New Delhi: On Friday, gold and silver prices experienced a significant decline, impacting gold and silver Exchange Traded Funds (ETFs) as well.
During the day, Nippon India ETF Gold Bees and ICICI Prudential Gold ETFs each fell by nearly 10 percent, while Axis Gold ETF saw a drop of about 12 percent. Other gold ETFs, including Tata Gold ETF, HDFC Gold ETF, and UTI Gold ETF, also faced notable declines.
Silver ETFs followed a similar trend. Axis Silver ETF slipped by as much as 24 percent, ICICI Prudential Silver ETF and Kotak Silver ETF dropped around 23 percent each. SBI Silver ETF declined by 22 percent. Mirai Asset Silver ETF, HDFC Silver ETF, and Nippon India Silver ETF also recorded substantial losses.
The prices of gold and silver fell sharply during the day. According to the India Bullion Jewellers Association, as of 5 PM, the price of 24-carat gold decreased by ₹9,545 to ₹1,65,795 per 10 grams over the past 24 hours.
Silver prices also dropped by ₹40,638 to ₹3,39,350 per kilogram from the earlier ₹3,79,988 per kilogram.
In international markets, gold and silver prices fell by more than 10 percent. At the time of reporting, gold on COMEX was down 3.84 percent, trading at $5,150 per ounce, while silver was down 10.56 percent, trading at $102.34 per ounce.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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