The sharp fall in gold and silver prices highlights the impact of global economic conditions on the domestic market. With inflation concerns and interest rate expectations rising, precious metal prices may continue to fluctuate in the near future.
Silver crashes over Rs 11000/kg
New Delhi: Silver and Gold Prices fell highly on Monday morning, reflecting weakness in global markets and reducing investors demand. On Multi commodity exchange (MCX) , silver prices fell significantly as the price of 1kg silver has fallen by more than Rs 11,000 per kg and also Gold Rate has fallen by about Rs 7,000 per 10 grams.
Gold rate opened at 3% down and its current level around Rs 1.33 lakh per 10 kg. whereas silver opened at 4% down and its current level around Rs2.02 lakh/kg. As observed, Silver fell even more than Gold.
In the international market, gold prices declined more than 2%. Gold prices crashed more than 10% last week.
Prices are falling due to rise of interest rate and global tensions (US-Iran Conflict), which have increased inflation.
Due to rising inflation, investors expect central banks to maintain or even increase interest rates. Higher interest rates reduce the demand for precious metals like gold and silver, as investors prefer other assets that offer better returns.
Key global central banks, including the ECB, BOE, and BOJ, held their policy rates steady while signaling a willingness to tighten monetary policy if price pressures continue.
Gold is cheapest in Kanpur today, where 10 grams is priced at ₹1,44,290.
Silver is cheapest in Patna today, with 1 kg costing ₹2,27,420.
Gold is most expensive in Bhopal and Indore, where 10 grams costs ₹1,45,410.
Silver is also highest in these cities, priced at ₹2,27,780 per kg.
The sharp fall in gold and silver prices highlights the impact of global economic conditions on the domestic market. With inflation concerns and interest rate expectations rising, precious metal prices may continue to fluctuate in the near future.
