Gold and Silver Prices Plummet on MCX
Gold and silver prices have taken a hit in recent trading sessions on the Multi Commodity Exchange (MCX). The price of gold has dropped by ₹6,038 per 10 grams over five days, while silver prices have fallen significantly, by more than ₹1.83 lakh per kilogram, from their all-time high.
The decline in gold prices is also reflected in the domestic market. According to the Indian Bullion and Jewellers Association (IBJA) website, the rate for 10 grams of 24-karat gold fell by ₹1,042. Meanwhile, silver prices in the domestic market dropped from ₹2,46,630 to ₹2,43,892.
The price of 99.9% pure gold has fallen to ₹1,62,400 per 10 grams in the Delhi bullion market, while silver dropped by ₹5,000 to settle at ₹2,45,500 per kilogram on August 28. The recent decline in silver prices is even more notable considering that it had reached an all-time high of ₹4,20,048 per kilogram in January 2026.