Bullion Market Slides In Evening: Gold Drops Below Rs 1,42,000 And Silver Plunges Over Rs 2,000 On MCX

Gold and silver prices plunged in the domestic futures market after trading commenced for the evening session at Multi Commodity Exchange (MCX), mirroring the trend in the global market. MCX Gold contract, due to expire on December 4, declined Rs 1,351 to a low of Rs 1,41,815 per 10 grams as compared to the last closing of Rs 1,43,166. 

MCX Silver, December expiry, plunged by Rs 2,286 to a low of Rs 1,84,841 per 10 grams as compared to last closing of Rs 1,87,127. 

Trading on MCX was closed in the morning session for post-Diwali festivities. The Indian stock market was closed today as well. 

At around 6:12 PM, the MCX Silver was quoted at Rs 1,85,104, down Rs 2,023 or 1.08 per cent. MCX Gold was trading at Rs 1,42,027, down Rs 1,139 or 0.8 per cent. 

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Gold, Silver Rates Dip in International Market 

Precious metal prices declined nearly a per cent in the global market amid concerns ahead of US macroeconomic data. Last seen, COMEX Gold was quoted at $4,083 per ounce, down $31.5 or 0.77 per cent. 

Meanwhile, COMEX Silver was trading at $52.260, down 0.82 per cent. 

24k, 22k Gold Rates In India

Gold rates for all purity levels declined in the domestic retail market as well. According to the latest data on bullion.co.in, the 24 karat gold rate on November 10 in India is Rs 1,42,470 per 10 grams, while the 22 karat gold rate today is Rs 1,30,598 per 10 grams. 

Meanwhile, the 20 karat gold rate today is Rs 1,18,725 per 10 grams and the 18 karat gold rate today is Rs 1,06,853 per 10 grams. 

At the same time, Silver rates today are Rs 1,85,820 per kilogram.