Gold and silver prices crash: Silver slips below ₹2.50 lakh; check today’s latest rates in your city. Gold-silver crash: Silver slipped below Rs 2.50 lakh, know the latest price of your city today – ..

Big news is coming from the domestic and global bullion market at this time. Today once again there has been a brake on the skyrocketing prices of gold and silver. Due to the strengthening of the dollar and profit booking in the international markets, the prices of both the precious metals have come down in the Indian bullion market today. The biggest shock has been felt by silver buyers, where the record rally that has been going on for the last few days has stopped and silver has once again slipped below the psychological level of Rs 2.50 lakh per kg. At the same time, the fall in gold prices in this wedding season has definitely given some relief to the common consumers and jewelry buyers.

Silver’s shine fades due to global pressure

There is a slight slowdown in industrial demand for silver amid global economic uncertainties and signs of change in the policies of central banks. This has had a direct impact on the Indian futures market (MCX) and spot market. After touching record highs in the previous sessions, today silver prices fell sharply, falling below Rs 2.50 lakh. Market analysts say that this temporary improvement is being seen in silver due to heavy selling and profit booking by speculators at high levels, which can provide a good buying opportunity to those who were waiting for the right price for a long time.

Gold prices also came down, buyers were happy

Along with silver, there is a sluggish atmosphere in the gold market also today. A decline has been recorded in the prices of both 24 carat and 22 carat gold. Due to slowdown in the spot prices of gold in the global market, gold has become cheaper in the major bullion markets of the country like Delhi, Mumbai, Kolkata and Lucknow. According to bullion traders, due to the high prices in the past few days, buyers had kept some distance in the retail market, but after today’s decline, the bullion markets are expected to be vibrant once again, especially for those families whose marriages or auspicious functions are going to take place in their homes in the coming days.

What are the rates going on in big cities of the country?

Due to local taxes and making charges, there is a slight difference in the price of gold and silver in different states and cities of India. While the price of 24 carat pure gold per 10 grams has decreased in metropolitan cities like Delhi and Mumbai, the rates of gold and silver have also fallen in the markets of Lucknow, Kanpur and Varanasi of Uttar Pradesh. Selling pressure is also being seen in the markets of Chennai and Bengaluru in South India since this morning. Experts believe that in view of global geopolitical tensions and inflation data, similar fluctuations in the market may continue in the coming days, hence investors should adopt the strategy of investing gradually on every decline.