Major Crash in Bullion Market: Gold and Silver Prices Plummet
The bullion markets across the country are witnessing a massive downward trend, bringing much-needed relief to retail buyers. Amid ongoing market fluctuations, gold and silver prices have registered significant losses over the last few sessions, sliding well below their recent record highs just ahead of the peak festive season.
According to market data, persistent selling pressure in both domestic and international commodity exchanges has dragged down the valuation of precious metals. Analysts note that global economic shifts and changing monetary policies are directly impacting retail bullion prices.
Silver Tumbles by Over Rs 10,000 in Two Days
Silver has experienced a steep downward correction over the past couple of days. Data from the Multi Commodity Exchange (MCX) and various regional bullion associations indicate that silver prices have dropped by roughly Rs 10,000 to Rs 11,000 per kilogram, bringing major relief to industrial users and retail investors alike.
Check Latest Rates Across Purity Grades
Gold prices have followed a similar bearish trend. As per the India Bullion and Jewelers Association (IBJA), 24-carat gold prices have dropped significantly, hovering around the Rs 1.48 lakh per 10 grams mark. Meanwhile, 22-carat gold is trading near Rs 1,35,550 per 10 grams.
Key Factors Driving the Price Correction
Market experts attribute this downward spiral to a strengthening US dollar, sustained high US Treasury bond yields, and changing macroeconomic indicators. Global uncertainties and shifting investor sentiment toward safer fixed-income assets have temporarily dampened the bullion rally.
