Gold & Silver Prices Plunge: Hyderabad Sees Significant Drop, Global Shifts

• Gold and silver prices saw a significant decrease on December 19 in Hyderabad and on the Multi Commodity Exchange (MCX).
• 24-carat gold dropped by Rs. 660 per 10 grams, 22-carat by Rs. 600, and 18-carat by Rs. 490 in Hyderabad.
• Silver price in Hyderabad fell by Rs. 3,000 per kilogram, now at Rs. 2,21,000.
• Switzerland's gold exports to India decreased by 15% in November due to high prices and reduced demand, reaching a low of 2 metric tons.
• Exports from Switzerland to China and Britain, however, saw an increase, with Britain receiving 45 tons, its highest since June.

Why It Matters: Gold and silver prices fell sharply due to decreased Indian demand and global market shifts.