Gold-Silver Rate Crash: The trend of decline in gold and silver prices continued on Friday as well and in just two days, silver has become cheaper by Rs 22,000 per kilogram, while gold has become cheaper by more than Rs 7,000 per 10 grams.
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Gold and silver prices are once again experiencing a significant drop, with both precious metals experiencing a two-day crash. Silver futures prices suddenly fell sharply as trading began on the Multi Commodity Exchange on Friday. In just two days, this precious metal has become cheaper by ₹22,000. Gold, on the other hand, has also become significantly cheaper, with the price of 10 grams of 24-karat gold falling to ₹1.46 lakh.
Silver fell by Rs 8,000 at the opening.
Looking at the decline in the price of silver on MCX, the price of silver with an expiry date of July 3 fell to Rs 2,37,572 per kg on the previous trading day and slipped to Rs 2,29,561 per kg at the opening of trading on Friday. Consequently, 1 kg of silver became cheaper by Rs 8,011 in one stroke.
Silver falls by Rs 22,000 in two days. The
silver futures price also saw a significant drop on Thursday, the previous trading day, and continued to fall until the end of trading. Looking at the decline over the past two days, silver closed at Rs 2,51,807 on Wednesday, reached Rs 2,37,572 on Thursday, and Rs 2,29,561 on Friday. Consequently, silver has fallen by Rs 22,246 per kilogram in just two days.
Following the decline in the gold rate , the futures price of gold is also moving in tandem with the silver price and has been steadily declining. The price of 10 grams of 24-karat gold, expiring on August 5th, fell to ₹1,46,252 upon opening, after closing at ₹1,49,309 per 10 grams the previous trading day. This means that gold suddenly fell by ₹3,057.
How much has gold fallen from its high?
Considering the decline in gold prices over the past two trading days, the price of 10 grams of gold was ₹1,53,879 on June 17th, and from there, the precious yellow metal has fallen by ₹7,627. Compared to its high, gold futures crossed ₹2 lakh for the first time in January, and the high for this expiry gold futures is ₹2,04,375, making gold now available ₹58,123 cheaper.
Why did gold and silver suddenly start falling?
If we talk about the reasons behind the Gold Silver Rate Crash, it is related to America. Actually, the US Fed has announced to keep the repo rate stable in the June 2026 meeting, that is, no change was made in the interest rates and they have been kept in the range of 3.50% to 3.75%. However, Fed officials have expressed concern about rising inflation and have expressed the possibility of further increase in interest rates, the effect of which has been seen on the prices of gold and silver as well.
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