Gold, Silver Rate Today LIVE: Gold and silver prices on the Multi Commodity Exchange (MCX) crashed up to 12% in afternoon trade on Friday, after hitting record high levels in the previous session.
MCX Gold Price Today
MCX gold price for April futures opened 1.88% lower at ₹1,80,499 per 10 grams as against its previous close of ₹1,83,962 per 10 grams level. Selling in the yellow metal prices intensified and MCX gold rate slumped over 6.5%, or by nearly ₹12,000 per 10 grams. MCX gold price hit a record high of ₹1,93,096 level in the previous session.
MCX Silver Price Today
MCX silver price opened 4% lower at ₹3,83,898 per kg as compared with its previous close of ₹3,99,893 level. MCX silver rate touched a new peak of ₹4,20,048 per kg level on Thursday. However, silver price in India today crashed 12%, or nearly ₹48,000 per kilogram.
Globally, gold and silver prices traded lower, pressurised by a strong US dollar. Despite the fall, gold prices were set for their biggest monthly gain since 1980 on rising safe-haven demand for the metal amid persistent global geopolitical and economic uncertainties.
Spot gold price fell 0.9% to $5,346.42 per ounce, after scaling a record $5,594.82 the previous day. US gold futures for February delivery rose 1.3% to $5,390.80 per ounce. Spot silver price fell 0.2% to $115.83 an ounce, after hitting a record high of $121.64 on Thursday.
Gold rates have jumped more than 24% so far in January, heading for a sixth straight month of gains and the largest monthly advance since January 1980. Silver prices have surged 62% so far this month, on track for its best-ever monthly performance.
Meanwhile, the dollar index edged higher, supported in part by the Federal Reserve’s decision to keep interest rates unchanged, but was poised for a second straight weekly decline.
Stay tuned to our Gold, Silver Rate Today Live Blog for the latest updates.
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