Gold, Silver Prices Today Live Updates: Silver, gold futures tumble 10%; investors cautious amid strong dollar, Fed jitters

Gold and silver prices retreated sharply on Thursday, ending a two-day recovery in futures trade, as weakness in global markets and a firm US dollar weighed on precious metals. On the Multi Commodity Exchange (MCX), silver prices saw the steepest fall. The March delivery contract plunged by Rs 26,850, or 10 per cent, to Rs 2,42,000 per kilogram. The metal had closed at Rs 2,68,850 per kg in the previous session. Gold prices also moved lower. The April futures contract declined by Rs 2,310, or 1.51 per cent, to Rs 1,50,736 per 10 grams, compared with Wednesday’s closing price of Rs 1,53,046 per 10 grams.

Commenting on the trend, Renisha Chainani, Head – Research at Augmont, said, “Gold and silver erased recent gains, snapping a two-day rebound as renewed selling pressure and heightened volatility returned to precious-metal markets.”