Gold-Silver Price Crash: Gold fell to ₹ 2100 and silver to ₹ 14,000, is now the right opportunity to invest?

Gold price: If you were waiting for the right time to invest in gold and silver, then Thursday (April 2) has brought big news for you. A huge decline has been recorded in the prices of both the precious metals in the domestic market today. Silver became cheaper by around ₹ 14,000, while gold also fell by more than ₹ 2100. At present, both selling and buying activities are being seen in the market, but the trend seems weak.

What was the situation on MCX?

By 11 am on Multi Commodity Exchange (MCX), June futures gold fell by about 2.31% i.e. ₹ 3,563 to reach an intraday low of ₹ 1,50,145. Whereas its high was ₹ 1,52,490. Talking about silver, there was a big fall of 5.59% i.e. ₹ 13,613 in May futures and the price slipped to ₹ 2,29,888. Its day’s high was ₹2,42,800.

Decline in international market also

The same trend was seen in global markets also. Spot gold fell about 2.26% to $4,650.30, while spot silver lost 4.7% to $71.50. Both gold and silver appeared under pressure on COMEX also.

Market mood changed due to Trump’s statement

The impact of US President Donald Trump’s recent statement was clearly visible on the market. Investors were hopeful that the ongoing tension with Iran would end, but Trump did not give clear signals. On the contrary, he said that if needed, America can launch a major attack on Iran in the next 2–3 weeks. This uncertainty shocked the market.

rise in crude oil

While gold and silver fell, there was a rise in the prices of crude oil. Brent crude rose about 5.24% to $106.47 a barrel, while WTI crude rose 4.5% to $104.64.

What signals for investors?

According to market experts, there may remain weakness in gold and silver for the time being. Geopolitical tensions are no longer providing ‘safe haven’ support like before. In such a situation, instead of rushing into investment, it would be better to consult your financial advisor.