Bullion Prices Plummet: Gold Down Over ₹4 Lakh in Six Sessions, Silver Slumps Below Record High
Gold and silver prices took a sharp hit on Monday as trading resumed on the Multi Commodity Exchange (MCX) after last week's weakness. The decline in bullion prices was evident from the start of trading, with gold futures for October 5 expiry opening lower at Rs 1,52,225 per 10 grams.
This marked an immediate drop of Rs 542 per 10 grams compared to Friday's closing price of Rs 1,52,767. The fall in gold prices continued the pressure seen in bullion prices during the previous week, with the metal now down by more than Rs 4,000 in six trading sessions.
Silver futures also recorded a steep decline when the market opened, falling to Rs 2,36,423 per kilogram compared to its previous closing price of Rs 2,37,658. This represented a sharp drop of Rs 1,235 per kilogram in early trading.