Gold and Silver Price Today: The Bullion prices fell sharply in the domestic futures market ahead of the Budget announcement, continuing the heavy decline momentum. The Silver futures contract plunged Rs 26 thousand in early trade to hit a low at Rs 2,65,652 per kilogram on Multi-Commodity Exchange (MCX). The Silver contract declined sharply in the previous session to settle at Rs 2,91,925 per kilogram.
Similarly, the gold futures contract plummeted nearly Rs 14,000 to Rs 1,38,634 per 10 grams against the last session's closing of Rs 1,52,345 per 10 grams.
At the time of writing, MCX Gold (April 2 expiry) was at Rs 1,45,244, down Rs 7,101 or 4.66 per cent. While MCX Silver (March 5 Expiry) Rs 2,65,895, down 26,030, down 8.92 per cent.
Gold Rate in the International Market
Earlier, on Friday, the bullion prices dipped significantly in the international market following heavy selling. The Comex Gold fell over 8 per cent to close below $5,000. It was settled at $4,879.60, down $438.80 or 8.25 per cent. At the same time, Comex Silver plunged $29.17 or 25.50 per cent.
24k, 22k Gold Rate In India
According to the India Bullion And Jeweller Association (IBJA) earlier, on Friday, 24k Gold rate was at Rs 1,74,638 per 10 grams, while 22 karat gold was Rs 1,60,611 per 10 grams. At the same time, 18 karat gold rate in India was Rs 1,02,574 per 10 grams.