Gold and silver prices have witnessed extreme ups and downs, leaving investors confused and cautious.
What looked like a strong rally suddenly turned into a sharp fall within hours.
The commodity market is currently highly volatile, and even experts are finding it difficult to predict the next move.
Here’s a simple breakdown of what happened, why prices fell, and the latest gold rates.
Silver Crashes After Record Highs
Silver shocked the market with a sudden and massive fall.
After rising by more than ₹80,000 in just four days, silver prices collapsed sharply.
Within one hour, silver fell from around ₹4.20 lakh per kg to ₹3.55 lakh per kg.
On the MCX, silver prices dropped by nearly 6% in a single session.
Although there was a brief recovery later in the night, prices remained highly unstable.
At one point, silver slipped below ₹3.60 lakh, then bounced back close to ₹4 lakh again by late evening.
This sharp rise and fall clearly showed how unpredictable the market has become.
Gold Also Takes a Big Hit
Gold did not escape the volatility.
While silver was swinging wildly, gold prices also plunged heavily.
Gold prices fell by nearly ₹23,000, reaching around ₹1.57 lakh on the MCX.
On Friday morning, gold continued to slide, with February delivery contracts dropping by over ₹7,000 per 10 grams.
Both metals moved sharply lower due to sudden selling pressure.
Gold and Silver Status on January 30
On January 30, silver prices dropped almost 8% from their previous record high and slipped below ₹4 lakh per kg on the MCX.
At market opening around 9:07 am, silver contracts for March delivery fell by nearly ₹20,000, trading close to ₹3.80 lakh per kg.
Gold also remained under pressure.
Spot gold prices fell by around 0.9% in the international market.
On the MCX, gold prices dropped sharply, trading near ₹1.62 lakh per 10 grams.
Why Did Gold and Silver Prices Fall?
The main reason behind this sudden fall is profit-booking.
After a strong rally, many investors decided to book profits, leading to heavy selling.
Another major factor is the strengthening of the US dollar.
As the dollar index rose, investors moved money out of gold and silver and shifted towards other assets.
A technical breakdown in prices also added to the selling pressure.
Together, these factors caused a sharp decline in both precious metals.
Latest Gold Rates in the Bullion Market
According to the India Bullion and Jewellers Association, the latest gold prices are:
24 carat gold: ₹1,75,340 per 10 grams
23 carat gold: ₹1,74,640 per 10 grams
22 carat gold: ₹1,60,610 per 10 grams
18 carat gold: ₹1,31,510 per 10 grams
What Should Investors Do?
With such high volatility, experts suggest caution.
Sharp movements can bring opportunities, but they also increase risk.
Keeping an eye on global cues and avoiding panic decisions is key in the current market situation.
