Gold Prices Drop 10% in a Week
Prices for gold and silver have plummeted in the international market. Over the past week, gold prices fell by 10%—marking the sharpest decline seen since 2011. Investors engaged in heavy selling amidst rising tensions in West Asia and a strengthening US dollar. Consequently, the price of an ounce of gold dropped to $4,492 on Friday. Silver prices also witnessed a significant decline, falling by 15% over the course of the week. Domestically, on the MCX, the price of 10 grams of gold fell to ₹1,44,825, while a kilogram of silver closed at ₹2,27,470.
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