silver price drop
Silver Price Today: Silver prices had been rising for the past two days, but today, as soon as the commodity market opened, silver prices fell sharply. Silver prices in the futures market fell by 6% in a single stroke. After two days of gains, silver became cheaper today.
Silver prices fell on Thursday, February 5, due to profit-booking, erasing gains from the previous two trading sessions. Silver prices had been rising for the previous two sessions due to rising geopolitical tensions between the US and Iran. Gold prices also declined in today’s trading.
Silver prices fell 6% to ₹2,52,719 per kilogram on the MCX, while gold fell nearly 2% to ₹1,48,455 per 10 grams. Meanwhile, silver prices fell 10% to $73,415 on the COMEX, while gold prices fell 1.5% to $4,805 on the COMEX.
Silver in the international market
However, in international markets, spot silver rose 2.1% to $89.88 per ounce, having reached an all-time high of $121.64 last week. Spot gold rose 1.1% to $5,016.89 per ounce, having reached a record high of $5,594.82 last Thursday. US gold futures for April delivery also rose 1.8% to $5,036.80 per ounce. In other metals, spot platinum rose 2.1% to $2,272.55 per ounce, having reached its highest level of $2,918.80 on January 26, while palladium rose 0.7% to $1,787.55 per ounce.
What is the price of gold?
Just as silver prices are falling in the country, gold prices have also fallen today. At the time of writing, the price of gold contracts expiring on April 2, 2026, on MCX has fallen. Gold has declined by approximately 0.76 percent, or approximately ₹1,156 per 10 grams.
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