Gold and silver prices fall, silver plunges by ₹24,000 in single day

After the historic rise in the prices of precious metals like gold and silver, the prices have recorded a major decline on Friday.

Gold prices today:

Previous closing price (Prev. Close): ₹1,83,962.00

New Open Price (Open): ₹1,80,499.00

Current trading price: ₹1,78,326.00 (down about 3.06%)

Today's total decline: Gold prices have fallen by a massive ₹8,862 per 10 grams since the previous closing price. However, after a slight recovery, gold was trading at ₹1,78,326 at the time of writing. 

Silver prices today:

Previous closing price (Prev. Close): ₹3,99,893.00

New Open Price (Open): ₹3,83,898.00

Current trading price: ₹3,79,831.00 (down about 5.02%)

Today's total fall: Silver prices have seen a huge drop of ₹23,993 per kg in a single day compared to the previous closing price. However, later it recovered at ₹3,79,831.

According to market experts, gold and silver recently hit record highs, due to which investors have now started profit booking. In addition, the strengthening of the US dollar has increased the pressure on precious metals in global markets. However, sentiment is still mixed due to long-term geopolitical tensions.