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Investors Burnt as Silver Falls Over 30%, Gold Slides Nearly 20% From Peak
Gold Silver Price Crash Today: Gold and silver prices witnessed a sharp decline in the budget environment. Silver fell to ₹26,273 in futures trading, while gold also reached the lower circuit. According to experts, this decline is natural after a sharp rise, and further technical declines are possible in the coming sessions, after which stability may be achieved. Global factors have also increased this volatility.
There is turmoil in the bullion market due to the budget. There are sharp declines in silver prices in futures trading, which have hit the lower circuit, and there is heavy profit-taking in gold. This is a setback for investors, as they had purchased these commodities at higher levels.
At the Multi Commodity Exchange (MCX), the silver for delivery in March declined by Rs. 26,273 (Silver Price Crash), or by nearly 9%, to close at Rs. 2,65,652 (Silver Price Today) per kg.
In the previous session, silver had also declined by Rs 1,07,968 or 27% and closed at Rs 2,91,925, or the silver rate today. Silver has declined by 33.6% or Rs 1,34,241 in two sessions alone. On a weekly basis, silver has declined by almost 21% from its high of Rs 3,34,699 on January 23.
