Gold And Silver Prices Slide Sharply After Record Highs, Check Today’s 24 Carat Gold Rate

After hitting record highs, gold and silver prices have started correcting. Market experts believe this fall is driven by profit booking. Investors who bought earlier at lower levels are now locking in gains. Such corrections are common after sharp rallies. The recent surge pushed prices to historic levels. A temporary pause was expected. This decline reflects normal market behavior.

What Are The Latest MCX Rates?

On the Multi Commodity Exchange, gold fell by Rs 511. It is now trading at Rs 1,33,669 per 10 grams. Silver also saw a sharp decline. The metal dropped by Rs 1,277. Silver is currently trading at Rs 1,96,800 per kilogram. These rates mark a clear pullback from recent peaks.

How High Did Gold And Silver Reach Earlier?

Gold recently touched a record high of Rs 1,35,496 per 10 grams. This level was achieved in the February futures contract. Silver also created history by crossing Rs 2,00,000 per kilogram. Its record high stood at Rs 2,01,615 per kilogram. These levels attracted widespread attention. Investors rushed to book profits soon after.

How Much Have Prices Dropped From Record Levels?

Gold has become cheaper by nearly Rs 2,000 per 10 grams from its peak. Silver has corrected even more sharply. The white metal is now around Rs 5,000 per kilogram below its record high. This drop has brought some relief to buyers. However prices are still historically high. Volatility remains strong.

Is Global Demand Still Supporting Prices?

Despite the fall, global demand remains firm. Gold continues to attract investors as a safe haven asset. Silver demand is supported by industrial usage. Renewable energy and electronics sectors boost silver consumption. Experts say fundamentals remain strong. The current dip is not demand driven. It is mainly due to short term profit taking.

What Are Experts Saying About This Correction?

Market analysts say the correction is healthy. Prices had risen too fast in a short period. Profit booking was inevitable at record levels. Experts advise caution for short term traders. Long term investors may use dips to accumulate. Volatility may continue in coming sessions. Global cues will play a key role.

What Should Investors Do Now?

Experts suggest avoiding panic selling. Long term outlook for gold and silver remains positive. Investors should track global inflation and interest rate signals. Buying on dips may be considered with proper planning. Risk management is crucial in volatile markets. Precious metals still hold value as hedges. The trend remains under watch