Editor’s Note
This article reports on a significant drop in gold and silver prices, driven by global tensions and trade policy statements. Readers are advised that precious metal prices are highly volatile and subject to rapid change based on international market dynamics.
Gold and silver prices witnessed a sudden decline on Tuesday. 10 grams of 24-carat gold became cheaper by more than 1,300 rupees. The price of silver also slipped by more than 2,100 rupees per kilogram. Global tensions and tariff statements by Donald Trump were the main reasons behind this decline.
Gold and silver prices had been witnessing tremendous momentum over the past few days, but the market sentiment changed suddenly on Tuesday. As soon as the markets opened, a sharp decline was recorded in the prices of both precious metals. While gold slipped by more than 1300 rupees, silver became cheaper by more than 2100 rupees per kilogram. Amid global tension and tariff-related news, investors started profit-booking, which directly impacted the prices of gold and silver. Let’s find out how much the decline was today and how much the prices have fallen from the high levels.
On the Multi Commodity Exchange of India (MCX), gold with an expiry of 2 April fell from its previous close of 1,61,598 rupees to 1,60,295 rupees per 10 grams. Accordingly, 24-carat gold became cheaper by about 1,303 rupees per 10 grams. Until a few days ago, gold was continuously moving towards new highs, but now a sharp correction is being seen in it.
If we talk about the all-time high, on 29 January, gold had reached a record level of 1,93,096 rupees per 10 grams. Now, comparing it with the current price, gold has slipped by 32,801 rupees from its high. This means those who bought at high prices have suffered a big blow.
A decline was also recorded in silver along with gold. On MCX, the price of silver with an expiry of 5 March broke from its previous close of 2,65,333 rupees per kilogram to 2,63,183 rupees. Thus, 1 kilogram of silver became cheaper by about 2,150 rupees.
Silver also touched its all-time high on 29 January. That day, the price had reached 4,20,048 rupees per kilogram. Now, looking at the current level, silver has become cheaper by 1,56,865 rupees from its high. Such a large decline is surprising for investors.
This decline in precious metals has come at a time when discussions about tariffs and trade wars have intensified again at the global level. Uncertainty in the markets has increased after tariff-related statements by former US President Donald Trump.
Fluctuations in the market are common. Gold and silver are still considered strong for long-term investment, but such a large decline from high levels indicates that investment should be done thoughtfully.
