Gold, Silver Plunge: MCX Sees Sharp Dip After Global Rally; Check City-Wise Rates

• Gold and silver prices experienced a sharp dip in India following a global correction after a two-day rally.
• On MCX, gold futures dropped 1.27% to Rs 1,50,147, while silver futures plunged 5% to Rs 2,31,500.
• The dip is attributed to profit-booking and a partial end to the bull run seen since last year.
• At COMEX, silver futures briefly fell below $70 per ounce, dropping up to 10% before a slight recovery, and gold futures dropped 1.20% to $4,831 per ounce.
• Factors like international market rates, import duties, taxes, and exchange rate fluctuations influence gold prices in India.