Silver Prices Plummet 1.04% to ₹225,075/kg on MCX

The price of silver has dropped significantly in the domestic market over the past two days. On the Multi Commodity Exchange (MCX), silver futures fell by 1.04% to ₹225,075 per kilogram as of Tuesday morning. This represents a decline of ₹2,367 from its previous closing price of ₹227,442 per kilogram.

The drop in silver prices is not limited to the domestic market; Comex has also seen a decline in silver prices, trading at $61.020 per ounce, down 1.13% from its previous level. Gold prices on Comex have also fallen, dropping by 0.05% to reach $4,166.40 per ounce.

The price of gold on the MCX has dropped to ₹146,023 for 10 grams as of Tuesday morning. The all-time high for silver on MCX is ₹420,048, and it has dropped by ₹195,006 from that peak. In contrast, the record mark for gold on MCX was ₹193,096, which has become cheaper by ₹47,061.