Gold Down 3.5%, Silver Falls Nearly 5%: Check Latest Rates on January 30

• Gold prices in India declined by nearly 3.5% and silver by about 5% from record levels on January 30, influenced by a firmer dollar.
• In Mumbai, 24-carat gold was Rs 1,78,860 per 10 grams, and 22k gold was Rs 1,63,960 per 10 grams, excluding GST and making charges.
• Silver prices in the spot market fell to around Rs 3,80,000 per kg after hitting a record high of Rs 4 lakh.
• International markets saw extreme volatility, with gold initially falling 8% and silver 11.9% before recovering, amidst a $9 trillion market cap movement.
• Factors like international rates, import duties, taxes, and exchange rates primarily influence gold prices in India.

Why It Matters: Gold and silver prices saw significant declines on January 30 due to global market volatility and a stronger dollar.