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On the Multi Commodity Exchange (MCX), silver futures fell ₹6,799 per kg, or 3.4%, to ₹1,92,800 per kg on Friday. Prices have plunged ₹32,955, or more than 14%, over the past 10 sessions. A recent appreciation in the rupee has provided only limited relief against the decline in international prices. Gold has also witnessed a sharp slide. In the international market, spot prices have fallen more than 3.5% to around $4,015 an ounce, their lowest since July 20, with Thursday alone seeing a 2.8% drop. On the MCX, gold futures slipped below ₹1.42 lakh per 10 grams on Friday, down more than 20% from this year's peak of ₹1.81 lakh per 10 gm in January. Also read | Titan Company brand Zoya seeks to cash in on rising high-end jewellery demand, eyes ₹500 crore revenue by FY27 In Mumbai's spot market, silver was trading at ₹1.95 lakh per kg, down from ₹2 lakh per kg on Thursday. Gold, on the other hand, was trading at ₹1.41 lakh per gm, down from ₹1.43 lakh per 10 gm on Thursday. "Oil is driving this selloff more than fear is," said Aditya Agarwala,chief investment officer, InvestValue. Brent crude above $110 a barrel, amid fresh supply risks in the Gulf, has revived inflation concerns. Also, markets are now anticipating another US Federal Reserve rate hike before the year-end. Also read | A Japanese giant is quietly taking a bigger shelf in India’s wardrobes Higher interest rates weigh on gold and silver as they do not generate interest income, making yield-bearing assets more attractive. Silver is also facing concerns over industrial demand, with weakness in solar-panel manufacturing in China and demand from chip-making industry amid the technology-sector sell-off adding to the pressure. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-10-24 15:23