Gold, Silver Prices Crash: MCX Silver Down 27%, Gold Falls to Rs 1.5 Lakh
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News18•31-01-2026, 09:39
Gold, Silver Prices Crash: MCX Silver Down 27%, Gold Falls to Rs 1.5 Lakh
- •Silver prices plummeted by nearly 30% to below Rs 3,00,000 per kg, marking the biggest single-day crash since the 1980s.
- •Gold prices also saw a significant drop, falling to around Rs 1,50,000 per 10 grams in India.
- •The decline is attributed to heavy profit booking by investors, weak global trends, and a rebound in the US dollar.
- •International spot gold traded 5.31% lower, while spot silver dropped 12.09% due to profit-taking and a US government shutdown deal.
- •Factors influencing Indian gold prices include international rates, import duties, taxes, and exchange rate fluctuations.
Why It Matters: Gold and silver experienced a massive single-day crash due to profit booking and global market shifts.
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