Now Reading: Silver down Rs 14,337 per kg, gold Rs 3,499 in 5 trading days
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Silver down Rs 14,337 per kg, gold Rs 3,499 in 5 trading days
The Story in Brief
On the Multi Commodity Exchange (MCX), silver futures for the 4 December expiry closed at Rs 2,11,418 per kg on Friday, 16 October, down Rs 14,337 from the previous week's close of Rs 2,25,755. This puts silver Rs 2,08,630 below its all-time high of Rs 4,20,048 per kg touched in January.
Gold futures for the same expiry fell Rs 3,499 per 10 grams over the five trading days, closing at Rs 1,48,000 on 16 October against Rs 1,51,499 on 9 October. In the domestic spot market, the Indian Bullion Jewellers Association (IBJA) showed silver at Rs 2,10,918 per kg on 23 October, down Rs 10,191 from 9 October, while 10-gram gold closed at Rs 1,46,426 on 16 October, down Rs 3,004 from the prior week.
Investors are advised to consult market experts before investing in gold or silver ETFs or bullion.
Indian Opinion Analysis
The sharp fall in gold and silver futures on MCX and in domestic spot markets means investors who bought near the January highs have seen deep losses, with silver now 49.7% below its record. The drop, concentrated in just five trading sessions, raises the question of whether the decline reflects a broader shift in global sentiment or a temporary correction. Both metals have further expiry dates in December, giving traders a concrete timeline to watch for a possible rebound or continued slide.
Source: aajtak.in
This brief was synthesised by AI from the source linked above. Methodology and corrections.
