MCX Silver Prices Drop Sharply by 4% Below ₹2.18 Lakh per Kg
Silver and Gold Prices Plummet Amid Global Market Volatility
March 24, 2024
The global precious metals market witnessed a decline in prices on Tuesday, driven by geopolitical tensions in the Middle East. MCX silver prices in India fell by 4.21% or ₹9,474 to ₹215,693 per kg, while MCX gold prices dropped by 1.77% or ₹2,460 to ₹136,800 per 10 grams.
The global market also saw a decline in prices, with Spot silver falling by 2.9% to $67.11 per ounce, and Spot gold dropping by 1.6% to $4,335.18 per ounce, according to data from 0227 GMT. This marks the lowest point for the metal since November 24. The decline in prices is a result of investors shifting their focus away from precious metals due to global market uncertainty.
Read also: Gold and Silver Prices Decline Amid Strengthening Dollar and Inflation Concerns
Investor Takeaway
Investors should be cautious of the current market volatility and potential impact on precious metal prices.
More in General
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