Gold, Silver Prices Crash: Historic Single-Day Drop on MCX, Investors Lose Crores

• Gold and silver prices experienced a massive, historic single-day fall on Friday on the Multi Commodity Exchange (MCX).
• Silver futures plummeted by 66,000 rupees (16.70%) to 3.34 lakh rupees per kilogram, marking its largest single-day drop ever.
• Gold prices also saw a significant decline, falling by 7% (10,954 rupees) to 1.58 lakh rupees per 10 grams.
• The earlier surge in gold prices was driven by increased global demand, economic uncertainty, and geopolitical tensions involving the US and Iran.
• The current sharp decline is attributed to profit-taking and changing global indicators after a period of record highs.

Why It Matters: Gold and silver witnessed a historic single-day price crash on MCX due to profit-taking and global shifts.