Gold, Silver Prices Plummet: Don't Make This Mistake Amidst Volatility
Business
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News18•31-01-2026, 06:48
Gold, Silver Prices Plummet: Don't Make This Mistake Amidst Volatility
- •Gold and silver futures on MCX saw a sudden decline of up to 15% due to increased selling pressure.
- •February gold futures dropped by approximately Rs. 15,000 per 10 grams, reaching Rs. 1,54,157, a 14.7% fall from its all-time high.
- •Silver prices fell even more sharply, with a decline of Rs. 60,000 per kilogram, trading at Rs. 3,39,910, a 23.5% drop from its peak.
- •The global market also experienced significant pressure, with US spot gold falling 7% below $5,000 per ounce and silver dropping 2% below $100.
- •Experts attribute the fall to profit booking, potential hawkish Fed policy under Kevin Warsh, a stronger US dollar, and reduced safe-haven demand.
Why It Matters: Gold and silver prices plummeted due to profit booking and market factors; investors should exercise caution.
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