Gold and Silver Prices Plunge: MCX Silver Down 8.8%, Gold Falls 1.5% on Feb 5

• Gold and silver prices in India saw a significant decline on February 5 due to profit-booking.
• On the MCX, gold dropped 1.44% to Rs 1,50,849 per 10 grams, while silver plummeted 8.8% to Rs 2,45,192 per kg.
• In Mumbai, 24-carat gold crashed to Rs 1,54,430 per 10 grams, and 22k gold was Rs 1,41,550 per 10 grams.
• Gold recently hit an all-time high of over Rs 1,80,000, and silver reached a record Rs 4,20,000.
• Factors like international market rates, import duties, taxes, and exchange rates influence gold prices in India.