Stories
Gold Price Crash: Major drop in gold prices as the market opens
- •Gold and silver prices witnessed a significant decline right after the market opened on Tuesday, continuing Monday's trend.
- •In the international Comex market, gold fell by 0.7% to trade at $4,153.80 per ounce, while silver dropped by 0.43%.
- •In the domestic bullion market, gold prices fell to around 1.49 lakh rupees per 10 grams, and silver hovered near 2.25 lakh rupees per kilogram.
- •On the Multi Commodity Exchange, December gold delivery became cheaper by 176 rupees, trading at 149,300 rupees per 10 grams.
- •24-karat gold was trading at approximately 149,260 rupees, 22-karat at 136,822 rupees, and 18-karat gold at 111,945 rupees per 10 grams.
Key Questions Answered
The decline in gold and silver prices was driven by continuous market volatility and declines observed in the international market, specifically Comex. Additionally, multiple factors such as international market movements, US dollar exchange rate changes, interest rates, geopolitical situations, and investor demand heavily influence these precious metal prices.
Upon market opening, 22-karat gold was trading at around 136,822 rupees per 10 grams, while 18-karat gold was priced at about 111,945 rupees per 10 grams. Meanwhile, 24-karat gold was trading at approximately 149,260 rupees per 10 grams.
On the Multi Commodity Exchange (MCX), gold for December delivery became cheaper by 176 rupees, trading at 149,300 rupees per 10 grams. At the same time, silver prices on the MCX fell by 500 rupees to reach 225,700 rupees per kilogram.
