There is a significant drop in gold and silver prices from markets in New York to those in India. In the first 15 minutes after the launch of India’s Multi Commodity Exchange, the cost of gold dropped by Rs 900, and silver prices decreased by Rs 1200. Experts indicate that the robust performance of the dollar index is leading to a significant drop in gold and silver prices. In reality, following Donald Trump’s election win, the dollar is becoming more robust. Conversely, Trump has mentioned raising tariffs on certain nations following the inauguration. Allows you to also get information about the actual price of gold and silver.
Gold rates decline on MCX
On the initial trading day of December at the Multi Commodity Exchange, a significant drop in the price of gold is observed. The price of gold dropped by Rs 900 within 15 minutes after the market opened. As per the data, gold rates dropped to the day’s lowest point of Rs 76,201 for every 10 grams in the trading session. On Friday, the cost of gold was observed at Rs 77,128.
At 9.20 am, the cost of gold is decreasing by Rs 834 per ten grams, bringing it to Rs 76,294 per ten grams.
Silver costs Rs 1200 less
Conversely, silver prices are also observed to be declining. On the Multi Commodity Exchange, silver rates dropped by Rs 1175 to Rs 90,034 per kg in just 10 minutes. Examining the data, when the market shut down on Friday, the price of silver stood at Rs 91,209. In contrast, it finished at Rs 90,555 today. Concurrently, silver rates dropped by Rs 974 to reach Rs 90,235.
