Gold and silver prices witnessed a decline today as the market opened. Silver dropped by over ₹6,000, while gold also saw a marginal fall. Here’s the detailed update from the MCX market.
Silver Price Update:
Silver experienced a significant fall at the market opening. The March 5 delivery of silver had closed at ₹2,91,577 per kg in the previous session, but today it opened at ₹2,87,127. During early trading, prices touched a low of ₹2,85,513 and a high of ₹2,88,901. By 9:45 AM, silver was trading at ₹2,88,128, down ₹3,449 or 1.18%.
Gold Price Update:
Gold also faced a minor decline. The February 5 delivery of gold had closed at ₹1,43,121 in the last session and opened today at ₹1,42,589. During early trading, gold touched a low of ₹1,42,400 and a high of ₹1,42,837. At 10:00 AM, it was trading at ₹1,42,771, down ₹350 or 0.24%.
Market Trends:
Over the past five days, silver had gained ₹45,500, while gold reached new highs. This year alone, gold prices have risen around 5% and silver prices by 15%. Over the past year, gold has surged approximately 80%, while silver has provided an extraordinary return of around 192%.
Global tensions, along with US President Donald Trump’s tariff policies, are driving investors towards gold and silver. Additionally, central banks in multiple countries are actively increasing their gold reserves, further supporting the demand.
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