Gold Prices Plummet as Global Markets Suffer

Gold and silver prices plummeted in India on September 24 due to a sharp decline in global stock markets. The MCX Gold, October 5 expiry, fell by Rs 1,124 to Rs 1,50,175 per 10 grams from its previous close of Rs 1,51,299.

The MCX Silver, December 4 expiry, dropped over Rs 2,918 to a low of Rs 2,32,600 per kilogram compared to its last close of Rs 2,35,895. At the time of closing, MCX Gold was at Rs 1,50,550, down by Rs 749 or 0.5 percent.

MCX Silver was quoted at Rs 232977, down Rs 2918 or 1.24 percent.