Jaipur: Gold and Silver Prices Crash, Investors Lose Crores; Know Today's Latest Rates

Gold-Silver Price MCX Update: Due to weak signals from global markets and a strengthening dollar index, a significant "crash" has been observed in the prices of precious metals in the Indian market.

Gold-Silver Price Crash Today: Today has been a very turbulent day for the commodity market (MCX). Due to weak signals from global markets and a strengthening dollar index, a significant "crash" has been observed in the prices of precious metals in the Indian market. While silver prices have fallen by over ₹13,000 in a single day, gold and copper are also facing immense selling pressure.

Significant Fall in Gold Prices

Ashwini Tiwari, a bullion trader from Jaipur, stated that the shine of gold (GOLD) has dulled in the MCX today. According to the latest data, the price of gold has fallen to ₹1,50,005, registering a substantial decrease of ₹2,066 (-1.36%). The situation is similar for 'GOLDM' (Sona Mini), which is trading at ₹1,48,311 after a drop of ₹2,005. Profit-taking at the high gold prices is considered the main reason for this panic among investors.

Silver Breaks All Records, Becomes ₹13,000 Cheaper

Silver investors have been hit the hardest in today's trading. Silver (SILVER) prices have fallen by ₹12,908 to ₹2,30,907 per kg. Surprisingly, the drop in silver mini (SILVERM) is even more significant, reaching ₹2,38,568 with a hefty fall of ₹13,403. This tsunami in silver prices compared to yesterday could be a big opportunity for buyers, but it raises questions about market stability.

Weakness Also Seen in Copper Prices

Along with precious metals, industrial metal copper also witnessed weakness today. Copper prices are trading at ₹1216.65, down by ₹11.35. Market experts believe that the pressure on base metals is due to a decline in global demand and a strengthening dollar.

Why This Market Tsunami?

• Strengthening Dollar Index: The dollar index rose by +0.059% today to reach 97.760, increasing pressure on metal prices.
• Impact of the Stock Market: The Sensex saw a decline of 503.76 points today, shaking investor confidence.
• Profit-Taking: Investors have rapidly withdrawn after prices reached high levels.