Gold and silver prices slipped on the last day of the year, silver fell by more than 6%, see latest rates

Gold-Silver Prices Fall: On the last day of the year (31 December), a fall in the prices of gold and silver was seen in the Multi Commodity Exchange (MCX). Gold prices fell by about 1% in morning trade, while silver prices fell by more than 6%. Experts say this fall was due to profit booking at record highs.

February futures gold on MCX fell 0.75% to Rs 1,35,644 per 10 grams. At the same time, March futures silver fell by more than 6% to Rs 2,35,373 per kg. By 9:15 am, MCX Gold was down 0.63% at Rs 1,35,800 per 10 gram, while MCX Silver was down 6.23% at Rs 2,35,373 per kg.

Increase in domestic spot gold prices

Domestic spot gold prices have surged 76% this year, while silver prices have jumped nearly 170%. The main reason behind the fall is profit booking by traders, as both the metals had seen unprecedented surge this year.

According to experts, the main reasons for the rise in gold prices this year were the US Federal Reserve’s cut in interest rates and expectations of further cuts in the coming year, purchases by central banks, increased geopolitical uncertainties and investment in exchange-traded funds (ETFs). An additional reason for the rise in silver prices was strong industrial demand and tight supply. Experts believe that volatility may continue in precious metals as demand fatigue may be seen at higher levels.

impact of international market

Talking internationally, US gold futures fell by more than 1% in February to Rs 4,345. dollar Per troy ounce. The decline came after the dollar strengthened and minutes from the US Federal Reserve’s December meeting showed disagreements among officials over the timing and magnitude of additional rate cuts.

Also read: Stock Market: Stock market was bright on the last day of the year, Sensex jumped 200 points, Nifty crossed 26,000.

The next meeting of the US Federal Open Market Committee (FOMC) is scheduled for January 27-28. The market is predicting two rate cuts in 2026, although some experts believe that the central bank may maintain the current position in January.