Gold, Silver Price Crash: MCX Gold Dips Below Rs 1.39 Lakh, Silver Plunges Over Rs 5,500; Check Latest Rates

Gold and silver prices declined significantly in the domestic futures market after a slight recovery in the previous session amid weakness in the global market. MCX Gold, December 4 expiry, plummeted Rs 1,500 to a low of Rs 1,38,678 per 10 grams as compared to the last close of Rs 1,40,186.

MCX Silver, due to expire in December, plunged Rs 5,667 to a low of Rs 1,78,112 per kilogram from the previous session's closing of Rs 1,83,779. 

Latest seen, MCX Gold was trading at 1,38,716, down Rs 1,470 or 1.05 per cent. MCX Silver was quoted at Rs 1,78,557, down Rs 5,222 or 2.84 per cent. 

Why Gold, Silver Prices Fall Today 

Ponmudi R, CEO of Enrich Money, says, "MCX Gold is tracking the decline in COMEX Gold but is holding up relatively better than MCX Silver. A firmer rupee, trading near 94.70, is also weighing on domestic prices by reducing the impact of international price movements. The rupee had closed Monday at 94.89 amid dollar strength, making its recovery today relatively modest."

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Gold, Silver Rate In International Market 

Gold declined below $4,000 per ounce in the international market. Last, COMEX Gold, December expiry, was trading at $3,929 per ounce, down $40.60 or 1.20 per cent.  

COMEX Silver was quoted at Rs $49.295, down $1.5 or 3.13 per cent. 

24k, 22k Gold Rates In India

The yellow metal price for all purity levels declined in the domestic retail market as well. According to bullion.co.in., the 24-karat gold rate on October 3 in India is Rs 1,39,330 per 10 grams, while the 22-karat gold rate today is Rs 1,27,719 per 10 grams.

At the same time, the 20-karat gold rate today is Rs 1,16,108 per 10 grams, and the 18-karat gold rate today is Rs 1,04,498 per 10 grams.

24k, 22k Rates In Key Cities  

Check gold rates in key Indian cities.