Archive · 31 Jan 2026
Gold and Silver Prices Plunge
Gold and silver prices dropped a lot on Friday.
Gold went down over 11% to $4,763.10 per ounce, and silver fell more than 20% to $95.12 per ounce.
In India, gold prices also dropped by almost 1% to ₹1,50,849 per 10 grams, and silver prices fell to ₹2,91,922 per kg.
The prices went down because people were selling to make a profit, and there were rumors that the rules for trading might change.
Some experts think the prices might go down more if the government cuts import duties on gold and silver.
The US dollar got stronger, which also made gold and silver prices go down.
Some people are worried that gold might not be a safe investment anymore because of all these changes.
Gold and silver prices experienced a significant drop on Friday, with COMEX gold falling over 11% to $4,763.10 per ounce and silver plunging more than 20% to $95.12 per ounce.
In India, MCX gold for April futures ended at ₹1,50,849 per 10 gm, down almost 1%, and MCX silver for March futures closed at ₹2,91,922 per kg.
The decline was driven by profit-booking, margin hike buzz on the CME, and speculation about a hawkish Fed chair pick strengthening the US dollar.
Experts suggest that further downside in gold and silver prices is possible if the Union Budget 2026 announces a cut in import duties.
The US dollar's strength, driven by a hawkish Fed chair pick, also contributed to the decline in precious metals prices.
- Who
- Investors, traders, and analysts
- What
- Gold and silver prices experienced a significant drop
- When
- Friday
- Where
- Global markets, including COMEX and MCX
- Why
- Due to profit-booking, margin hike buzz, and a hawkish Fed chair pick
Supply and Demand Dynamics
Speculative Inflows and Market Sentiment
Price Drivers
Supply and Demand Dynamics
Supply constraints and high demand, particularly from China, are driving copper prices up.
Speculative Inflows and Market Sentiment
Speculative inflows and market sentiment are significantly influencing the price movements of copper.
- COMEX Gold Price
- $4,763.10/oz
- COMEX Silver Price
- $95.12/oz
- MCX Gold Price (April Futures)
- ₹1,50,849 per 10 gm
- MCX Silver Price (March Futures)
- ₹2,91,922 per kg
- Gold's Record High
- $5,625.16 per ounce
- Silver's Record High
- $121.755 per ounce
- MCX Gold's Record High
- ₹1,80,779 per 10 gm
- MCX Silver's Record High
- ₹4,20,048 per kg
