this hit a new record last night as the price is fluctuated at an unprecedented level.

On January 30, 2026, gold and silver prices in India witnessed a sharp crash after touching record highs just a day earlier. On the MCX, gold prices fell by nearly 10 to 12 percent in a single session. Gold that was trading close to ₹1,84,000 per 10 grams dropped sharply to around ₹1,49,000 per 10 grams. This means investors saw a fall of nearly ₹30,000 per 10 grams within hours, one of the steepest single day corrections in decades.

Silver saw an even bigger impact. After recently crossing ₹4,20,000 per kilogram, silver prices crashed to nearly ₹2,91,000 per kilogram. This translates to a fall of around ₹1,30,000 per kilogram in one session.From peak levels, silver corrected by nearly 27 percent, shocking retail investors who entered at record prices.

Market experts say the crash was driven by heavy profit booking after an extreme rally, a stronger US dollar, and global cues linked to interest rate expectations. Many traders rushed to exit leveraged positions, adding to the panic selling.

Gold and silver ETFs in India also fell sharply, with some losing over 20 percent in a day. Overall, this was a brutal but classic market correction after an overheated rally, not a permanent collapse of the precious metals market.