Gold Silver Price: At the beginning of the new year, gold and silver made a huge jump and touched record highs. But now the situation has changed. From the all-time high, silver has become cheaper by about ₹ 1,67,000 per kg, while gold has also come down by about ₹ 36,000 per 10 grams. Investors are now keeping an eye on the next move of the market.

Silver had touched a record of ₹ 4.20 lakh

On January 29, silver on Multi Commodity Exchange i.e. MCX reached the level of ₹ 4,20,048 per kg for the first time. This was its lifetime high.

However, after this there was a sharp decline in prices. Now silver is getting cheaper by about ₹ 1.67 lakh from its record level, which is a big change for investors.

What is the current rate?

On February 13, silver on MCX closed at ₹2,44,360. In a week it increased to ₹ 2,52,944 per kg, i.e. a weekly increase of ₹ 8,584.

Still it is far below its all-time high. Market fluctuations continue and traders seem cautious.

Gold is also much below the high

Not only silver, gold has also slipped from its peak. On January 29, 10 grams of gold had reached ₹1,93,096.

Now the price of gold on MCX is around ₹ 1,56,876 per 10 grams, which is around ₹ 36,220 less than its high. There was a slight rise in gold last week, but a big fall is still clearly visible.

What are the prices in the domestic market?

According to the data of Indian Bullion Jewelers Association, a slight rise in gold and silver was seen in the domestic market also.

24 carat gold is trading around ₹1,55,066 per 10 grams, while 22 carat is trading at ₹1,51,340. Silver is around ₹ 2,50,314 per kg in the domestic market.

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What signals for investors?

Market experts believe that profit booking is natural after such a huge rise. Now investors are watching whether gold and silver will shine again in future or will fall further.

To put it in desi style, “It is not easy to understand the movement of gold and silver.” If you are thinking of investing, then definitely check the market movements and the opinion of experts, only then take steps.