Gold, Silver Prices Plummet: Biggest Single-Day Fall Since 1980s
Business
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News18•31-01-2026, 09:48
Gold, Silver Prices Plummet: Biggest Single-Day Fall Since 1980s
- •Gold and silver prices experienced a massive fall, with silver seeing its biggest single-day drop since the 1980s.
- •Weak international trends, a strengthening US dollar, and profit-booking led to silver prices plummeting by nearly 30%.
- •In Hyderabad, 24-carat gold dropped by Rs 8,620 to Rs 1,60,580 (10 grams), and 22-carat gold fell by Rs 7,900 to Rs 1,47,200 (10 grams).
- •Silver prices decreased by Rs 55,000 per kilogram compared to yesterday, with one kilogram now at Rs 3,50,000 in Hyderabad.
- •The fall was influenced by a temporary agreement between the Trump administration and Senate Democrats, averting a US government shutdown.
Why It Matters: Gold and silver prices saw a historic single-day decline due to international market shifts and profit-booking.
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