Gold Prices Plunge: Biggest Single-Day Fall in Recent Months, Silver Also Down

• Gold prices experienced a significant drop on Friday, January 30, with February delivery gold falling by 9% (₹15,246) to ₹1,54,157 per 10 grams.
• Silver also saw a sharp decline, with March delivery silver on MCX falling by about 17% to ₹67,891, closing at ₹3,32,002 per kg.
• This marks the biggest single-day fall in gold prices in recent months, attributed to international market weakness, a strengthening dollar, and profit-booking.
• Major Indian cities like Delhi, Mumbai, Kolkata, Bengaluru, and Chennai saw gold rates drop by ₹900 to ₹1,000 per gram.
• Experts advise investors and buyers to monitor the market closely as prices are expected to fluctuate, despite the current relief for wedding buyers.

Why It Matters: Gold and silver prices saw a massive single-day fall due to global factors and profit-booking.