Stories
Gold and silver crash hard as silver plunges by 9400 rupees and gold drops significantly.
- •Silver plummeted by 9400 rupees per kilogram in a single stroke on the Multi Commodity Exchange.
- •Gold prices on the MCX broke down by up to 2350 rupees per 10 grams during the trading session.
- •The massive sell-off was triggered by higher-than-expected US Consumer Price Index inflation data for September.
- •A stronger US dollar and rising bond yields prompted institutional investors to pull money out of safe havens.
- •The strengthening of the Indian rupee against the US dollar further added downward pressure on domestic metal prices.
Key Questions Answered
The sudden sell-off was primarily triggered by fresh US Consumer Price Index (CPI) inflation data for September showing a higher-than-estimated monthly increase of 0.6 percent. This sparked fears that the US Federal Reserve might keep interest rates high for a longer duration, prompting institutional investors to shift funds from safe-haven metals into yield-bearing bonds and the dollar.
On October 14, 2026, silver on the Multi Commodity Exchange (MCX) plummeted by 9,400 rupees to settle at 2,09,797 rupees per kilogram for December 4 futures. Meanwhile, gold prices declined by 2,350 rupees, dropping to 1,46,100 rupees per 10 grams during the evening trading session.
The Indian rupee strengthened by 95.14 paisa against the US dollar, supported by certain restrictions implemented by the Reserve Bank of India (RBI) on dollar purchases. This appreciation made importing gold and silver into India cheaper, putting direct downward pressure on domestic spot and futures prices.
