Gold-Silver Prices: Record Drop Continues Amidst Wedding Season, Prices Fall Daily

Gold-Silver Rate Today: The record-breaking decline in gold and silver prices continues. It is currently the wedding season, and gold and silver prices are falling every day.

Last month, gold and silver prices (Gold-Silver Price) saw a bumper surge. However, in the past week, gold and silver prices have been witnessing a record decline. Prices of gold and silver are falling daily in the domestic and international bullion markets. Not only this, gold and silver are also falling daily on the Multi-Commodity Exchange, and this trend continues.

Today's Gold Price

Gold prices have seen a decline in the last 24 hours. Today, Friday, February 6, the price of gold has fallen to ₹1,50,386 per 10 grams on the Multi Commodity Exchange chart.

Today's Silver Price

Silver prices have seen a significant decline in the last 24 hours. Today, Friday, February 6, the price of silver has fallen to ₹2,33,613 per kilogram on the Multi Commodity Exchange chart.

Prices Falling Daily During Wedding Season

It is currently the wedding season in India. Although families celebrating weddings have already purchased gold and silver, the prices of gold and silver are now decreasing every day during this wedding season.

Reasons for the Decline in Gold and Silver Prices?

Gold and silver prices have been declining daily in India for the past few days. In such a situation, it is natural to wonder about the reasons behind this. The main reasons are the strengthening of the US dollar globally and the cautious stance of the US Federal Reserve on interest rate cuts, which has reduced the demand for safe investments. A decrease in geopolitical tensions, significant profit booking after record highs, additional margin requirements on the Multi-Commodity Exchange, and forced selling of leveraged positions are also contributing to the fall in gold and silver. However, this decline is considered temporary.