KEY HIGHLIGHTS
- Silver crashes by over ₹5,000 per kg at MCX opening; gold also declines sharply.
- Silver now ₹1.47 lakh below January high; gold down ₹32,580 from lifetime peak.
- Investors advised to track volatility carefully before making fresh commodity or equity positions.
The domestic commodity and stock markets witnessed noticeable volatility on Thursday morning. Gold and silver prices declined sharply at the opening bell on the Multi Commodity Exchange (MCX), while benchmark equity indices Sensex and Nifty showed mixed movements after an initially strong start.
The sudden correction in precious metals has caught the attention of investors, especially as both gold and silver had recently touched record highs.
Gold & Silver Price Crash
| Event/Category | Details/Dates |
|---|---|
| Commodity Exchange | Multi Commodity Exchange (MCX) |
| Silver Opening Price | ₹2,72,560 per kg |
| Previous Silver Close | ₹2,78,364 per kg |
| Gold Opening Price | ₹1,60,516 per 10 gm |
| Previous Gold Close | ₹1,61,145 per 10 gm |
| January 29 High (Silver) | ₹4,20,048 per kg |
| January 29 High (Gold) | ₹1,93,096 per 10 gm |
Silver Falls Sharply at Market Open
Silver witnessed a sharp fall as soon as trading began on MCX. The metal opened at ₹2,72,560 per kg, compared to its previous closing price of ₹2,78,364 per kg.
This marks an immediate drop of ₹5,804 per kg within minutes of market opening.
More significantly, silver is now trading ₹1,47,488 per kg lower than its lifetime high of ₹4,20,048 per kg recorded on January 29. The correction highlights the extent of profit-booking and market cooling after an aggressive rally.
Gold Prices Also Under Pressure
Gold prices followed a similar trend. The April 2 expiry gold futures contract on MCX opened at ₹1,60,516 per 10 grams, down from its previous close of ₹1,61,145 per 10 grams.
This translates to a fall of ₹629 per 10 grams in early trade.
Gold had touched a record high of ₹1,93,096 per 10 grams on January 29. From that peak, prices have corrected by ₹32,580 per 10 grams, indicating a substantial pullback in the precious metals segment.
Stock Market Shows Confusing Trend
While commodities weakened, equity markets also displayed unstable movement.
Sensex Movement
- Opened at 82,418
- Previous close: 82,276
- Slipped to 82,244 within minutes
- Later rebounded by nearly 200 points
Nifty Movement
- Opened at 25,556
- Previous close: 25,482
- Fell to 25,487
- At the time of writing, trading with a gain of around 50 points
The indices moved between green and red zones within a short span, reflecting cautious sentiment among investors.
Why This Matters for Investors
Such sharp movements in gold and silver suggest:
- Possible profit booking after record highs
- Global economic cues influencing commodity markets
- Impact of currency fluctuations and interest rate expectations
For equity investors, volatile opening sessions often signal uncertainty in global markets or cautious domestic positioning.
Editor’s Tip
If you are planning to invest in gold or silver, avoid impulsive buying during sharp falls. Check international price trends, US dollar movement, and RBI policy signals before taking positions. In volatile sessions, spreads can widen — so place limit orders instead of market orders.
FAQs
1. Why did silver fall more than ₹5,000 in a single session?
Silver corrected due to early-session selling pressure and profit booking after recent record highs.
2. Is this a good time to buy gold?
Investors should wait for price stabilisation and monitor global cues. Short-term volatility remains high.
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