Investors are worried as gold and silver prices suddenly crash. Before Diwali, gold on the MCX had touched a record high of Rs 1,32,294 per 10 grams but now it has settled at Rs 1,22,300, a direct drop of Rs 9,000. However, the price of gold on the MCX rose by ₹ 1855 to ₹ 1,23,712.
Meanwhile, silver prices have also fallen significantly, which could benefit investors and wedding or festival buyers. The record price of silver on MCX was ₹ 1,70,415 per kg but now it has settled at ₹ 1,45,900, a decline of ₹ 24,000.
Silver is ₹1,51,200 per kg on IBJA. Silver coins have become popular during Diwali in Gujarat, so this reduction could benefit the middle class. Keep an eye on the market movements and shop within budget to double the festive cheer, experts advise.
Gold Silver Prices and Current Status
- 24 carat gold (IBJA): Rs.1,23,827/10 gm
- 22 carat gold: Rs.1,13,000/10 gm
- 18 carat gold: Rs 92,870/10 gm
- Silver (IBJA): Rs 1,51,200/kg
- MCX: Gold Rs. 1,23,712 and silver Rs.1,48,200
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