Now Reading: Silver plunges Rs 8,300 a kg, gold slides below Rs 1.45 lakh
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Silver plunges Rs 8,300 a kg, gold slides below Rs 1.45 lakh
The Story in Brief
Silver prices crashed by Rs 8,300 per kilogram in Delhi's bullion market on Friday, 30 October, falling to Rs 1,90,200 per kg, its lowest level in about 11 months, according to the All India Sarafa Association and TV9 Hindi. On the MCX futures market, silver dropped Rs 7,000 to Rs 1,82,500 per kg, down 3.67 per cent, Aaj Tak reports.
Gold also fell Rs 1,300 per 10 grams in Delhi to Rs 1,45,200, and slipped 1.16 per cent on MCX to Rs 1,40,900. Internationally, spot gold traded below $4,000 per ounce for the first time in weeks, and silver was around $50.12 to 50.34 per ounce. Analysts attributed the fall to expectations of further US Federal Reserve rate hikes, a stronger dollar, and weak industrial demand from China, especially in solar panel manufacturing.
In Indore, gold fell Rs 800 per 10 grams to Rs 1,43,000, while silver dropped Rs 7,500 to Rs 1,88,000 per kg.
Indian Opinion Analysis
Both sources report heavy falls in gold and silver prices on 30 October, but their figures conflict on the scale of silver's drop. Aaj Tak reports the December futures contract on MCX at Rs 1,82,500 per kg, down Rs 7,000 from the previous close, while TV9 Hindi cites Delhi bullion market spot prices falling Rs 8,300 to Rs 1,90,200 per kg. The difference arises from trading two different benchmarks: futures versus spot. Aaj Tak attributes the slide to a hawkish US Federal Reserve, a stronger dollar, and weak industrial demand from China, and TV9 Hindi does not explore causes. Both agree that international prices have slipped below $50.5 per ounce for silver and under $4,000 per ounce for gold. A next step to watch is whether the US Fed's rate decision later this year extends the rout.
Coverage: 2 sources, 2 neutral
Sources (2): aajtak.in (neutral report), tv9hindi.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Update, 30 October 2026: this story now draws on 2 sources.
